Stamping out the identity fraud bug
Identity fraud is increasingly prevalent in insurance. Neil Joslin says that insurers must do more to establish the true identity of customers
Insurance fraud has traditionally been centred on dodgy claims involving fabrication or exaggeration by the policyholder, while banking fraud tends to centre on the misuse of a person's identity or the creation of a fake persona to obtain funds or abuse a line of credit. Now the criminal Frankensteins have combined the two to unleash a new monster: applications for insurance made using fake identification with the sole purpose of submitting a fraudulent claim.
This development forces insurers
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