RIBO has been made aware of a recent scam in the General Toronto and Hamilton Area of Ontario involving falsified automobile insurance policy documents, including bogus pink slips and counterfeit insurance documents.
Paper copies of bogus pink slips involved in the scam appear to be issued by a large insurance company but were not in fact issued by the insurance company, but rather an unknown third party. Consumers that were victims in the scam have only later determined that following payment of premiums that insurance was not placed.
Consumers are strongly encouraged to verify that the person they are dealing with in the transaction is licensed through the Registered Insurance Brokers of Ontario (RIBO) or the Financial Services Regulatory Authority of Ontario (FSRA). Information for individuals who are licensed to sell auto insurance is available on these websites: