Gary Billingham from fraud prevention organisation, Cifas, has joined the BVRLA blogging community to raise awareness of how fraudsters are targeting the vehicle rental and leasing sectors.
In his BVRLA blog Gary provides tips to help members protect their vehicle assets.
He says, “Controls should be diversified; firms should think about alternative questions as organised fraudsters will research processes in advance. For example, rather than ask for a date of birth, ask how old they will be on their next birthday and listen to how they answer rather than just the answers given. Ask questions that will be harder for fraudsters to find out, what is the middle initial of their spouse or partner or ask for a road or street adjacent to their address. Or what is the nearest train or tube station, school, or park. The key control is how they deliver the answers.
“Fraudsters are using open-source intelligence to commit fraud so why shouldn’t we use the same to prevent it. Firms should also analyse successful fraud preventions as well as losses. This valuable intelligence at your own fingertips can be helpful to see how fraudsters are testing your controls. For example, the credit card providers prevented 89% of fraudulent conduct, largely through device and IP address profiling with only 11% being successful. Think about how you would bypass your own controls including the tools you would need from other sources – do you place an over reliance on any potential enablers?”
Read more about hosting a BVRLA Blog on the BVRLA website.