MIB’s sub-company the Insurance Fraud Bureau (IFB) is launching an ad campaign called ‘Stop the Scams’ to help crack down on insurance fraudsters targeting the public, with fake car insurance sales amongst top con tricks being highlighted.
At present at least one insurance scam takes place every minute in the UK at a cost of over £3 billion to the economy each year.
Amongst some of the most prevalent insurance scams is ‘Ghost Broking’. This is where fraudsters pretend to be genuine Insurance Brokers to sell unrealistically cheap and fraudulent car insurance to young people and vulnerable communities on social media.
Unfortunately, the scam is on the rise. The IFB has seen its percentage of investigations into ‘Ghost Brokers’ double in recent years. Research also shows one in three 18-24-year-olds has seen a suspicious insurance ad on social media.
As well as insurance fraud leaving people driving without insurance, it can also have a serious impact on the safety of our roads. The IFB has seen scams like ‘Crash for Cash’ – where fraudsters try to cause deliberate collisions for compensation – result in countless injuries for innocent road users.
To help protect the public, the IFB will be issuing animated scam across online platforms to encourage the public to report evidence of insurance fraud to their Cheatline.
To engage in the campaign on social media, be sure to check out the IFB’s Twitter and LinkedIn, and MIB’s Facebook.