FRAUD ALERT – Vehicle Insurance Scam

Investigators from Peel Regional Police’s Fraud Bureau want to alert the public about an insurance fraud, where suspects pretend to sell vehicle insurance.

The scam involves suspect(s) advertising vehicle insurance, usually through a newspaper. The ads indicate that they can find victims low rate insurance, and then ask for payment via wire transfer such as Money Gram or Western Union.

Victims, believing that they are purchasing legitimate insurance, wire money to the fraudsters and receive a fraudulent insurance slip. It is only after they are involved in a collision, or stopped by police, that they realize that they are uninsured.

If you suspect that you have purchased a fraudulent insurance slip, police urge you to contact the Registered Insurance Brokers of Ontario, at (416) 365-1900 or 1-800-265-3097, or directly contact the insurance company listed on your policy. Do not contact the broker listed on your insurance slip. You should also take action to purchase legitimate insurance.

If you discover that you have been issued a fraudulent policy, confirm where the funds were received, through the money transfer company, and then report it to your local police service.

To learn more about this scam, and other scams affecting Canadian residents, visit www.phonebusters.com . Phonebusters is a national call centre that gathers and reviews fraud reports from within Canada, in order to determine trends.

Peel Regional Police would like to remind people that if something seems too good to be true, it most likely is.

Anyone who has any information regarding this fraud is urged to contact the Fraud Bureau at (905) 453-2121, ext. 3335. Anonymous tips can also be left by calling Peel Crime Stoppers at 1-800-222-TIPS (8477), by visiting www.peelcrimestoppers.ca, or by texting “PEEL”, followed by your tip, to CRIMES (274637).