MRAA, 700Credit Launch Guide to Fraud Detection & Prevention

Nov 7, 2023

The Marine Retailers Association of the Americas (MRAA) and 700Credit, an MRAA Education Champion, announce the release of a new MRAA Mini-Guide “Fraud Detection and Prevention in the Marine & Powersports Industry,” to help dealers understand fraud and implement detection tactics to prevent it.
“Dealership fraud has become an $8B industry and the cost continues to rise,” said Ken Hill, Managing Director, 700Credit. “And there isn’t just one type of fraud with one single solution to detect it. This guide was created to serve as a roadmap for dealers to learn about and identify the different types of fraud, where it can attack your dealership and the action you can take to detect and defend your business.”
The free, 10-page mini-guide provides readers with a quick overview of the immensity of fraud within the marine and powersports industry and the possible consequences dealers face if they don’t install processes to inhibit its effectiveness. It also dives into the four major types of fraud, which include identity theft, synthetic ID fraud, driver’s license fraud and misrepresentation of income and employment, and presents solutions to detect and prevent each type.
“Fraud has become more sophisticated with technology and more challenging to detect,” said Jerrod Kelley, MRAA Content Manager. “Without the proper tools and training, your dealership could end up wasting time and losing money on thieves instead of reinvesting back in your business. That’s why it’s important to have defensive solutions and expert guidance from 700Credit to help your team mitigate risk and avoid financial hits to your dealership.”
As the leading training and education organization for the marine dealer body, MRAA fuels the success of the boating industry by delivering dealerships resources, implementable tools and education programs they can use to strengthen their organizations. As the second-highest level of membership, Education Champions power the educational programming that the MRAA delivers to its members in a year-round sponsorship program. Through contributions and sharing its expertise, 700Credit, one of 10 Education Champions, bolsters MRAA’s world-class education, helping dealers find the success they desire.
Download the MRAA Guide to Fraud Detection & Prevention here.

Related Posts

NMMA Canada’s Day on the Hill event hits a new high in 2024


While the Day on the Hill lobby session has been a key activity for NMMA Canada for many years now, I feel that the event hit a new high in the 2024 session in Ottawa on May 27 and 28th.

Lead by Executive Director Marie-France MacKinnon and executed by her team and their public affairs firm, BlueSky Strategy Group, the results were impressive. The NMMA Canada Board of Directors were organized into teams with business interests and special skills matched up to politicians and senior bureaucrats to most effectively present the marine industry’s agenda of issues. 

Read More

Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.

The Hydrobike, a key concept that embodies a vision for the future

DECATHLON, determined to erase the boundary between land and water, introduces its latest forward-thinking concept: the HydroBike. This innovation from the French sports giant aims to democratize access to nature while staying ahead in the transformation of their business model. 

The initial assessment: paddle sports are often inaccessible to less experienced individuals, assuming the acquisition of paddling skills.

Read More

Compass works when electronics don’t

Hubbell-Marine Stainless steel outlet covers

Even in the event of an onboard power failure, a Ritchie Navigation SuperSport Helmsman SS-1002 magnetic compass still works. Plus, when the vessel is moving slowly in fog or while trolling, it can do something a GPS can’t: show the actual heading in real time. As a back-up to modern electronics, it’s a vital navigational tool that belongs on every commercial and recreational boat.

Read More