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A MAN has been arrested in Bradford on suspicion of insurance fraud.
Officers from City of London Police said the 41-year-old man was arrested in the early hours of October 1.
He is alleged to have made around £140,000 worth of fake car insurance claims, according to the force.
Given the speed with which stolen assets can be transferred through the global banking system, and the increase in cyber fraud and invoice hacking incidents, time is of the essence if you are to successfully recover money stolen by a rogue employee through fraud.
https://www.pinsentmasons.com/en-gb/out-law/guides/using-the-civil-courts-to-recover-assets-after-employee-fraud
A fraudster told locals he worked for a water company so that he could gain access to their homes. Police say Mohammed Anwar specifically targeted people he perceived to be vulnerable so that he could steal from them.
On June 21 and July 3 this, the 42-year-old used the water company ploy to get into the homes of two people in Leamington and steal their bank cards. He later went on to use them to get money. But his spree came to an end when he tried the same trick on July 5.
Drivers face an unlimited fine and imprisonment for breaking a major driving law. Road users and motorists can be slapped with an unlimited fine and risk prison time for carrying out fraudulent car insurance practices, it has been warned.
The warning comes after cases have taken a significant rise in the UK, with more than 45,000 scams recorded this year alone. In 2023, insurers detected £1.1billion worth of fraudulent claims, marking a four per cent increase from the previous year.
Value and volume of detected fraudulent claims both up.
The fight against insurance fraud remains a central focus for the industry, as new figures from the Association of British Insurers (ABI) show that fraudulent claims totalling £1.1 billion were detected in 2023 – a 4% increase compared to the previous year.
https://www.insurancebusinessmag.com/uk/news/claims/abi-outlines-extent-of-insurance-fraud-507601.aspx
The UK anti-fraud agency has raided three residences and made four arrests in North West England in relation to an investigation into Signature Group.
The Serious Fraud Office (SFO) has announced it is investigating Signature Group, a business that attracted over a thousand investors in the redevelopment of landmarks including Belfast’s Scottish Mutual Building and the Coal Exchange in Cardiff.
Artificial intelligence (AI) is being used to drive insurance fraud as the number of dodgy claims is on the rise, according to a survey of claims handlers.
One in five (19%) of the claims handlers surveyed across four sectors including medical insurance believed up to a quarter of all claims submitted might be created or altered using AI.
Netflix documentary The Tinder Swindler tells the story of a fraudster who convinces women he met on a dating app to “loan” him large sums of money. It shows the devastating financial damage and psychological trauma online romance fraud can inflict on its victims. But it’s not just carried out by individuals – sometimes it’s orchestrated by organised crime groups that operate on an industrial scale.
‘Pig butchering’ fraud: the link between modern slavery, torture and online crime (yahoo.com)
Fraudster sentenced for selling invalid insurance | Insurance Business UK (insurancebusinessmag.com)
A man has been sentenced, after he sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate.
Mohamed Choudhary, 33, of Plashet Grove, Newham, was sentenced to two years imprisonment, suspended for two years, at Inner London Crown Court on 13 September 2024. He is also subject to a six month curfew, which runs daily from 9pm to 6am and is monitored by an electronic tag, and must also complete 150 hours of unpaid work and pay £1,630 in costs.
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