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Which is really dumb. If you're whole company is based around being a middle man between renters and owners your answer to the inevitable issue of theft by rent
by rtkwe 7y ago
Which is really dumb. If you're whole company is based around being a middle man between renters and owners your answer to the inevitable issue of theft by renters had better be better than a giant shrug and "we'll keep trying to charge this fraudster (who's definitely either using a stolen card or whole identity)."
- robocat 7y agoHow do they protect themselves from thieves intending to steal from their insurance? I.e. thief "lends" bike to themselves (fake account) and falsely claims it was stolen? Clearly some risk (needs real identity, insurance fraud), but clearly some gain too. The only solution is to put up a bond of approximately the street value of a similar stolen motorbike.
- detaro 7y agoIs that different than somebody insuring their own car at an insurance company and then pretending it was stolen?
- chii 7y agoInsurance companies do a really good job if checking legitimate identities and for fraud when it comes time to pay out.
- rtkwe 7y agoAccount vetting, deposits, or actual identity verification would be a good start. It'll be hard but if your company is planning on making money off other people lending their expensive equipment out you should really make sure you're protecting those people because they're the heart of your business. Reimburse the lender then go recover that from the thief, if you're doing validation and security well enough it should be easy to find them and rare enough the extra costs aren't back breaking.