Ghost Car Fraud: A £10m Finance Scam – A Car Dealer Podcast

In this podcast we explain how scammers have used ghost cars, rogue dealers and fake finance applications to take the industry for more than £10m. In this special Car Dealer Podcast episode, James Baggott speaks to finance brokers hit by the scam, including DSG’s Rob Woollen and Octane Finance’s Daniel Horner, who reveal exactly how the con works and find out why it’s been so hard to stop. This is not a victimless crime. Dealers have lost their businesses, brokers have taken huge financial hits, and even genuine customers have been caught up in the chaos. In this episode, you'll hear: – How ‘ghost car’ fraud actually works – Why real customers are being used in the scam – The role of rogue (and sometimes unwitting) dealers – How criminals are exploiting the finance system – The scale of the losses — and why it could keep growing – What dealers MUST do to protect themselves The Metropolitan Police has confirmed this is an active investigation — and this could be one of the biggest frauds the motor finance industry has ever seen. Join us as we explain how it works. The Car Dealer Podcast is designed for audio listeners and is available on Spotify and Apple Podcasts. We publish the video output from that audio recording here as a little bonus. Hence the microphones! Spotify: https://open.spotify.com/show/4v3de1s... Apple Podcasts: https://podcasts.apple.com/gb/podcast... If you like our podcasts please consider subscribing to the ‪@CarDealerMagazine2‬ channel and check out our other videos on our main channel‪ ⁨‪@CarDealerMagazine‬ too.