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(KINCARDINE, ON) - The Canadian Anti-fraud Centre (formerly Phonebusters)
and the Ontario Provincial Police (OPP) are warning people who are
seeking and obtaining automobile insurance, that fraudsters have been
advertising fraudulent insurance premiums in Ontario newspapers and on
websites.
Signs consumers need to be aware of are:
Unusually low rates
Everyone is accepted
A phony, invalid insurance slip is mailed or emailed to buyers after
they have sent their premium through Western Union or Money Gram.
Complaints forwarded by victims of this automobile insurance scam
confirm that the scammers have used company names such as “Arthur and
Son”, “Smith and Sons” and “Addison and Sons”.
A scam of this nature is serious in that victims are not aware that
their automobile insurance is not valid until they are involved in a
collision or are stopped by police.
The Canadian Anti-fraud Centre is advising citizens to protect
themselves by following a few safety measures when shopping for
automobile insurance. Legitimate insurance companies and brokers have to
be registered in Ontario and a consumer can verify a company through the
following two sources of information:
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All Ontario Insurance brokers have to be licensed with the Registered
Insurance Brokers of Ontario (RIBO). You can contact RIBO at
416-365-3098 and 1-800-265-3097 or by visiting www.ribo.com
In Ontario, automobile insurance is regulated by the Financial Services
Commission of Ontario (FSCO), an agency of the Ontario Ministry of
Finance. In order to provide insurance, an insurance company must be
registered with FSCO. You can contact FSCO at www.fsco.gov.on.ca
If you suspect you have or are about to purchase fraudulent insurance,
please contact your local police service and the Canadian Anti-fraud
Centre at 1-888-495-8501.
You may also visit
www.phonebusters.com to educate yourself against fraud and
scams currently affecting Canadians.
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