Spotting Fraudulent Credit Applications

The following fraud traits should be considered as alerts only and cause for further investigation. Any one trait or combination of traits is an indication of the possibility of fraud, but should not be considered as fraud without confirmation through additional investigative procedures. We recommend that you discuss fraud awareness and prevention techniques with your employees during company training sessions and sales meetings.

Patterns that have indicated fraud at various financial institutions in the past:

Application fraud traits

First line of defense in ID Theft

• Signatures
  • Name reversals – signature line vs. Applicant Name Line
  • Scribbled or Unrecognizable
  • Signature does not compare to signature on ID
• Errors
  • Obvious misspellings
  • Corrections to application information
• Physical Presentation
  • Avoids eye contact in the application process
  • Outwardly nervous or unusually distractive
• Other
  • Salary information does not appear to be corresponding
  • Sparse or incomplete information provided

If your sales people become suspicious in a credit application situation, they must first allow the applicant to apply for credit in order to assure compliance with Fair Lending regulations. Wells Fargo Bank, N.A. will analyze the applicants' information and credit bureau report.

If the application is approved, contact the Wells Fargo Bank, N.A. Fraud Team at 1-800-257-7799 (Monday – Friday, 8:00 am - 7:00 pm Central Time) to advise us of your concerns or suspicions. We will do a verification check of the customer from our office and will speak directly to the customer to verify his or her identity if necessary.

Contact us

By phone: 1-800-257-7799, Monday – Friday, 8:00 am - 7:00 pm Central Time
By fax: 1-800-499-2567
By email: frauddept@wellsfargo.com

Note: The points above are suggestions rather than requirements. Following any or all of the suggestions does not relieve a dealer of fraud liability.