Home
NewsCar buyers at risk of finance fraud?
Car buyers at risk of finance fraud?
Posted by Emily Jones
Many car buyers may be at risk of inadvertently committing finance fraud, it has been claimed.
According to the Finance and Leasing Association (FLA), providing false information in a finance application or selling a car which has outstanding finance is a serious crime and not everyone is aware of this.
The organisation - which is a trade association for the consumer credit, motor finance and asset finance sectors and describes itself as the largest of its type in Europe - said there were nearly 10,000 attempted fraudulent applications in the 12 months to March.
Head of motor finance at the FLA Paul Harrison pointed out that there were nearly 2,500 such attempts in the first three months of 2010 alone.
He added: "Finance companies continue to work closely with police to combat finance crime, but it is vital that consumers are made aware of how fraud could affect them."
Mr Harrison went on to note that people have legal responsibilities that they must respect. 
25/05/2010 16:49
News category: Motoring