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Odometer Rollbacks: A Common Scam Impacting Thousands of Canadians

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CARFAX Canada and OMVIC share tips on how to protect yourself when buying a used car

LONDON, ON, May 11, 2026 /CNW/ – As one of Canada’s leading sources of automotive data, CARFAX Canada is warning used car buyers to be vigilant as odometer tampering continues to put Canadian consumers at risk.

Last year, CARFAX Canada identified 20,642 vehicles with rolled back odometers, flagged through Vehicle History Reports that were ordered in 2025. Today, CARFAX Canada and the Ontario Motor Vehicle Industry Council (OMVIC) are joining forces to warn Canadians.

Odometer tampering, also known as an odometer rollback, occurs when a vehicle’s mileage reading is illegally reduced to inflate its value. It is a serious and ongoing concern for buyers in Canada’s used car market and cannot be spotted without the help of comprehensive data and detection tools available through most licensed mechanics.

“A rolled back odometer can leave buyers paying more than a vehicle is truly worth, mask the normal wear and tear that occurs with higher mileage vehicles, and ultimately hide important information about a vehicle’s true condition,” said Shawn Vording, President of CARFAX Canada. “With many Canadians in the market for used vehicles right now, buyers can take extra precautions like reviewing a CARFAX Canada Vehicle History Report and having the vehicle inspected by a licensed mechanic to buy with more confidence.”

“Odometer tampering is a growing concern, and one we’re encountering more frequently in our investigations, particularly those involving illegal, unregistered sellers,” said Jeff Donnelly, Chief Consumer Protection Officer at the Ontario Motor Vehicle Industry Council (OMVIC). “As more consumers search for lower-priced used vehicles and look beyond the regulated market, the risk of fraud increases. With easier access to tools that can alter digital odometers, this type of deception is becoming more common. The best way to protect yourself is to buy from an OMVIC registered dealer.”

Canadians can help protect themselves when buying a used car by reviewing the pattern of odometer readings in a CARFAX Canada Vehicle History Report (VHR), along with an inspection by a licensed mechanic to help identify signs of tampering and confirm that the vehicle’s wear and tear aligns with the reported mileage.

How to Stay Ahead of Scams

CARFAX Canada and OMVIC recommend the following tips to help avoid used car scams:

Consider buying from a dealer registered with OMVIC or a consumer protection agency in your province as they must follow legal and ethical practices. Use OMVIC’s dealer search tool to confirm the seller is registered.Beware of illegal, unregistered individuals (curbsiders) who sell cars illegally and might misrepresent the real condition of the car, turn back the odometer or hide major issues.Be cautious if the transaction makes you feel uneasy: Illegal sellers and scammers often use high-pressure tactics to rush decisions.If buying privately, take extra precautions to verify the owner of the vehicle: Ensure that the seller’s identity matches the vehicle’s registration documents.If the deal seems too good to be true, do your research and trust your gut.If possible, bring a friend or family member; they may notice something you don’t.Inspect the vehicle in person, always get a licensed mechanic to inspect the vehicle, and take it for a proper test drive.Do not leave a deposit or pay in full for the vehicle using suspicious links or apps.Check all paperwork and obtain a CARFAX Canada Vehicle History Report and VIN Fraud Check. This helps verify that the vehicle’s history matches with what the seller advertises.When in doubt, walk away.

Beware of Other Common Used Car Scams in Canada

VIN Cloning or Re-Vinning

VIN cloning or re-vinning is a form of auto fraud where a vehicle’s VIN is illegally copied or “cloned” onto another vehicle to cover its identity. In many cases, cloned VINs are used to conceal and re-sell a stolen vehicle, and if you buy one, it could be seized by authorities, leaving consumers to bear the full financial burden and other potential adverse consequences.

Undisclosed History

Beyond odometer fraud and VIN cloning, buyers should also be aware of several other types of undisclosed vehicle history that can lead to serious problems:

Hidden Accidents or Damage

A vehicle’s accident or damage history does not necessarily disqualify it from purchase. The critical factor is knowing about any previous damage, so buyers can confirm it has been repaired properly. Undisclosed damage can pose significant safety risks and lead to costly repairs, reduced resale value, insurance issues, and mechanical failures.

Undisclosed Salvage and Rebuilt Branding or Title Washing:

Criminals may move salvaged vehicles across the country to hide their history and re-sell them with fake documentation or a clean title – this is known as title washing. Unknowingly buying a rebuilt or salvage vehicle may quickly turn into long-term financial, legal and insurance headaches. 

Undisclosed Liens

In the past year, CARFAX Canada found that 40% of lien checks conducted through its platform had revealed outstanding debt attached to the vehicle. While liens are common, buyers may become responsible for the debt if purchasing a vehicle with a lien without knowing. If a lien is not paid off before transferring ownership, the lender can repossess the vehicle, leaving the buyer on the hook for paying off the money owing on the vehicle.

A CARFAX Canada customer shared how a Vehicle History Report helped them avoid a costly mistake. Kenny from Alberta said: “We almost purchased a used vehicle and had even negotiated a price. We decided to give it one more check and discovered the vehicle had an odometer rollback issue. Without the report we would never have known, and it saved us a lot of headaches and money!”

CARFAX Canada searches billions of data records across North America and provides comprehensive vehicle history, market insights and vehicle valuation data to help millions of people make decisions about cars.

About CARFAX Canada
CARFAX Canada, a part of S&P Global (NYSE: SPGI), is Canada’s definitive source of automotive information, delivering vehicle history, valuation and service solutions. Drawing on billions of data records from thousands of sources, its products enable used vehicle buyers, sellers and vehicle service providers to make informed decisions. CARFAX Canada is dedicated to transparency and is trusted to provide vehicle history, valuation and service information to dealerships, vehicle manufacturers, consumers, service shops, major auctions, governments, insurance providers and police agencies.

Connect with CARFAX Canada on Instagram, Facebook and LinkedIn.

SOURCE CARFAX Canada

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ELEMENTL POWER, DS INVESTMENT PARTNERS AND SAMSUNG C&T TO ADVANCE NEW U.S. NUCLEAR DEVELOPMENT

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Proposed partnership of up to $750 million would help fund development of multiple Elementl nuclear projects

WASHINGTON, Oct. 26, 2026 /PRNewswire/ — Elementl Power, a nuclear project delivery and capital management platform, has signed a preliminary agreement to form and fund a development partnership of up to $750 million with a consortium led by South Korean investment firm DS Investment Partners (DSIP). Samsung C&T Engineering & Construction Group, which has delivered energy projects including nuclear worldwide, is participating in the consortium as a potential strategic investor. 

The consortium would fund a portion of the proposed partnership’s projected capital and hold a significant minority interest in the partnership. The agreement consists of a letter of intent and term sheet setting out the proposed terms of the partnership and allows for participation from additional strategic and financial investors.

The proposed nuclear development partnership is intended to provide a portion of the capital necessary for up to three of Elementl’s advanced nuclear projects to achieve final investment decision (FID), supporting pre-construction activities, including permitting, interconnection and long-lead item procurement. One of the three projects is Elementl’s 1.5 gigawatt project under development in Ohio, which will use GE Vernova Hitachi Nuclear Energy’s BWRX-300 small modular reactors.  

The planned partnership would advance Elementl’s full-lifecycle development strategy and demonstrate the company’s model of matching top-tier development capital with high-quality, pre-FID advanced nuclear projects. Elementl has engaged Macquarie Capital as financial advisor to evaluate bringing additional strategic and financial investors into the partnership.

“Elementl’s partnership with DS Investment Partners and its consortium would advance our full-lifecycle development strategy and represents a first-of-its-kind capital formation model for U.S. nuclear focused purely on developing multiple utility-scale projects,” said Elementl Chairman and CEO Chris Colbert. “Once finalized, this partnership would expand our early-stage project capital, increase our access to South Korea’s nuclear supply chain and engineering expertise and enhance our position as the financial and development partner best equipped to deliver new nuclear.”

“This proposed partnership would bring together financial and industrial expertise with proven experience in the nuclear sector to support the next generation of American nuclear projects,” said DS Investment Partners CEO Seung Soo Kang. “We believe new nuclear is essential to meeting rising energy demand, and we are proud to partner with Elementl and Samsung C&T in building a strong foundation to advance these power projects.”

“This collaboration represents a unique opportunity to establish a private capital model that accelerates the path to delivery for commercial U.S. nuclear projects, and we are pleased to bring our nuclear construction experience and support to this effort with Elementl and DS Investment Partners,” said Samsung C&T Senior Vice President Jung Kim.

The proposed partnership does not constitute a final investment decision on any project. The agreement remains subject to definitive documentation, regulatory approvals and other customary closing conditions.

Elementl is backed by leading energy and infrastructure investors, including Energy Impact Partners, accounts advised by T. Rowe Price Associates, Inc., Prelude Ventures, Breakwater North and Alumni Ventures.

About Elementl Power
Elementl Power is America’s Nuclear Prime, leading the delivery and capital management of new nuclear plants. Elementl’s platform combines expertise in energy finance, project execution, regulatory strategy, and nuclear operations with a technology-agnostic approach to drive the full lifecycle of plant development, from site selection and financing through licensing, construction and commercial operation. For more information, please visit elementlpower.io or follow us on LinkedIn.

About DS Investment Partners (DSIP)
DS Investment Partners (DSIP) is an investment firm focused on energy, technology, healthcare and strategic infrastructure, and is part of a Seoul-based financial group. Working alongside technology providers, industrial partners, and institutional investors across Asia, the Middle East, Europe and North America, DSIP seeks to support investments that enhance security, reliability and long-term sustainability while creating value for stakeholders.

About Samsung C&T Corporation
Samsung C&T’s Engineering & Construction Group has more than 40 years of engineering and construction experience operating throughout the world. The group spans commercial and residential buildings, civil infrastructure and plant construction. Its landmark projects include Burj Khalifa, the world’s tallest building, the Riyadh Metro Project in Saudi Arabia, the Qurayyah 4,000MW CCPP Project, and the ongoing Qatar 2,000MW Solar Power Project. In the nuclear energy sector, the company has successfully delivered 12GW across 10 units, including the 5.6GW Barakah Nuclear Power Plant in the UAE. It has recently undertaken the Nuclear Power Plant refurbishment project and Front-End Engineering Design (FEED) for Small Modular Reactors (SMRs), demonstrating its global competitiveness in large-scale reactor and SMR technologies, and solidifying its expertise across all areas of the nuclear industry.

CONTACT:

Timothy Wirth

Elementl Power Communications

(484)886-5705

tim@elementlpower.io

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SOURCE Elementl Power Inc.

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P.C. Richard & Son Continues 117-Year Tradition: Closed This Thanksgiving Day

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Family-owned retailer continues commitment to valuing employees, family, and holiday traditions.

FARMINGDALE, N.Y., Oct. 26, 2026 /PRNewswire/ — P.C. Richard & Son, America’s largest family-owned appliance, electronics and mattress retailer, proudly announces that all 63 of its Superstores across New York, New Jersey, Connecticut, and Pennsylvania will be closed on Thanksgiving Day. Every one of the company’s nearly 2,700 team members will have the day off to celebrate with loved ones.

“At P.C. Richard & Son, we believe Thanksgiving Day is a holiday meant to be spent with family and friends,” says Gregg Richard, President and CEO. “We have closed our doors on Thanksgiving for 117 years, and that decision is rooted in our values of placing family first and honoring our employees with a meaningful day of rest.”

Founded in 1909 as a small hardware store in Bensonhurst, Brooklyn, P.C. Richard & Son has remained family-owned and operated for over 117 years. Now led by fourth and fifth generations of the Richard family, the company takes great pride in maintaining its founding values of honesty, integrity, reliability, and customer-first service. On Thanksgiving Day, and every day, the company upholds the philosophy that some traditions are worth keeping.

P.C. Richard & Son is known for its convenient locations and vast selection of quality home appliances, electronics and mattresses at the guaranteed lowest prices. The extensive inventory includes TVs, computers, video games, mattresses, barbecue grills, and more. In every purchase, customers experience the company’s signature promise of service excellence before, during, and after the sale.

P.C. Richard & Son invites everyone to enjoy Thanksgiving with family and friends, and join them in-store or online as they kick off the holiday shopping season on Black Friday.

About P.C. Richard & Son

Founded in 1909, P.C. Richard & Son is the largest family-owned and operated appliance, electronics, and mattress retailer in the North East. With 117 years of experience, the company offers appliances, televisions, mattresses, smart home products, computers, audio, and more from the industry’s leading brands. P.C. Richard & Son is committed to helping customers make informed home purchases, offering seamless installation, competitive pricing, and an unwavering dedication to customer satisfaction.

For more information, visit www.PCRichard.com

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SOURCE P.C. Richard & Son

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Longbridge and SIAS sign MoU to advance investor education and financial literacy in the AI era

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Collaboration combines market insights, practical workshops and community outreach to help investors build financial knowledge and use digital tools thoughtfully

SINGAPORE, Oct. 26, 2026 /PRNewswire/ — Longbridge Securities Singapore (“Longbridge”) and the Securities Investors Association (Singapore) (“SIAS”) today signed a Memorandum of Understanding (MoU) to advance investor education and enhance financial literacy in an increasingly AI-enabled investing environment.

The MoU establishes a framework for collaboration across investor education, community engagement and practical learning. It brings together SIAS’s longstanding commitment to investor education and advocacy with Longbridge’s technology and platform capabilities, with a shared aim of helping retail investors make better-informed decisions.

As AI changes how investors access information and research markets, both organisations believe that financial knowledge and the ability to assess information critically are increasingly important. The collaboration seeks to help investors understand market developments, build practical research skills and develop greater confidence in using digital tools, while recognising their limitations.

“AI is opening up new possibilities for investors to explore information, understand markets and ask better questions. Financial education is essential to helping people make meaningful use of those possibilities. Through our collaboration with SIAS, we want to bring technology and learning closer together, giving investors opportunities to build their knowledge and practise using these tools. This MoU reflects our commitment to supporting a more informed and confident investing community in Singapore,” said Gavin Chia, Singapore and Regional CEO, Southeast Asia, Longbridge Securities.

The collaboration will bring learning into a range of settings, from market outlook sessions and hands-on workshops at Longbridge Café to community and heartland programmes. These activities aim to connect financial concepts with practical experience, making investor education relevant to people with different levels of market knowledge and digital confidence.

“Investor education must evolve as the tools available to investors change. Alongside financial fundamentals, investors need to know how to question information, assess its relevance and understand the limitations of AI-generated responses. Our collaboration with Longbridge aims to make this learning accessible and practical, reaching people with different levels of investing experience and digital confidence. We look forward to helping more investors develop the knowledge and judgment to make informed decisions,” said Ang Hao Yao, Vice President, SIAS.

About Longbridge Securities Singapore

Longbridge Securities is an AI-Powered online brokerage headquartered in Singapore. By building global trading infrastructure and a trading network, it delivers best-in-class trading experiences to investors worldwide. Founded in March 2019, Longbridge holds 22 financial regulatory licenses or qualifications across the U.S., Hong Kong SAR, Singapore, and other markets, and has secured more than US$150 million in strategic investment from leading financial institutions and investment firms. Long Bridge Securities Pte. Ltd. is a licensed entity regulated by the Monetary Authority of Singapore (MAS) (Capital Markets Services Licence No.: CMS101211), holding a Capital Markets Services Licence and operating under an exempt financial adviser status.

About SIAS

SIAS actively promotes good corporate governance and transparency practices, investor rights, investor education and is the watchdog for investors in Singapore. SIAS extensively provides a variety of investor education programmes to its members and the investing community at large through collaborative partnership with financial institutions and listed companies interested in investor education as part of their corporate social responsibility agenda.

SIAS is run by an elected Management Committee comprising professionals who are volunteers and it is a registered Charity and an Institution of Public Character.

For more information about SIAS, please visit www.sias.org.sg.

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SOURCE Longbridge

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