At Aviva, we’re serious about identifying and addressing theft and fraud trends, while staying ahead of emerging risks. From the proliferation of fake invoices to the alarming rise in auto re-VIN schemes and the challenges of overseas stolen vehicle recovery, we have insights and strategies to help you stay informed.
False invoices are on the rise
It’s becoming increasingly common for businesses to receive counterfeit invoices bearing the name of familiar vendors. The use of receipt generators, Google images and simple editing programs makes fabricating invoices a simple task for anyone.
Fraudsters are creating false invoices or manipulating existing ones to change items, increase costs, change payees and more.
How to spot a fake invoice:
- Invoice is for services or items not yet rendered
- Mismatch between the invoice image, font style/size, other information
- Payment or bank account information for vendor is different from previous invoices or does not match existing records
- Improper or changes to url (e.g. .com turns to .org)
- Vendor information is inaccurate
- Blurry details, branding and logos
- Typos and grammatical errors
- Invoices in even amounts
- Third party url (e.g. receipt mansion, receipt generator)
Aviva stats: 300% rise in auto re-VIN investigations
“Re-vinning” is the process of changing a stolen car’s vehicle identification number (VIN) and replacing it with a different VIN to appear legitimate.
Many of today’s thieves steal vehicles with the intention of shipping them overseas. However, not all stolen vehicles make it abroad. Some remain in Canada to be sold to the public but, to cover up or disguise the theft, criminals place a “new” VIN on the car. This new VIN could belong to another vehicle or be completely made up.
Since the re-vinning phenomenon takes advantage of weaknesses in the provincial governments’ vehicle registration processes, Aviva has provided strategic recommendations to the federal government, including calls to:
- Enhance information sharing. Tighter controls around vehicle registration and information sharing between law enforcement, manufacturers government agencies and Insurers, will improve the integrity of provincial licensing databases.
- Link provincial licensing databases to one another to prevent a VIN from being registered in several provinces.
- Require insurers to report the VINS of stolen cars, fraudulent VINS and cars that have been deemed total losses.
- Ask each province to review its current VIN registration processes to identify and fix processes that are currently being exploited.
How Aviva is combatting re-VINs
Aviva is proactively identifying re-VIN vehicles by completing validation on:
- whether the vehicle was truly manufactured or
- whether the VIN matches that of the vehicle being registered. If there is a concern with the VIN, Aviva will reach out to the broker and customer to request an inspection of the vehicle and will help guide the customer through the next steps if a re-VIN has been identified.
For a limited time, we’ve also been installing Tag location devices, free of charge, for customers with high-risk vehicles in high-risk areas. These devices work better than GPS tracking because Tag vehicle tracking doesn’t rely on cell signals – which can be blocked by thieves.
A small Tag logo is etched on the driver and passenger side windows and serves as a deterrent for thieves that recognize Tag as a highly effective car tracking device. Tag has a very high recovery rate when a vehicle is stolen.
Aviva is repatriating stolen vehicles overseas
There is a high demand for Canadian vehicles overseas, and thieves have developed a system for loading stolen cars onto ships within 24 hours.
Aviva now has a dedicated overseas recovery team to locate and bring vehicles back. To date, the team has successfully recovered dozens of vehicles in various continents and countries, including Africa, the United Arab Emirates, Europe and Asia.
It’s important to note that repatriation is a costly enterprise: 40 to 50% of the value of each stolen vehicle can be lost on the cost to locate and bring them back or sell them outside of Canada.
We will continue to lobby for changes that will help prevent vehicles from being stolen and exported in the first place.
Looking for risk management solutions for your business?
Global Corporate & Specialty team is here to answer questions and offer advice. Reach out to us at gcs.ca@aviva.com
