Insurance application fraud jumps by 23%
Research by Experian has revealed that the detected rate of insurance application fraud in the UK increased by 23% last year to 11 in every 10,000 applications.
The rate has risen considerably since 2006 when there were only 1.85 detected frauds per 10,000 applications.
According to the information services company, the rate of fraudulent mortgage applications also increased last year with 34 in every 10,000 applications found to be fraudulent compared to just 15 in every 10,000 in 2006.
The overall rate of fraud at point of application across the UK's financial services sector increased by 4% in 2011, to just over 17 in every 10,000 applications
Nick
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