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ML/TF updates

Insurers warn over ‘cash-for crash’ fraud as number of claims being declined for suspected fraud rises

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June 4, 2017 by 277 Views
June 4, 2017 by in ML/TF updates
An end to “crash-for-cash” claims may be on the horizon as insurers warned they were declining far more claims for suspected fraud. One major insurer detected nearly a quarter of a million pounds worth of bogus claims every day last year. Aviva said it had seen a 9.5 per cent year-on-year jump in the number of fraudulent claims it declined in 2016, fuelled by increases in fraud detection across motor bodily injury, household and liability claims.
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