IBC highlights “victims” of auto theft: Fraud Forum

In its new focus on auto theft and injury rings, the Insurance Bureau of Canada (IBC) is trying to highlight that insurance fraud and theft are far from “victimless” crimes. Speaking at the Annual Toronto Fraud Forum, co-hosted by the Association of Certified Fraud Examiners Toronto Chapter (ACFE) and the Canadian Association of Special Investigation Units Trillium Chapter (CASIU), Richard Dubin, vice president of investigations for the Insurance Bureau of Canada (IBC) says between 20 and 30 people die every year as a result of auto theft incidents. “This isn’t a victimless crime, we’re trying to get this across to prosecutors and the judiciary.” Auto theft costs insurers about $600 million annually, although the overall cost is over a billion dollars when other factors are added in, such as police services, ambulances and more. And auto theft has changed, becoming more and more an international crime carried out by organized rings. Dubin notes that 25-30% of vehicles stolen in the Toronto area are never recovered, and these cars often end up in other countries, including the U.S., but also areas of West Africa, Central America and the Middle East. For this reason, the IBC is working on close ties with overseas authorities to effect the repatriation of Canadian stolen vehicles.They are also working on recovering stolen vehicles which remain in the country, with the “Autofind” program which scans and references vehicle license plates proving a success in Toronto, where 1,400 vehicles with an estimated value of $10 million have been recovered. This program will now be extended to other urban centers such as Montreal, where the recovery rate is even worse than in Toronto.IBC is also working to stop “staged accident” rings, with Dubin stressing the need for dedicated prosecutors and new criminal code additions to address insurance fraud specifically. The IBC is also working to train prosecutors to obtain better conviction rates and stiffer sentences for fraud.