Avoid Scams and Frauds

Banking

How do I report a suspected incident of Banking Fraud?

If you believe that you have been a victim of banking fraud, or if you are aware of an instance of banking fraud, contact the Banking Division's consumer services section to file a complaint against the banking company email dfr.bnkconsumer@vermont.gov, call 802-828-3307, or go to File a Complaint.

Addtional Resources

You can also obtain additional information from the following resources:

Insurance

What Is Insurance Fraud?

Insurance fraud occurs when an insurance company, agent, adjuster or consumer commits a deliberate deception in order to obtain an illegitimate gain. It can occur during the process of buying, using, selling or underwriting insurance.

Fake insurance companies defraud consumers by collecting premiums for bogus policies with no intention of paying claims. These "companies" might offer policies at costs that are significantly lower than competitors' prices or they might be difficult to reach by phone – if there is a listed phone number at all. Consumers should check in advance that they are dealing with a legitimate, licensed insurer before signing an application for a policy. You can also check the status of a company license online.

How do I report a suspected incident of Insurance Fraud?

If you believe that you have been a victim of insurance fraud, or if you are aware of an instance of insurance fraud, contact the Insurance Division's consumer services section to file a complaint against an insurance company call 800-964-1784, email dfr.insuranceinfo@vermont.gov, or go to File a Complaint.

You can also visit NAIC and complete the form provided by the Online Fraud Reporting System (OFRS). Through the OFRS, the NAIC and state regulators are encouraging consumers to take a proactive role in identifying and reporting insurance fraud. Not only does this minimize future instances of insurance fraud, but it also reduces unnecessary insurance costs.

Stop. Call. Confirm.

If you are unsure about the insurance company or agent you are dealing with, STOP before signing any paperwork or writing a check; CALL your state insurance department - easily reached by phone; and CONFIRM the company or agent offering insurance is legitimate and licensed in the state.

For more information about Vermont auto, home, life and health insurance options, as well as tips for choosing the coverage that is right for you and your family, visit http://www.insureuonline.org/.

Securities

All investments carry risk. Market and economic changes are a part of investing and can affect your return. But losses from fraud are not acceptable. Con artists cost Americans millions of dollars every year. The Securities Division is committed to protecting Vermont investors from investment scams and abusive sales practices. As part of our continuing investor education program, you may find these resources helpful.

Before investing, state securities regulators urge investors to call their offices and ask if the individual selling the investment is licensed to do so. Regulators say investors can also save themselves a lot of trouble by asking a second question – whether the investment itself is registered. To check out an investment or salesperson, contact the Vermont Securities Division at 802-828-3420 or william.carrigan@vermont.gov

Contact Information

Department of Financial Regulation
Commissioner Michael Pieciak
89 Main Street, Montpelier, VT 05620 - 3101
802-828-3301

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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Employee Information