Analysis

Cost of living crisis drives greater fraud volume and frequency from non-traditional sources

By 2022-09-07T12:43:00

fraud dictionary

Counter fraud experts explained that difficult economic conditions are leading to increased levels of fraud from non-traditional perpetrators, necessitating a rethink of existing anti-fraud models

More businesses and individuals could be tempted into defrauding their insurers for extra money as the cost of living crisis continues to tighten purse strings across the country.

A collection of counter fraud experts at yesterday’s Fraud Charter roundtable (6 September 2022) – hosted by Insurance Times and sponsored by Carpenters Group – confirmed that they were already beginning to see the impact of the cost of living crisis on the frequency and type of fraudulent insurance claims.

Explore more fraud-related content here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.