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A man who was part of a gang who posed as police and bank staff to defraud people of thousands of pounds has been described as "rotten to the core".
Fraudsters are taking advantage of previous fraudulent or mis-sold timeshare schemes and are advising victims that they are owed compensation. Victims are told that they need to pay a fee to obtain this money.
While these figures are encouraging, IFED is well aware that the fight against insurance fraud is an ongoing one and that fraudsters are constantly trying to come up with new ways to defraud the industry and members of the public
Four men were sentenced at Inner London Crown Court, for their part in carrying out a series of ‘crash for cash’ frauds, and then claiming against fraudulent insurance policies.
Man pretended to be Grenfell victim then racked up £40,000 bill after council put him up in exclusive London hotel
The judge described the public’s “horror” at such offending, adding: “I can hardly think of a fraud which would meet with greater revulsion.”
More than half a million insurance frauds took place in the UK last year, amounting to one scam every minute, analysis from the Association of British Insurers (ABI) reveals.
According to the trade body’s research a total of 562,000 insurance frauds were discovered by insurers in 2017, and the value of the fraudulent claims was £1.3bn.
It is estimated that card-not-present fraud will cost retailers $71 billion globally from 2017-2021.
Criminals are moving towards methods less susceptible to direct bank intervention, such as scams directly targeting the customer
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014