Fraud Prevention Month: accurate documents

| Industry bulletins

March is nationally recognized as Fraud Prevention Month. AMVIC has once again joined the Competition Bureau’s Fraud Prevention Month campaign, educating consumers and industry on how to recognize, reject and report fraud.

Document accuracy is critical to ensure the correct information is being recorded, including on bills of sale or financing applications. Ensuring accuracy on your documents will protect the consumer, your salespeople and your business.

Automotive businesses are required to create and maintain complete and accurate financial records (Consumer Protection Act, Section 132(1) and Automotive Business Regulation (ABR) Section 9). The bill of sale must accurately reflect the nature of the transaction and there are specific items that must be included, as listed in the ABR, Sections 31.2(1) and (2). A bill of sale checklist is available on to help your business address the requirements.

All fees and charges, the total cost of the vehicle, any deposits or down payments and any remaining balance are examples of information that must be included. Bills of sale must match the information provided in financing applications.

Visit for more information.

For information on this year’s federal Fraud Prevention Month theme, “Tricks of the trade: What’s in a fraudster’s toolbox?”, visit the Competition Bureau’s website.