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UK businesses are lagging their European counterparts when it comes to intelligence sharing, suggests GBG’s Global Fraud Report.
UK lags Europe in collaborating on identity fraud | THINK Digital Partners : THINK Digital Partners
UK motor insurer Ageas has identified a concerning new trend in “crash for cash” scams: a scheme involving moped riders who intentionally position themselves to be hit by reversing vans in an attempt to be compensated by insurance.
‘Crash for cash’ scam gets new twist | Insurance Business UK (insurancebusinessmag.com)
https://www.msn.com/en-gb/money/other/benefits-fraud-costs-taxpayer-record-7-3bn-as-society-becomes-more-criminal/ar-BB1qqwHa
The number of holiday scams has tripled in the first half of 2024, and a lender has warned families to stay alert when booking a trip to sunnier climes.
The warning comes as July has proven to be a particularly fruitful time of year for fraudsters, as £34,000 was taken from Santander customers in that month in 2023.
Identity fraud has no respect for international or industry borders. It’s a constantly evolving, global issue impacting businesses across every industry and in every country around the world. More recently, the potentially devastating results of identity fraud have been highlighted by the increasingly sophisticated way fraudsters are operating. The power of AI and machine learning is now harnessed by criminals to launch widespread, complex attacks which means, despite the best efforts of those dedicated to fighting identity fraud, detection and prevention is more challenging than ever.
https://www.finextra.com/blogposting/26436/collaboration-the-secret-sauce-to-fighting-identity-fraud
Christopher Harkins, 37, loaned money from women he targeted on dating websites.
A “manipulative and violent” rapist who defrauded women out of more than £210,000 through romance scams has been jailed for 12 years.
Christopher Harkins, 37, targeted single women on dating websites and worked to gain their trust, portraying himself himself as a successful businessman.
Supplier invoice fraud is continuing to present a significant threat to businesses in the UK. UK Finance has reported that invoice fraud losses hit £50.3m in 2023 which represents an increase of 2% on the previous year.
Invoice fraud tends to arise in circumstances where either (i) a fraudster sets up an email address that is very similar to the actual supplier’s email address or (ii) the supplier’s genuine email address is hacked. In both circumstances, the fraudster will tend to change the payment details in the invoice so that the payment is sent to the fraudster’s bank account.
https://www.stephens-scown.co.uk/business-disputes/supplier-invoice-fraud-who-ends-up-paying-the-bill/
Police in Glasgow are investigating cases of suspected voter fraud.
Glasgow City Council reported four cases of alleged “personation” following Thursday’s poll.
The offence occurs when a person votes as someone else.
Authorised push payment (APP) fraud is the biggest threat to customers and businesses over the next 12 months, an industry survey finds.
Two-thirds of the UK’s payments industry, made up of banking providers, crypto services, and technology companies, think the scam is the most pressing type of fraud issue.
A phantom passenger claim in its simplest form is an injury claim from a person that was not present in a vehicle involved in a crash. It is certainly one of the more brazen ways to pursue a fraudulent injury claim by attempting to circumvent any fraud detection process and acquire a quick compensation pay out.
Identifying claims for further investigation can be as straightforward as noticing that there are more claimants than seats in a vehicle, the at-fault driver disputing the presence of a passenger, or there are photographs / video footage showing vehicle occupancy.
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