Colorado Insurance Fraud
The Colorado Division of Insurance recently posted a warning about possible consumer fraud. In short, a caller claims to be representing the Colorado Insurance Commission and has a refund check for insurance premiums or co-pays, then offers to deposit the funds into your bank account if you can provide the account and routing number. Below is a copy of the full article from DORA and the Colorado Division of Insurance:
Denver – A possible scam surfaced yesterday targeting Colorado consumers. The Colorado Division of Insurance warns consumers never to give out personal banking information over the phone.
Here’s the setup: a caller claims to be a representative of the “Colorado Insurance Commission.” The caller says the state has taken over the consumer’s insurance company.
The caller claims the state sent the consumer a check for $399 to refund co-pays, but the check was returned by the U.S. Post Office. The caller then says he can direct deposit the check into the consumer’s banking account if the consumer would provide account information.
The Division wants consumers to know that Division representatives never ask consumers for banking information, nor does anyone identify himself or herself as being with the “Colorado Insurance Commission.” There is no such entity; the office is known as the Colorado Division of Insurance and is part of the Colorado Department of Regulatory Agencies. If you believe you may be the victim of a scam, please contact your local law enforcement.