Fraud is sprouting throughout automotive, so Modives is doing what it can in the individual identity and car insurance spaces.
On Monday, Modives announced results six months after leveraging IDScan.netʼs Digital Identity Verification Engine (DIVE) for identity verification in CheckMyDriver, which is Modives’ application for auto transactions.
Modivesʼ results showed that 22.5% of auto transactions it verified through CheckMy Driver involved either a fake ID or insurance that was inactive, inaccurate, or inadequate, exposing substantial risks for auto dealers, rental companies, service departments, and financial institutions.
Read more on Auto Fin Journal.
