A duplicitous “insurance company” is making the rounds in Ontario, conning consumers into thinking they are winners of a sweepstakes program through a mail scam.
The Financial Services Commission of Ontario (FSCO) issued a warning yesterday, urging consumers to be on the lookout for an unlicensed insurance company called TD Insurance, Melohre Mannex.
Learn more about fraud insurance here.
While the company has a similar name to another licensed insurer, it is not registered or affiliated with the FSCO, nor with the Registered Insurance Brokers of Ontario (RIBO).
According to a release by the FSCO, the company had issued notices advising recipients that they were among the winners of a Home Phone Mega Sweepstakes Raffle.
The company claims to be working for the North America Financial Clearing Services in finding winners of the contest who have yet to claim their supposed winnings. The entity also claims that it wants to help the “winners” in navigating the laws and protocols laid out by federal and state regulations on sweepstakes winnings.
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To supposedly help pay for the taxes, insurance, handling, and shipping fees related to the handling of the cash prize, the company sends recipients cheques, urging them to contact the claims representative listed on the documents to activate the cheque and start the claims process.
The FSCO has labeled this type of scam as an advance fee fraud.
The regulatory agency has advised consumers to exercise caution whenever they receive unsolicited correspondence advising of lottery, sweepstakes or raffle winnings. Those consumers who do receive such materials should forward copies to the Canadian Anti-Fraud Centre.
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