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Fraudster crackdown

Closer scrutiny of loan applications, combined with stricter dealer checks for clocked cars, helped save the industry £36.5m in the first quarter, says the Finance and Leasing Association.

Detected cases (207) dropped 35%, and 3,500 attempted suspected motor finance frauds were spotted by FLA members.

FLA head of motor finance Paul Harrison said: “Lenders are being particularly vigilant in a recession.”

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