Is your vehicle insured or are you a victim of fraud?
OPP News Release ******************** ORILLIA – Every vehicle owner is seeking lower auto insurance premiums and scammers know this.
OPP News Release
ORILLIA – Every vehicle owner is seeking lower auto insurance premiums and scammers know this. To kick off March as Fraud Prevention Month, members of the Ontario Provincial Police (OPP) Anti-Rackets Branch remind you, “if it sounds too good to be true, it likely is.”
Fraudsters have been offering low automobile insurance premiums in newspaper and online ads, and at trade shows often impersonating legitimate, reputable vehicle insurance brokers. Their various ‘offers’ guarantee saving you hundreds of dollars in premiums. They may tell you that the lower rates are for a limited time only and that you need act now.
After seeing pledges of “low rates” and “everyone is accepted”, victims have sent premium payments to these phoney vendors through Western Union or Money Gram. A bogus insurance slip is then mailed or e-mailed for home or office printing and for placement in your vehicle. Victims don’t realize they have no insurance coverage until they are involved in a collision or are stopped by police.
In 2012, the Canadian Anti-Fraud Centre (CAFC) – of which OPP is a partner -- received 7,394 Canadian complaints of service scams including auto insurance fraud. The 2,736 people who were identified as victims lost a total of just over $2.1 million.
If you are about to purchase auto insurance, you can protect yourself by verifying legitimate vendors through two reputable sources:
· Registered Insurance Brokers of Ontario (RIBO) - All insurance brokers must be licensed in Ontario with RIBO. Call 1-800-265-3097 or visit www.ribo.com
· Financial Services Commission of Ontario (FSCO) - In Ontario, automobile insurance is regulated by FSCO, an agency of the Government of Ontario’s Ministry of Finance. In order to legally provide insurance, the insurance companies must be registered with FSCO. Visit www.fsco.gov.on.ca
If you suspect you have purchased phoney auto insurance -- or think you or someone you know has been a victim of any type of fraud, contact your local police, the Canadian Anti-Fraud Centre at 1-888-495-8501, or Crime Stoppers at 1-800-222-8477 (TIPS).
FRAUD…Recognize it…Report it…Stop it.
“Fraudsters target anyone and everyone they can - including the most vulnerable people in society. The financial impact of fraudulent activities is staggering and continues to grow. The best defence against the many types of fraud is widespread public education and enhancing awareness.”
– Deputy Commissioner Scott Tod, OPP Investigations and Organized Crime
“To stop the harmful effects of fraud on so many aspects of our lives, it needs to be reported to police. If fraud is not identified and reported for investigation, it will continue in one form or another to fuel other illegal activities, which leads to further victimization.”
– Detective Inspector Paul Beesley, OPP Anti-Rackets Branch
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