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Car finance fraud on the downturn

Car finance fraud was 14 per cent lower last year than they were in 2009, according to a new report taken out by the Finance and Leasing Association (FLA).

Car finance fraud was 14 per cent lower last year than they were in 2009, according to a new report taken out by the Finance and Leasing Association (FLA).

The FLA said that even though more cars were sold via car finance, the figures still showed a healthy decline.

The amount of finance fraud incidents over the course of the year stands at 832 and is worth £14.6 million.

Paul Harrison, Head of Motor Finance at the FLA, said: "Even if a fraudster manages to acquire a car on credit, our industry has a good vehicle recovery rate. Car fraud funds organised crime and FLA members will continue to support the police by funding the Vehicle Fraud Unit."

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