8 facts about payment fraud in IT equipment leasing
Finance fraud in leasing is increasing rapidly.
When it comes to IT equipment, investment in computers is growing rapidly and expected to accelerate even more in the future. 80% of businesses use financing to acquire equipment. Leasing is a flexible and common way to finance assets such as IT equipment. That means the risk of possible fraud is increasing as well.
Leasing is in most cases provided by a third-party financier, but it is also possible that a supplier provides a leasing option. The fraud usually consists of either a fictious leasing contract and no actual purchase of the asset, or payment default and stolen assets The fraudster effectively sells an asset to themselves and finances the sale through the leasing fraud. Thus, the transaction is false, but the fraudster does receive the money and sometimes the equipment too. Such frauds happen because of limited verification of the applicant company.
View the infographic and learn:
- How fraud in IT equipment leasing is increasing
- Which company roles are most likely to commitfinance fraud
- Why it’s important to do proper background checks