Insurance fraud in decline in Q2

fraud

Out of every 10,000 applications for insurance products, 10 were found to be fraudulent, compared with 12 out of 10,000 over the same period of 2011.

The figures also revealed that 86% of insurance fraud attempted in the second quarter of 2012 was committed by first party fraudsters.

Experian’s latest fraud index also showed a 3% drop year-on-year across all financial services products, with automotive finance and insurance providers seeing the biggest declines.

However the mortgage industry

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