Lawsuit accusing Ohio JLR dealership of PPP loan fraud dismissed
Jeffrey Mattox had alleged he was fired after raising concerns that money provided to the store through the federal program was being deducted from his commissions......»»
Celebrity group"s 4 dealerships sue CDK over cyberattack
Celebrity Motor Car Co.'s four dealerships have all sued CDK Global, accusing it of soliciting business by relating the risks of a dealership breach and the cybersecurity CDK could provide — only to be hacked itself and unavailable to retailers aft.....»»
City of Columbus sues man after he discloses severity of ransomware attack
Mayor said data was unusable to criminals; researcher proved otherwise. Enlarge (credit: Getty Images) A judge in Ohio has issued a temporary restraining order against a security researcher who presented evidence that a.....»»
AI can mitigate bias against women in loan decisions and boost lenders" profits and reputations
Recent research from the University of Bath shows discrimination against women worsens if Artificial Intelligence (AI) is used by lenders for loans, but that ethical lenders could choose to tweak the AI algorithms to address this bias and still impro.....»»
GM"s BrightDrop electric vans to become Chevrolet models
GM's BrightDrop electric vans will become Chevrolet models, the idea being to leverage Chevy's larger dealership network......»»
Romance fraud doesn"t only happen online—it can turn into real-world deception
We often think of fraudsters as people on the opposite side of the world. They will manipulate and exploit victims through words on a computer screen, or loving messages through the phone. But romance fraud can also happen in person, with the fraudst.....»»
Dealership catches onto scammer, but plays along until cops arrest him
A video showing a customer taking delivery of two Kia Tellurides, then being arrested for allegedly using a fake driver's license, went viral on TikTok......»»
Behind the scenes: A dealership transaction in New Jersey
Automotive News gets glimpses of a dealership closing in Little Silver, N.J......»»
Court: Section 230 doesn’t shield TikTok from Blackout Challenge death suit
TikTok must face claim over For You Page recommending content that killed kids. Enlarge (credit: Catherine McQueen | Moment) An appeals court has revived a lawsuit against TikTok by reversing a lower court's ruling that.....»»
F&I revenue still possible as leasing returns
As leasing grows across the country, car dealership finance managers might have a harder time hitting the kind of F&I gross profit per vehicle seen during the inventory shortage. But there's still an opportunity for the finance and insurance office,.....»»
McGovern Automotive"s deal to buy Mercedes store isn"t just business — it"s personal
Sellers Allan Sockol and Scott Coleman's values align with rapidly growing McGovern, and they will remain involved in the dealership as partners......»»
Old methods, new technologies drive fraud losses
GenAI, deepfakes and cybercrime are critical threats putting intensifying pressures on businesses, according to Experian. Top online security concerns for consumers According to the FTC, consumers reported losing more than $10 billion to fraud in 202.....»»
“Should art be regulated by the SEC?” NFT artists file lawsuit
SEC had ruled that some NFT digital art pieces are unregistered securities. Enlarge (credit: Aleksandra Konoplia via Getty) Since around 2013, Jonathan Mann’s sole job has been writing and posting a song online each da.....»»
Lithia"s captive finance company Driveway Finance turned a Q2 profit
Lithia Motors Q2 2024 earnings: After just a few years of operation, Lithia's relaunched captive finance car loan company Driveway Finance Corp. turned a profit during the second quarter and was on track to stay that way......»»
Artificial intelligence is powering the latest fraud trends
The automotive retail industry was built on face-to-face interactions, but even experts often cannot spot an AI generated document with the naked eye......»»
GM captive finance company withdraws application to create a bank
The captive finance arm of General Motors applied to charter a type of bank called an Industrial Loan Company in late 2020......»»
Study IDs best "red flags" auditors can use to spot financial fraud
A new analysis of the benchmarks that auditors use to identify financial statement fraud risk finds that the most commonly used benchmarks are less effective at identifying fraud than benchmarks that are less commonly used......»»
Judge upholds $350,000 award against Michigan dealership for wrongful repossession
A federal judge upheld a $350,000 punitive damages award against a Michigan dealership in a spot delivery and wrongful repossession case......»»
After cybersecurity lab wouldn’t use AV software, US accuses Georgia Tech of fraud
Researchers allegedly found security protocols "burdensome." Enlarge (credit: Georgia Tech) Dr. Emmanouil "Manos" Antonakakis runs a Georgia Tech cybersecurity lab and has attracted millions of dollars in the last few ye.....»»
Fraud tactics and the growing prevalence of AI scams
In the first six months of 2024, Hiya flagged nearly 20 billion calls as suspected spam – more than 107 million spam calls everyday. The data showed spam flag rates of more than 20% of unknown calls (calls coming from outside of someone’s address.....»»
Dealerships kept contracts digital in Q2 despite CDK Global outage, Wolters Kluwer says
Car dealerships sent auto lenders more digital car loan contracts in the second quarter opting against paper documentation, despite the CDK Global outage in June following two cyberattacks......»»