FICO Survey: Alarming Acceptance of ';Liar Loans' Among Thai Consumers
FICO's latest global consumer fraud survey reveals alarming attitudes towards first-party financial fraud in Thailand. The study found that 39% of Thais think it's normal or acceptable to exaggerate income on loan applications for bank accounts, mortgages, and automotive financing. Additionally, 25% believe it's acceptable to lie on mortgage applications under certain circumstances.
The survey also highlighted that falsifying insurance claims is viewed as the most taboo form of fraud, with 68% of Thai consumers believing it's never acceptable. These findings align closely with global attitudes, where 56% of consumers reject the idea of exaggerating income on loan applications.
FICO experts warn that misrepresentation of information can lead to serious consequences and urge banks to improve their ability to detect inaccuracies. The survey, conducted in November 2023, included 1,002 Thai adults among 12,000 global respondents.
Il più recente sondaggio globale di FICO sui consumatori riguardanti le frodi rivela atteggiamenti allarmanti nei confronti delle frodi finanziarie di prima parte in Thailandia. Lo studio ha trovato che il 39% dei thailandesi pensa sia normale o accettabile esagerare il reddito nelle domande di prestito per conti bancari, mutui e finanziamenti automobilistici. Inoltre, il 25% ritiene che sia accettabile mentire nelle domande di mutuo in determinate circostanze.
Il sondaggio ha anche evidenziato che falsificare le richieste di indennizzo è visto come la forma di frode più tabù, con il 68% dei consumatori thailandesi che crede non sia mai accettabile. Questi risultati sono in linea con le attitudini globali, dove il 56% dei consumatori rifiuta l'idea di esagerare il reddito nelle domande di prestito.
Gli esperti di FICO avvertono che la falsa rappresentazione delle informazioni può portare a gravi conseguenze e esortano le banche a migliorare la loro capacità di rilevare imprecisioni. Il sondaggio, condotto a novembre 2023, ha coinvolto 1.002 adulti thailandesi su un totale di 12.000 rispondenti a livello globale.
La última encuesta global de FICO sobre fraude al consumidor revela actitudes alarmantes hacia el fraude financiero de primera parte en Tailandia. El estudio encontró que el 39% de los tailandeses piensa que es normal o aceptable exagerar los ingresos en las solicitudes de préstamos para cuentas bancarias, hipotecas y financiamiento automotriz. Además, el 25% cree que es aceptable mentir en las solicitudes de hipoteca bajo ciertas circunstancias.
La encuesta también destacó que falsificar reclamaciones de seguros es visto como la forma de fraude más tabú, con el 68% de los consumidores tailandeses creyendo que nunca es aceptable. Estos hallazgos están muy alineados con las actitudes globales, donde el 56% de los consumidores rechaza la idea de exagerar ingresos en las solicitudes de préstamos.
Los expertos de FICO advierten que la tergiversación de información puede llevar a graves consecuencias y instan a los bancos a mejorar su capacidad para detectar inexactitudes. La encuesta, realizada en noviembre de 2023, incluyó a 1,002 adultos tailandeses de un total de 12,000 respondentes globales.
FICO의 최신 글로벌 소비자 사기 조사 결과는 태국의 일차 재정 사기에 대한 우려되는 태도를 드러냅니다. 이 연구에 따르면 39%의 태국인이 대출 신청서에서 소득을 과장하는 것이 정상적이거나 허용된다고 생각합니다는 은행 계좌, 주택담보대출 및 자동차 금융을 위한 것입니다. 또한, 25%는 특정 상황에서 주택담보대출 신청서에서 거짓말하는 것이 허용된다고 믿고 있습니다.
조사는 또한 보험 청구를 위조하는 것이 가장 터부시되는 사기 형태로 간주된다는 점을 강조했습니다, 68%의 태국 소비자가 결코 허용될 수 없다고 믿고 있습니다. 이러한 발견은 전 세계의 태도와 밀접하게 일치하며, 56%의 소비자가 대출 신청서에서 소득을 과장하는 것을 거부합니다.
FICO의 전문가는 정보의 왜곡이 심각한 결과를 초래할 수 있다고 경고하며, 은행이 부정확성을 탐지하는 능력을 개선할 것을 촉구합니다. 이번 조사는 2023년 11월에 실시되었으며, 12,000명의 전 세계 응답자 중 1,002명의 태국 성인이 포함되었습니다.
La dernière enquête mondiale de FICO sur la fraude des consommateurs révèle des attitudes alarmantes envers la fraude financière de première partie en Thaïlande. L'étude a trouvé que 39 % des Thaïlandais pensent qu'il est normal ou acceptable d'exagérer ses revenus sur les demandes de prêt pour des comptes bancaires, des hypothèques et des financements automobiles. De plus, 25 % estiment qu'il est acceptable de mentir dans les demandes de prêt hypothécaire dans certaines circonstances.
L'enquête a également souligné que la falsification des demandes d'indemnisation est perçue comme la forme de fraude la plus taboue, 68 % des consommateurs thaïlandais pensant que cela n'est jamais acceptable. Ces résultats sont étroitement alignés avec les attitudes mondiales, où 56 % des consommateurs rejettent l'idée d'exagérer les revenus sur les demandes de prêt.
Les experts de FICO mettent en garde que la fausse représentation des informations peut avoir de graves conséquences et exhortent les banques à améliorer leur capacité à détecter les inexactitudes. L'enquête, réalisée en novembre 2023, a inclus 1 002 adultes thaïlandais parmi 12 000 répondants mondiaux.
Die neuesten globalen Verbraucherbetrugsumfragen von FICO zeigen alarmierende Einstellungen gegenüber Erstsatzbetrug in Thailand. Die Studie ergab, dass 39% der Thailänder es für normal oder akzeptabel halten, das Einkommen in Kreditanträgen zu übertreiben für Bankkonten, Hypotheken und Auto-Finanzierungen. Darüber hinaus glaubt 25%, dass es in bestimmten Fällen akzeptabel ist, in Hypothekenanträgen zu lügen.
Die Umfrage hob auch hervor, dass das Fälschen von Versicherungsansprüchen als die am stärksten tabuierte Form von Betrug angesehen wird, wobei 68% der thailändischen Verbraucher glauben, dass dies nie akzeptabel ist. Diese Ergebnisse stehen in engem Einklang mit den globalen Einstellungen, bei denen 56% der Verbraucher die Idee, das Einkommen in Kreditanträgen zu übertreiben, ablehnen.
Die FICO-Experten warnen, dass die falsche Darstellung von Informationen schwerwiegende Folgen haben kann und fordern die Banken auf, ihre Fähigkeit zur Erkennung von Ungenauigkeiten zu verbessern. Die Umfrage, die im November 2023 durchgeführt wurde, umfasste 1.002 thailändische Erwachsene unter 12.000 globalen Befragten.
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Close to 1 in 4 Thais think it’s OK to deliberately mislead on personal loans, mortgages, auto and other applications.
Highlights
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Two in five Thais (
39% ) think it’s OK or normal for people to exaggerate their income on loan applications -
One in seven Thais (
14% ) believe it’s normal for people to deliberately misrepresent their income on mortgage applications -
Falsifying insurance claims is viewed as the most taboo form of fraud, with two in three Thais (
68% ) believing it is not acceptable
Global analytics software leader FICO today shared its latest global consumer fraud research, which revealed alarming attitudes toward first-party financial fraud both globally and in the Thai market.
The survey finds that while most Thai respondents view the misrepresentation of information while applying for financial products and making insurance claims unacceptable, a sizeable portion of the population feels otherwise.
Two in five Thais think it is normal or acceptable in some cases to misrepresent their income on an application for a bank account (
These sentiments closely align with global attitudes. The survey reveals that the majority of consumers (
“Consumers must understand that misrepresentation of information when applying for financial products can lead to serious consequences, even if done unintentionally,” said Aashish Sharma, APAC segment leader for risk lifecycle and decision management at FICO. “Banks can tackle the real problem of ‘liar loans’ by improving their ability to detect inaccuracies, enabling safeguards from bad debt while effectively preventing customers from committing fraud.”
More information: https://www.fico.com/en/latest-thinking/ebook/consumer-survey-2023-digital-banking-customer-preferences-and-fraud-controls
Acceptance of Application Fraud Rings Alarm Bells for Lenders
The FICO survey reveals that a quarter of Thai consumers (
Even when a mortgage application from an existing customer appears legitimate on paper, the established banking relationship can be exploited to commit fraud. By exaggerating income, such as inflating self-employment earnings or overstating bonuses, as well as omitting debts or misrepresenting personal circumstances, applicants can manipulate the loan process. This makes it difficult for lenders to detect these discrepancies without thorough and proactive verification measures.
“Combatting application fraud requires banks to elevate their risk assessment strategies,” noted Sharma. “This should include integrating comprehensive data analysis, employing anomaly detection analytics, and enhancing their ability to detect early signs of sleeper fraud or impending bust outs.”
Falsifying Insurance Claims Is Most Taboo
According to FICO’s research, falsifying insurance claims is viewed as the most taboo form of fraud, with around two-thirds of consumers globally believing it is never acceptable to exaggerate the value of stolen property or add false items to a claim. This sentiment is echoed by two in three Thai consumers (
Matching global trends, attitudes shift regarding other financial products. Half of consumers globally, including more than half of Thais, feel it is unacceptable to exaggerate income on a mobile phone contract (
“The FICO survey reveals that many are adapting their views on application fraud based on circumstances,” noted Sharma. “Financial institutions must continuously adapt their fraud prevention strategies to keep up with these evolving trends, ensuring that customers are not inadvertently led into unethical or illegal activities.”
The survey was conducted in November 2023 by an independent research company adhering to research industry standards. 1,002 Thai adults were surveyed, along with approximately 12,000 other consumers in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240923471658/en/
Lizzy Li
RICE for FICO
+65 9034 7768
lizzy.li@ricecomms.com
Saxon Shirley
FICO
+65 9171 0965
saxonshirley@fico.com
Source: FICO
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