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Impact of fraud reaches unprecedented UK levels

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The latest Fraudscape 2024 Report published by CIFAS* illustrates that the impact of fraud on individuals, businesses and the public sector has reached unprecedented levels.

Ongoing uncertainty surrounding the UK economy and the rise in the cost of living provide fractures that organised criminal gangs can exploit. Meanwhile, financial difficulties can sometimes lead individuals to take desperate measures, committing fraud to generate income.

Given the challenges presented by identity fraud and application fraud, how can insurers effectively prevent and detect fraud?

This content sheds light on the specific tools available to help insurers stay one step ahead of fraudsters.

Topics covered include:
• Navigating a complex landscape.
• Identity fraud on the rise.
• False applications.
• Secure digital customer onboarding.
• Identity verification and risk assessment.
• Leveraging open banking to improve credit checks.
• Delivering counter fraud intelligence to investigators in one click.

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