The rental car industry is particularly exposed to fraud losses. High-value vehicle inventory can be driven off the rental lot after presentment of simple ID and credit card documents. This circumstance has led to a steadily increasing level of losses, globally, within this industry.
The use-case study you are about to read is a real live-world case in which a leading brand auto rental agency tested the concept of “Image Capture and Authentication” as a means of DETECTING and DETERRING potential losses in one of their busiest locations.
The results? After 90 days, no vehicle losses occurred. An investment equal to less than 1/30 of the previous year’s losses prevented any losses from occurring during the 90 day pilot project.
In recent years, a sharp spike in the number of rental vehicles stolen under the guise of false identification documents has been experienced by all major rental agencies
“Identity Authentication & Image Capture” (“ICA”) solutions which provide clients with protection from false identification documents and fraudulent credit cards
The car rental agency's Security and Loss Prevention team reported that the pilot project likely prevented 7-8 vehicle thefts from occurring