- 1The survey targets lenders, funders, brokers, banks and fintechs.
- 2It will cover the most common fraud types and the tools used to mitigate risk.
- 3Responses are anonymous; participants receive an early copy of the full report.
MoneyThumb and a small business finance trade publication have launched an industry survey on fraud in alternative lending.
The problem
Fraud is a growing challenge for lenders and funders that serve small businesses. Tactics have evolved to include synthetic identities, doctored bank statements, first-party fraud and account takeovers. Those risks, the organizers say, can lead to higher defaults, operational losses and stricter underwriting.
What the survey covers
The two partners are surveying lenders, funders, brokers, banks and the fintech sector to understand how fraud is affecting the industry. Their stated goals are to underscore the problem, shine a spotlight on a sector that damages the industry, and gather information on the most common fraud types and the tools and strategies lenders use to reduce risk.
Participation
Responses are completely anonymous. As thanks, participants receive an exclusive early copy of the full report, including additional insights not available to the public. The survey is open online. The publication has taken part in other joint reports in the past.
Source reporting: deBanked.
