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Car Dealer Insider May 15, 2012
| - Tips for protecting your dealer dealership from hackers and cyber thieves
Have you wondered what all those "make big money by working at home" ads have to offer? Here's some insight.
As if car dealers don't have enough to worry about these days, here's a another burgeoning trend to keep you awake at night: Cyber criminals have successfully stolen millions of dollars from mid-sized companies, including car dealers, in a sophisticated and increasingly common form of online banking fraud.
According to the FBI and other fraud experts, the perpetrators have used the same basic tactics in each attack. They steal a business's online banking credentials with the help of malicious software distributed through spam. The intruders then initiate a series of unauthorized bank transfers out of the company's accounts, usually in less-than-$10,000 increments. From there, the funds are sent to "money mules," willing or unwilling individuals recruited over the Internet through work-at-home job scams. When the mules pull the cash out of their accounts, they are instructed to wire it (minus a small commission) via services such as MoneyGram and Western Union, typically to organized criminal groups operating in countries like Moldova, Russia and Ukraine.
| - Trend Spotting
Average wholesale used vehicle prices in April remained near peak levels achieved in the Spring/tax season last year and in 2010, says Tom Kontos of ADESA Analytical Services....Based on data from CNW Marketing/Research, retail used vehicle sales in April were flat year-over-year for franchised dealers and down 8.0% for independent dealers, possibly reflecting pushback from used vehicle shoppers facing high prices and in some cases opting for new vehicles as a result.
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