Though both articles did mention that sites like Lending Club use various indicatiors and some Machine Learning models to determine whether they need a manual verification of the income, but that detail was hidden. We at Croudify have been analyzing the loan data for more than 2 years and wanted to shed some light on the article and show that while the headline is true the devil is in the details and actually the platforms have been doing a very good job in identifying the fraud.

https://croudify.com/online-lenders-are-doing-a-good-job-of-identifying-the-frauds-even-without-hard-income-verification/