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Home > Blog > Latest Trends in Insurance Fraud
TUESDAY, JANUARY 18, 2022

Latest Trends in Insurance Fraud

“Re-vinning” of stolen vehicles — where thieves steal a vehicle, put what appears to be a legitimate vehicle identification number (VIN) on the front dash and then sell it to an unsuspecting customer — is increasing as a fraud trend.

Other continuing trends include rising electronic auto theft across the country as more vehicles are equipped with technology like push button start, and high-end SUVs that continue to be stolen for export.

How can consumers protect themselves.

CARFAX allows consumers to check VINs to ensure the vehicle history jives and to compare electronic records and hardcopies to “make sure that the hardcopy one hasn’t been manipulated.” The Canadian Police Information Centre’s website allows consumers to look up VINs to see if the vehicle is on file as stolen.
 
You’ll really get double victimized. If YOU buy a vehicle and then it’s determined to be a stolen vehicle, that vehicle is going to be seized. You’ll be without your vehicle AND you won’t get your money back!!!
 
Another trend is that high-end SUVs continue to be stolen for exports. While some vehicles are stolen to commit another crime or to be used to go for a “joyride,” many others are stolen by organized crime groups to be sold to unsuspecting consumers in Canada, exported or to be stripped down for parts that are then sold.
 
Rising electronic theft is another concern. Thieves can conduct ‘relay attacks’ by trying to intercept the radio frequency from the key fob to the vehicle and then program a new key fob to fit that car. To protect themselves, consumers shouldn’t leave fobs unprotected at the front entrance of their homes. They can place their key fob in a metal box or a bag pouch to limit or diminish the radio frequency emitted from the fob.

There’s other electronic methods that we’re starting to see, probably more prevalent than [relay attacks] is the OBD port.
 
This involves criminals breaking into the car’s onboard diagnostic system port and programming a key fob for the vehicle. 
 
Regionally, there is a variation in the types of vehicles being stolen. For example, in Ontario and Quebec, SUVs are stolen more than other types of vehicle. In Alberta and Saskatchewan, pick-up trucks are stolen more often, likely due to work involving the oil and gas and construction and farming industries.
 
Posted 2:05 PM

Tags: insurance, fraud, trends, 2022
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