Association of British Insurers - News Releases

Association of British Insurers - News Releases: "The Insurance Fraud Bureau set to expose organised insurance frauds

The new Insurance Fraud Bureau launched today (26 July) will clamp down on organised insurance frauds, that now earn criminal gangs up to �4 million a week.

The Bureau will look for evidence of organised fraud on industry databases, develop cross-industry intelligence and co-ordinate investigations between insurers, the police and other agencies. It will also run a confidential Cheatline where people can report suspected insurance frauds.

Stephen Sklaroff, Deputy Director General of the Association of British Insurers, said:

�Insurers already stop a lot of fraud. Last year we detected fraudulent claims worth more than �400 million. But the growth in organised fraud requires a new approach. The launch of the Insurance Fraud Bureau shows the industry�s determination to expose the organised criminal gangs who often use insurance payouts to fund other crimes, and put lives in danger.�

John Beadle, Chairman of the Insurance Fraud Bureau, said:

�Today�s launch follows a highly successful six month pilot where the IFB worked with insurers in identifying fraudulent networks, sharing intelligence and supporting a co-ordinated response to investigations. The Bureau is building powerful relationships with the police and law enforcement agencies. We are confident that the IFB will play an important part in protecting the honest policyholder. We will find, expose and pursue those involved in organised insurance fraud.� "