Frauds

A woman from London has been sentenced after attempting to defraud her insurer through a fraudulent life insurance claim worth £397,153.

CHEATING DEATH: Wife sentenced after faking husband’s death for insurance claim worth nearly £400k | City of London Police (cds.co.uk)

Organised crime gangs are increasing their attempts to defraud elderly and vulnerable people in Shropshire, with some victims handing over thousands of pounds.

https://www.shropshirelive.com/news/2021/03/12/courier-fraud-gangs-target-vulnerable-people-in-shropshire/

The Insolvency Service has warned that scammers are approaching consumers falsely claiming they can recover lost investments.

https://www.yourmoney.com/investing/investors-warned-about-approaches-to-recover-lost-funds/

The Fraud Compensation Fund could begin processing cases through to settlement within 12-18 months, a meeting of the Transparency Task Force was told this week.

https://www.ftadviser.com/pensions/2021/03/10/pension-fraud-fund-to-start-processing-cases-within-18-months/

STA, 9 March 2021 - Slovenian police have arrested three of the five people they suspect were involved in a racket known as CEO fraud, a scam in which criminals impersonate executives to fool employees into making unauthorized wire transfers. The fraud was perpetrated mostly in the UK, while the money was laundered in Slovenia.

https://www.total-slovenia-news.com/business/7912-3-of-5-suspects-arrested-in-uk-linked-ceo-fraud-case

Faster payments is the fraudsters’ preferred method of payment as the money arrives almost immediately in the payee’s account. To receive that payment therefore, the fraudster has to open a bank account. The current dysfunctionality is each bank holds the client’s information in confidence and does not share insights on risk on that account to other banks.

https://www.finextra.com/blogposting/19989/a-rude-awakening-fraudsters-are-now-fearless

Impersonation scams account for the bulk of losses that victims have been reporting during the coronavirus crisis, according to a bank’s analysis of its customer data.

https://www.essexlive.news/news/uk-world-news/bank-shares-scams-causing-customers-5096248

A Jersey entrepreneur has appeared in the Magistrates Court today (9 March) charged with conspiring to defraud a motor insurance company.

https://www.itv.com/news/channel/2021-03-09/jersey-entrepreneur-appears-in-magistrates-court-charged-with-fraud

New data from Onfido reveals a 2 times year-on-year increase in identity fraud attempts in February 2021 in tandem with the 5x year-on-year surge in Bitcoin's price.

https://www.pcr-online.biz/2021/03/09/identity-fraud-attempts-double-as-bitcoin-price-surges/

A mum-of-six who was gifted close to £3,000 by her local community to buy a specially designed helmet for her baby son has been jailed following a six year benefit fraud.

https://www.edinburghnews.scotsman.com/news/crime/east-lothian-mum-of-six-gifted-ps3k-by-community-to-buy-medical-helmet-for-baby-son-is-jailed-for-ps55k-benefits-fraud-3157331