The VSA wishes to alert licensees of potential fraudulent activity in relation to vehicle transactions. This dealer alert is being issued due to a recent increase in fraudulent purchase activity that has affected numerous dealerships across BC.
The Reported Fraudulent Activity:
While law enforcement in the affected jurisdictions has been notified of this fraudulent activity, it is essential for dealers to be aware and take tangible measures to guard against fraud.
Fraud Prevention Measures:
The Canadian Anti-Fraud Centre recommends several safeguarding measures to businesses to protect against fraud:
Ensure that a person’s identification is vetted and inspect documentation thoroughly. If there is any doubt during a deal or if information may be missing, defer releasing a vehicle until all information is at hand. Third party verification services are available from Equifax and TransUnion.
Should you believe there may be a risk of an unauthorized transaction: