Colorado Division of Insurance warns of phone scams

A scammer is calling Colorado residents promising refund checks from the “Colorado Insurance Commission” in an effort to get banking information.

The Colorado Division of Insurance sent out a warning this week to consumers saying that they should never give out personal banking information over the phone.

Here’s the setup: a caller claims to be a representative of the Colorado Insurance Commission and says the state has taken over the consumer’s insurance company.

Then the scammer 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 Colorado Division of Insurance 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.