FSCO sends out insurance warning

FSCO sends out insurance warning | Insurance Business

FSCO sends out insurance warning
The Financial Services Commission of Ontario (FSCO) is warning consumers and insurers that the company My Shop Inc., (AKA “My Shop Ltd.”) is conducting a mystery shopper scam.

This company has sent letters and cheques that appear to be from Allstate Insurance Company of Canada to people, citing payment for a mystery shopper program. The letters ask consumers to deposit the cheque and send the confirmation/deposit receipt to the following email address: info@myshopltd.org.

But those cheques are fraudulent, warns FSCO. They are not authorized by Allstate, nor is Allstate affiliated with My Shop Inc., in any way.

This type of scam is a version of an advance fee fraud.

Consumers should exercise caution if they are contacted by anyone from these coordinates and are encouraged not to deposit the cheque or contact the company. Instead forward copies of the materials received to the Canadian Anti-Fraud Centre.

Allstate is a target of this scam and has published a warning notice on its website. Other insurance companies may potentially become targets as well.

FSCO's website contains a list of all insurance companies and agents licensed to do business in Ontario.