BuyerID Alert
Text-Based ID Verification Tool
As a dealer, the risks you face from identity theft can be significant. According to the FBI, it’s one of the nation’s fastest growing crimes – and auto dealers have become prime targets. In fact, fraud cases involving auto loans and leases are reported every three minutes. That equates to nearly $1 Billion dollars in fraud-related losses in the automotive industry every year.*
Product Highlights
- An easy, first-step ID verification tool that satisfies certain requirements under the Red Flag Rules
- Helps protect dealerships against fraud and identity theft
- Easy-to-read, text-based explanations for any ID inconsistencies
- Delivered automatically with every credit report
- Convenient, immediate results displayed in logical, simplified layout
- CREDCOservices.com conveniently available as a backup to dealer sales and finance platforms
First-Step for Identity Verification
Now you can fight this growing risk with BuyerID Alert, a text-based identity verification tool designed to help you prevent identity theft before it happens.
BuyerID Alert provides a first step in our complete ID verification process. Automatically delivered along with the buyer’s credit report, BuyerID Alert enables you to quickly confirm a customer’s identity by verifying their Social Security Number, address, and telephone number.
Fast Delivery. Easy To Read.
Generated in seconds, BuyerID Alert delivers either an “all clear” or standardized, text-based messages that provide a basic indication of any ID inconsistencies. Discrepancies are displayed in a logical, simplified layout for easy interpretation.
Red Flag Rules
First Advantage CREDCO provides a comprehensive Red Flag Solution that includes identity verification, OFAC Screening and credit reporting services to help you minimize fraud-related losses, and maintain compliance with the Red Flag Rules.
"Dealerships need to take ownership of all areas concerning the Red Flag Ruling – without exception – even if it results in a lost sale. It’s crucial to include steps to protect consumer identities as part of the overall sales process."
Jim Smith
Financial Services Manager
Saturn of Oak Lawn, IL
*Derived from the Federal Trade Commission, 2006 ID Theft Complaint Data Report.