Auto Theft Fraud Page Content
Auto Theft Fraud Overview
According to the National Insurance Crime Bureau, auto theft is a very profitable business, generating nearly $8 billion a year. Despite declining auto theft rates, business continues to grow in the United States due to the ever increasing value of cars.
It's an awful feeling to be a victim of auto theft. According to the FBI, auto theft occurs about every 30 seconds in the United States, so if you are a victim, don't feel alone. Stolen Lost & Found Online is here to help. Stolen Lost & Found Online is the worlds largest online auto theft database, it's both free and easy to search auto theft reportings and free to report auto theft online.
Auto theft fraud is when the owner of a car reports an auto theft when in reality the owner themselves disposed of the car for insurance claims and / or to get out of car payments. Here are a few examples of auto theft fraud:
The vehicle owner lies about the auto theft then destroys the vehicle to collect an insurance claim. Many times the vehicle reported stolen will be found burned or damaged in secluded areas, sunken in a lake and even at times found buried underground.
30 Day Hold Out
When a vehicle needs extensive repairs, the owner will report the vehicle stolen and hide it for 30 days - long enough for the insurance claim to settle. Once the claim is settled and compensation paid, many times the vehicle is found abandoned.
Export Fraud Scam
Once a bank loan is secured for a new vehicle, an insurance policy is obtained for it. The owner then creates a fraudulent auto theft report, when in reality it was shipped overseas to be sold on the black market. The owner then receives compensation for the insurance policy and profits earned from the black market transactions overseas.
The creation of an artificial title or registration to create insurance on a vehicle that does not exist. An auto theft report is then created to file a fraudulent insurance claim. Antique or luxury vehicles are commonly used in this scheme, producing larger insurance compensation.
How To File A Auto Police Report
The first step in any occurrence of theft is to report the incident to the police immediately. This helps you recover the stolen item if it gets confiscated and helps with an insurance claim process on the account an official police report is required to file a claim.
Here are the general steps to file a police report:
- Call the non-emergency phone number for the local police station or law enforcement agency where the item was stolen.
- Obtain the physical address and go to the police station or law enforcement agency.
- Once there, go to the stolen property department if applicable.
- While creating a stolen property police report it's important to provide the theft detective or clerk with as many details as possible, especially the item's serial number, any identifying marks or stickers. Also include when, where and how the item was stolen.
- Once you have completed the report, be sure to obtain a copy and retain it for follow-up and recovery.
It's important to file a police report for theft, no matter how big, small or valuable the stolen item is, because it helps the police know a thief's (or thieves) M.O. and to control theft by using crime data to increase patrol in areas with a high or rising crime rate. Sometimes an area's theft rate can skyrocket because people don't report theft incidents because the stolen item isn't of high monetary value. This is called petty theft and is how a petty thief can continue stealing because the police are not made aware of their activity.
How To Report A Auto Online
Get the world on your case! Here are the steps to create an online Auto report for free:
- If not yet registered, click the "Register" link at the top right-hand side of the page or click the "Report" button at page top.
- Enter your information and click the "Register" button.
- Open the email account used for registration, open the verification email and click the link in the email body or copy and paste it in your browser address bar and press the "Enter" or "Return" key.
- Log in to the Stolen Lost Found Online website
- Click the "Report" link in the main navigation bar or the "Report" button at page top.
- Select the appropriate category.
- Select the appropriate sub-category.
- Select to post the item either as Stolen, Lost or Found.
- Enter as much information as possible - the make, model and serial number are especially important. Also helpful are any identifying marks and photos if available.
- Click the "Submit" button.
That's it. Once the report is submitted it will post on Stolen Lost Found Online immediately and will appear on the search engines within a day. By reporting online you literally make a world of difference for recovering your item, long into the future.
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Auto Theft Fraud Conclusion
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