According to Experian’s State of the Automotive Finance Market Report: Q2 2022, the average new vehicle interest loan rate for consumers with a credit score between 501 and 600, also referred to as subprime, was 9.75%—compared to prime consumers with a credit score between 661 and 780, who had an average new vehicle interest loan rate of 4.03% this quarter.

Fraud mitigation is an ongoing process to identify and isolate any suspected fraud fast and manage any fallout without increasing risk.

Financial elder abuse fraud occurs when someone illegally uses a senior’s money or other property. Previngting it requires a robust fraud solution.