ID theft and false credit applications drive 54% surge in auto fraud: Equifax Canada [Yahoo! Finance Canada]
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: Yahoo! Finance Canada
"That kind of increase really indicates there's a specific targeted attack to that sector," said Carl Davies, head of fraud and identity at Equifax Canada, in an interview. The biggest jump in auto fraud rates was in Ontario, where they doubled since last year, said the report released Tuesday. Rising vehicle prices in recent years have made the industry a target for fraud, Davies said, while in his opinion, recourse against criminals remains limited. "When you combine those two, I think that's driven a lot of the fraud activity into the auto sector this time around," he said. But not all fraudsters are organized criminal groups, Davies said. The most common type of fraud was first-party fraud, where people knowingly provide false information about their finances, such as lying about how much money they make. About 60 per cent of fraud within the auto sector was related to consumers misrepresenting their financial situation, Davies said. While that's roughly comparable wi
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EFX
News
- Business owners increasingly worried about Canada's fraud epidemic [Wealth Professional (Canada)]Wealth Professional
- ID theft and false credit applications drive 54% surge in auto fraud, Equifax Canada report finds [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- ID theft and false credit applications drive 54% surge in auto fraud: Equifax Canada [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Equifax Canada Reports Rise in Automotive Fraud [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Equifax Canada Reports Rise in Automotive Fraud [Yahoo! Finance]Yahoo! Finance
EFX
Earnings
- 7/17/24 - Beat
EFX
Sec Filings
- 8/29/24 - Form 4
- 8/28/24 - Form 144
- 8/15/24 - Form 8-K
- EFX's page on the SEC website