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Organized crime targeting insurance industry: FRISS

May 29, 2014 - 6:00am

Organized crime is now targeting the insurance sector, Jeroen Morrenhof, chief executive of FRISS, a fraud and compliance consulting firm, said.

Mr. Morrenhof said "where fraud networks used to be limited to a single country, they are now expanding their activities to multiple countries," Xprimm reported. Pictures are digitally manipulated when a claim is submitted and damage is exaggerated. Several policies under fake identities are being applied for by using the same device, for instance a tablet or laptop, reports Xprimm.

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