The FLA Responds To The National Fraud Strategy Announcement

19 March 2009

Welcoming today's announcement by the Attorney General about the establishment of a National Fraud Strategy, Stephen Sklaroff, Director General of the Finance & Leasing Association said:

"A National Fraud Strategy is to be applauded. Fraud often increases in a recession and motor finance companies have, therefore, already created a partnership with the Association of Chief Police Officers to investigate and recover vehicles obtained via fraud. £123 million of fraud was prevented last year and FLA member motor fraud cases dropped 36 per cent in the last few months of 2008. By tackling fraud in this way dealers and lenders can prevent higher costs being passed on to customers and dealers can continue to provide competitive deals on the forecourts. It is vital that the Government now uses the National Fraud Strategy to deliver further concrete action to address financial crime, particularly at a time when businesses and consumers are already struggling with current economic conditions."

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