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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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Rocket Money’s Rowan Rewrites What AI Can Do in Personal Finance

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Rocket Money’s new AI financial assistant, developed with Anthropic, takes money management out of apps and dashboards and puts it into conversational texts

DETROIT, Aug. 25, 2026 /PRNewswire/ — Rocket Money, part of Rocket Companies (NYSE: RKT), today launched Rowan, an AI agent that goes beyond analysis, monitoring consumer’s finances and even acting on their behalf, all through simple text messaging.

Rocket Money’s AI financial assistant puts management into conversational texts.

Powered by Anthropic, Rowan watches spending around the clock. When it spots a way to save, it sends a text. The consumer replies in plain language and Rowan handles the rest. It can renegotiate recurring bills, cancel subscriptions and even create automated savings transfers.  

Most personal finance apps are passive, showing a dashboard that leaves the real work up to the consumer. Rowan does the work for them.

“What we’ve built with Rowan wasn’t possible even 12 months ago,” said Aaron Dignan, VP of Agentic Products at Rocket Money. “It finds the money slipping through the cracks, the forgotten subscriptions, the bills that creep up, and it actually does something about them. That’s the difference between knowing and acting.”

Rowan is built on a sophisticated stack of AI agents trained with Rocket Money data. The result is something unprecedented: a system that monitors your finances, applies advanced reasoning, and proactively engages to give you knowledge and control over your personal finances. Rowan identifies opportunities and executes complex tasks in the real world based on your instructions.

Consider a client that signs up for a free month of streaming that then goes unused.  Rowan doesn’t forget, three weeks later it will send a text asking the consumer if they are enjoying the service or if they would like to cancel before incurring a charge.  If the member replies “cancel” Rowan contacts the service, cancels the trial and confirms when it is done. One word, no logging in, no lengthy conversations and no hold music.

Maybe someone wants to save money while still enjoying their morning coffee. They simply text Rowan: “Every time I buy a coffee, round up to the nearest dollar and put the extra change in my high-yield savings account.” Rowan sets up the process. From that moment forward, every coffee purchase triggers an automatic rounding and transfer.

That is a monumental leap from passive to proactive financial management, going from “here’s what you spent” to “here’s how I can help.”

The system is also constantly improving. When Rowan encounters something unexpected, such as a subscription service with an unusual cancellation flow, it learns. It diagnoses the issue, finds a solution and deploys it across the entire system. Each edge case solved becomes a permanent improvement for every consumer.

“This architecture moves us from ‘this is cool’ to ‘this is incredibly powerful and can help me maximize my money,” said Chase Adams, VP of AI Engineering at Rocket Money. “We built it with adaptable agents where you need flexibility and strict code where you need certainty, and our team is engaged throughout to provide human verification.”

Rowan is available to select Rocket Money subscribers now as part of a new Premium Plus tier, with broader availability coming later this year.

ABOUT ROCKET MONEY

Rocket Money is a personal finance app designed to help people manage their money, track spending, monitor subscriptions, build savings, and improve their overall financial health. Originally founded as Truebill and acquired by Rocket Companies in 2021, Rocket Money helps users understand where their money is going, identify opportunities to save, manage recurring expenses, track net worth and credit, and take action through features such as subscription management, budgeting, bill negotiation, automated savings, and Rowan, its AI-powered financial agent. Rocket Money is part of Rocket Companies (NYSE: RKT), a Detroit-based fintech platform company.

For more information, please visit www.rocketmoney.com.

ABOUT ROCKET COMPANIES

Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Rocket Close, Rocket Money and Rocket Loans. With insights from more than 160 million calls with clients each year, 30 petabytes of data and a mission to Help Everyone Home, Rocket Companies is well positioned to be the destination for AI-fueled homeownership. Known for providing exceptional client experiences, J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for primary mortgage origination and mortgage servicing a total of 23 times, the most of any mortgage lender.

For more information, please visit www.rocket.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rocket-moneys-rowan-rewrites-what-ai-can-do-in-personal-finance-302859522.html

SOURCE Rocket Money

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Veridian Credit Union launches Money Moves to help members build financial confidence, achieve goals

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WATERLOO, Iowa, Aug. 25, 2026 /PRNewswire/ — Veridian Credit Union has launched Money Moves, a new financial empowerment program designed to help members build confidence, strengthen financial habits and take meaningful steps toward their financial goals.

The program combines financial education, personalized coaching and financial incentives to help participants increase savings, improve credit and reduce debt. Through one-on-one guidance and practical tools, Monday Moves helps participants create a personalized plan that works for their unique circumstances and long-term goals.

“Financial success should be within reach for everyone,” said Ana Hernandez Eveland, Veridian’s Financial Empowerment Strategist. “Money Moves is about meeting people where they are and giving them the guidance, resources and encouragement they need to move forward with confidence. Whether someone is focused on building savings, improving credit or paying down debt, we’re here to help them take the next step.”

Participants who successfully complete the program may qualify for a $250 matching incentive that can be used toward a secured credit card, starter certificate of deposit or debt repayment, helping reinforce the financial progress they make during the program.

Money Moves is free to attend, though advance registration is required. Individual sessions begin mid-September in Cedar Rapids, Waterloo and Omaha, and Oct. 1 in Des Moines. Details are available at veridiancu.org/moneymoves.

Founded in 1934, Veridian Credit Union is a member-owned financial cooperative dedicated to improving the financial well-being of its members. With 32 branches across Iowa, eastern Nebraska and the Twin Cities metro area, Veridian provides a full range of personal and business financial services desigened to help members build confidence and reach their goals. As a not-for-profit credit union, Veridian returns value to its members through competitive products, trusted guidance and a commitment to helping people ahcieve lasting financial success.

View original content to download multimedia:https://www.prnewswire.com/news-releases/veridian-credit-union-launches-money-moves-to-help-members-build-financial-confidence-achieve-goals-302859521.html

SOURCE Veridian Credit Union

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Cresset Expands to Boca Raton, Welcomes $4 Billion Advisory Team

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Led by Michael Bober and Ed Ventrice, the team previously managed approximately $4 billion in client assets at UBS and has deep connections to the Boca Raton community

BOCA RATON, Fla., Aug. 25, 2026 /PRNewswire/ — Cresset announced today that it is expanding to Boca Raton, Fla., with the addition of a 16-person advisory team led Michael Bober, and Ed Ventrice. The team previously managed approximately $4 billion in client assets for UBS. The team also includes Michael MacDonald, William “Billy” Marino, Sarah Ponczek, and Alex Santos.

Bober and Ventrice each bring more than three decades of experience advising corporate executives, business owners, high-net-worth individuals, multigenerational families, foundations and endowments, and professional athletes. Together with their team, they specialize in comprehensive wealth management, institutional consulting, business succession planning, and addressing the complex needs of families with significant wealth.

Prior to joining Cresset, Bober and Ventrice both served as Managing Directors with UBS Financial Services. Before transitioning to wealth management, each worked as a Certified Public Accountant with a national accounting firm. Their accounting backgrounds have helped shape the team’s integrated approach to wealth management and its focus on delivering coordinated advice across every aspect of a client’s financial life.

“We are excited to join Cresset and gain access to the breadth of resources and capabilities available through its independent, client- and employee-owned model. Cresset’s family office approach closely aligns with how we have always believed wealth should be managed—with a comprehensive, long-term perspective that extends well beyond investment management,” Ventrice said.

Cresset offers a comprehensive suite of family office services designed to address the interconnected needs of individuals and families with significant wealth. Its capabilities span investment management, private markets, tax preparation and planning, estate and trust services, business succession planning, property and casualty insurance advisory, and philanthropic planning for families, foundations, and endowments. Cresset also provides access to medical and travel concierge services through its expansive network, helping clients coordinate support across their financial and personal lives.

“Joining Cresset represents an exciting next chapter for our team and our clients. Cresset has built an exceptional platform around an integrated approach to wealth management, and we look forward to offering our clients those capabilities while continuing to provide the highly personal advice and service they expect,” Bober said.

“We are also proud to continue serving the Boca Raton community we know so well and to build upon the relationships we have developed here over many years,” Ventrice added.

Cresset’s open-architecture, multi-custodial model provides clients with access to leading custodians. This flexibility, combined with Cresset’s extensive wealth management and family office capabilities, allows advisory teams to deliver highly customized solutions based on each client’s specific needs.

“We are thrilled to expand our presence in South Florida to Boca Raton. Michael, Ed, and team have deep and longstanding relationships throughout the Boca Raton community, and we are honored to welcome them to Cresset and look forward to introducing more successful families to Cresset’s comprehensive family office offerings,” said Cresset CEO Susie Cranston

About Cresset
Cresset is a firm built by clients, for clients. As an independent, award-winning* multi-family office and private investment firm, we are reimagining the way wealth is experienced. Our purpose is to help ensure that both wealth and life are fully optimized**—integrated, intentional, and aligned with each client’s vision of success.

We provide access to the caliber of talent, ideas, and investment opportunities typically available to the largest single-family offices and institutions. Our approach is personalized, entrepreneurial, and client-first.

Proudly owned by our clients and employees, Cresset was built to endure. We are creating a 100+ year firm—one focused on delivering an exceptional experience, not only for the families we serve but for the team that serves them. Recognized by Barron’s and Forbes among the nation’s top multi-family offices,* Cresset is guided by long-term relationships, shared success, and a belief that wealth should serve a life well lived.

*Disclosures related to awards, recognitions, and rankings available here. Forbes Top RIA Firms (issued 10.2025). Based on data from April of the prior year through March of the award year. Rankings are determined by SHOOK Research using a proprietary methodology that considers qualitative and quantitative factors. Barron’s Top 100 RIA Firms (issued 09.2025). Based on data from July of the prior year through June of the award year. Rankings are determined using a proprietary methodology that considers qualitative and quantitative factors. Cresset paid a licensing fee to use the Forbes and Barron’s award logos.

**Wealth Optimized, Life Elevated refers to the firm’s philosophy and process in providing advisory and planning services and is not intended to convey a guarantee of results. 

Cresset refers to Cresset Capital Management, LLC and its respective direct and indirect subsidiaries and controlled affiliates. For a full list of Cresset subsidiaries and controlled affiliates, please see cressetcapital.com/disclosures/

View original content to download multimedia:https://www.prnewswire.com/news-releases/cresset-expands-to-boca-raton-welcomes-4-billion-advisory-team-302859530.html

SOURCE Cresset

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