IBC urges government to close ‘reVINing’ loopholes
IBC urges government to close ‘reVINing’ loopholes | Insurance Business Canada
Motor & Fleet
IBC urges government to close ‘reVINing’ loopholes
“Halting the export of stolen vehicles cannot be the sole focus”
Motor & Fleet
By
Terry Gangcuangco
The Insurance Bureau of Canada (IBC) has called for a stronger focus on the issue of ‘reVINing’ or the fraudulent alteration of vehicle identification numbers (VINs) to sell stolen cars.
Hanna Beydoun, policy manager at IBC, pointed out that ReVINing allows criminals to conceal a vehicle’s true identity by altering its VIN, which essentially acts as its fingerprint. ReVINing involves criminals obtaining a legitimate VIN, often through vulnerabilities in the system, and using it to fraudulently register a stolen vehicle.
Beydoun lamented that current efforts primarily focus on preventing stolen vehicles from being exported out of the country.
It was also stressed that if the true identity of a reVINed vehicle is uncovered, the vehicle can be seized and returned to its original owner, leaving the buyer with no financial recourse unless they purchased it from a licensed dealer.
The problem also contributes to rising auto insurance premiums. In Ontario alone, IBC estimates that auto theft adds an average of $130 to drivers’ insurance costs.
“While these issues are particularly pronounced in Ontario, similar issues persist in other provinces as well, compromising the integrity of vehicle registrations nationwide,” she stated. “Provincial governments can play a pivotal role in tackling reVINing by closing the loopholes that allow the exploitation of VINs.”
Beydoun suggests measures like eliminating public access to registrant identification numbers, banning third-party VIN authorizations except for those with power of attorney, and restricting the use of new vehicle information statement forms to licensed dealers.
She added that the federal government also has a significant role to play.
“The National Action Plan for Combatting Auto Theft includes a commitment to combat reVINing, specifically by urging the provinces and territories to take action against fraudulent vehicle registrations,” Beydoun said.
“The Insurance Bureau of Canada is calling on the federal government to assume a leadership role in fostering better data-and information-sharing with provincial registries and closing the vehicle registration loopholes that criminals often exploit.”
One recommendation is the establishment of a National VIN Registry.
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