Recently, the New York Times reported that a crime ring in Russia has “amassed the largest known collection of internet credentials, including 1.2 billion user name and password combinations and more than 500 million email addresses.” The newspaper quoted data security expert Alex Holden, founder of Hold Security, as warning that hackers “targeted any website they could get, … [Read more...] about Data Breaches: Why Dealers Should Be Concerned
Sadly, fraud occurs in dealerships in both up and down cycles and happens with more frequency than most dealers would like to believe. Without a systematic fraud program in place, fraud is nearly impossible to prevent, can be difficult to detect, and the financial impact of an undetected fraud can be catastrophic. The purpose of any fraud program is to provide a deterrent and … [Read more...] about Dealership Fraud—Not in My Dealership!
According to the FBI’s latest figures, vehicle theft has dropped for the sixth consecutive year. Based on that information, it would appear that theft isn’t an issue that dealers need to be particularly concerned about. However, those figures are deceptively positive, because the rate of stolen vehicles that are never recovered has reached a 20-year high (43 percent). That … [Read more...] about Protecting Your Lot from Vehicle Theft
In May of 2009 there was an article in the Katy Times about the Harris County Sheriff’s Office looking for two individuals who had defrauded several Houston area car dealerships of nearly $750,000. The two gentlemen in question were obtaining employment at various automobile dealerships in order to obtain customer information. With the information, they financed numerous … [Read more...] about Why Run A Background Check?
We have all seen the commercials about identity theft: The ones with the guy that uses someone else’s credit card to go on lavish vacations or buy expensive jewelry. While the commercials may be funny, the situation is serious. The fact is identity theft is the fastest growing and most expensive crime today. For the record, identity theft is not just credit cards or … [Read more...] about Avoid Identity Theft in Your Service Drive