Results 1 to 5 of 5
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11-12-2015, 12:54 PM #1Senior Member
Reputation points: 32550
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- Sep 2014
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- NYC
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- 1,436
Fraud Rate
What percentages of your deals are fraud?
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11-12-2015, 01:46 PM #2Member
Reputation points: 194
- Join Date
- Jun 2015
- Location
- New York
- Posts
- 68
At every funding company I've worked for there are lots of fraudulent submissions - the industry is saturated with them. Some of the bank statements people send in are just ridiculous.
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11-12-2015, 02:19 PM #3Senior Member
Reputation points: 10944
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
I've noticed patterns and waves of fraud. For a while a couple years ago I wouldn't touch anything from Chicago or its suburbs because there was a group of people convincing business owners to commit fraud, they (the group) doctored the statements and then coached the merchatns into doing the perfect MI.
Originally Posted by Funder Mark
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11-12-2015, 03:01 PM #4Member
Reputation points: 36
- Join Date
- Jun 2015
- Posts
- 22
We see 1-2 sets of bad statements a week. Sometimes more.
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11-12-2015, 05:54 PM #5Senior Member
Reputation points: 2218
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
Just over 3%
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