Credit Hire Fraud
Credit hire fraud can occur on its own, but is also a feature of almost every type of motor fraud.
Our case handlers are trained to consider the nature of a credit hire claim in parallel with any other suspicions there may be. In doing so, we avoid the potential pitfall of neglecting the hire claim in favour of solely advancing enquiries in respect of the personal injury elements of an accident.
Horwich Farrelly counter-fraud teams liaise closely with colleagues in our leading Credit Hire department to monitor the behaviours and tactics being used by credit hire operators (CHOs) and identify suspect activities and methods. Typical examples of credit hire fraud include:
- Fabricated agreements/documents (e.g. Notice of Right to Cancel);
- Inflated rates/periods of hire;
- Cross hire.
All Non-GTA third parties are validated to ensure that the hire period and documentation are valid. Full DVLA/Experian/MID checks are carried out on all vehicles and third parties. Hire vehicle registrations are cross checked for instances of “cross hire”.
An extensive credit hire fraud database is constantly updated with the assistance of our business partners and we also maintain a cross hire database. In addition to specific matches in individual cases, we use this data to identify organisations which should be treated as indicators of potential fraud.