UK – Insurance and finance fraud at $2.9B
Wednesday, 01 17 2018, Category: Insurance and Reinsurance, Country: United Kingdom
Fraud in the U.K. rose to 2.1 billion pounds ($2.9 billion), the most in 15 years, as the police commander in charge of fighting the crime said the amount of evidence was setting back investigations.
The value of finance and insurance fraud rose more than tripled to 900 million pounds in the past year, according to a report by accounting firm BDO, which analyzed fraud reports of 50,000 pounds and above. BDO attributed at least part of the increase to higher numbers being reported due to greater confidence in police work.
Source: Insurance Journal