Carfax Launches Tool to Combat Vehicle Identification Number Cloning
A new tool aims to crack down on vehicle fraud by helping dealers identify potentially fraudulent Vehicle Identification Numbers (VINs) and vehicles reported stolen across North america.
New Portal Flags Fraudulent VINs, Stolen Vehicles
carfax has introduced a new portal for its subscribing dealerships designed to detect cloned VINs and identify stolen vehicles. The service leverages Carfax’s extensive database to flag anomalies and potential fraud during vehicle transactions.
127,000 Cloned vins Estimated in Ontario Alone
Carfax estimates that approximately 127,000 cloned VINs are currently in use on registered vehicles in Ontario, highlighting the scale of the problem this new tool aims to address.
Industry Expert Praises Anti-Fraud Initiative
Automotive expert Benoit Charette hails the carfax initiative as a meaningful step forward.He believes the tool will greatly simplify the detection of vehicles with cloned VINs for dealerships, delivering “a solid blow to the fraud industry.”
Border Services agency Data Bolsters Carfax Database
Since March, the Canada Border Services Agency has been sharing data with Carfax regarding vehicles exported out of the country. This collaboration is intended to prevent thieves from cloning VINs of exported vehicles.
Future Expansion to Individual Consumers Planned
While currently available to dealerships with Carfax subscriptions, the company plans to extend the VIN verification service to individual consumers across Canada in the future. A specific timeline for this broader rollout has not yet been announced.
Here are two PAA (People Also Ask) related questions, suitable for inclusion with the provided content:
Carfax Launches Tool to Combat Vehicle Identification number Cloning: Q&A
Get the facts straight on Carfax’s new anti-fraud tool!
Q&A: Unmasking VIN cloning & Protecting Consumers
- What is VIN cloning, and why is it a problem?
- VIN cloning involves criminals duplicating a legitimate Vehicle Identification Number (VIN) and applying it to a stolen or or else fraudulent vehicle. This allows them to ”wash” the vehicle’s history, making it appear legitimate. It’s a notable problem because it deceives buyers, fuels crime, and can lead to financial loss.
- How does Carfax’s new tool work?
- The new portal uses Carfax’s extensive database to flag anomalies and potential fraud during vehicle transactions. Such as,it can identify if a VIN has been reported stolen or if there are inconsistencies in the vehicle’s history that suggest cloning.
- Who is this tool currently available to?
- Currently, the tool is available to dealerships that subscribe to Carfax services.
- What is the estimated scope of VIN cloning in ontario?
- Carfax estimates that approximately 127,000 cloned VINs are currently in use on registered vehicles in Ontario.
- How is the Canada Border Services agency involved?
- Since March, the Canada Border Services Agency has been sharing data with Carfax regarding vehicles exported out of the country. This collaboration helps prevent thieves from cloning VINs of exported vehicles, a common tactic used to “clean” stolen vehicles.
- Will this tool be available to individual consumers?
- Yes,Carfax plans to extend the VIN verification service to individual consumers across Canada in the future,but no specific rollout date has been announced.
- What is the importance of this initiative?
- This is an enormous step forward in the fight against vehicle fraud. This tool will help protect both dealerships and consumers from unknowingly purchasing vehicles with cloned VINs or stolen histories, and ultimately, save consumers money.
Stay informed and protect yourself. Keep an eye out for the consumer version of this powerful tool from Carfax!
