The insurance industry is open to abuse by criminals, including money launderers and terrorist financiers. Fraud and financial crime in the insurance space has risen sharply in recent years. According to PwC’s 2018 Global Economic Crime Survey, 62 percent of respondents from the global insurance community said their firms had been exposed to fraud or financial crime within the previous 24 months, compared to 37 percent in 2016 and 35 percent in 2014.

https://www.financierworldwide.com/financial-crime-and-the-insurance-industry#.XYhhoG5FyUl