Central Nebraska Today
GRAND ISLAND — The Grand Island Police Department is investigating after a resident reported that identity thieves took out car loans in their name on Thursday, March 13.
According to the GIPD, officers responded to S. Cherry St. for the report of identity theft.
A 37-year-old woman reported that an unknown party had utilized their identity to secure two sperate car loans that totaled over $12,000.
The case is under investigation.
“The TransUnion report explains that while most industries saw a decline in synthetic identity fraud or remained relatively stable, the auto industry was a clear exception. In just the first half of 2023, there was a 38 percent increase year-over-year. This is the second consecutive year of an upward trend, noted the release,” according to Bankrate.com
“It has real consequences for the industry — resulting in $1.8 billion worth of fraudulent auto loans that will never be repaid. This is compared to $994 million in bank credit card access and $57 million in unsecured personal loans,” Bankrate.com noted.
