David Neave and the Insurance Fraud Bureau have recently released a report which details the popularity of the growing “cash for cash” problem in the UK.
London, UK -- (SBWIRE) -- 10/23/2013 -- David Neave and the Insurance Fraud Bureau have recently released a report which details the popularity of the growing “cash for cash” problem in the UK. The Insurance Fraud Bureau was set-up in 2006 to clamp down on insurance fraud with the aim aim of targeting criminal gangs and organised insurance fraud. At any one time they have 20-30 criminal gangs under investigation.
The report reveals that Crash for Scam scheme has nets organised criminal gangs 392 million pounds per year. Unveiling the lengths fraudsters go to scam the system, the ‘Crash for Cash’ report unravels the make-up and psychology of criminal gangs targeting the insurance industry, considers the geographical spread of scams currently under investigation across the UK.
The report demonstrates that UK motorists and honest policyholders are the ultimate victims of ‘Crash for Cash’.
David Neave had this to say about the report “Let me dispel that myth. Insurance fraud costs us all. As honest policyholders we pick up a collective bill for fraud through increased premiums. Are you happy giving fraudsters £50 of your money each and every year? But in ‘Crash for Cash’, insurance fraud poses even starker risks to society. Innocent motorists are being targeted on roads by fraudsters motivated by greed by deliberately causing accidents, fraudsters are gambling with the lives of innocent people.”
Crash for cash revealed: As previously mentioned crash for cash is worth hundreds of millions to organised crime gangs. As much as 1 in 7 personal injury claims are linked to crash for cash which is an astonishing 69,500 incidents per year. The average scheme investigated has netted the criminals involved £1.7 million and perhaps more shocking is that 1 in 10 motorists would consider taking part in one of these schemes.
Crash for cash in simple terms is to deliberately cause a road traffic collision solely for the purposes of financial gain. In most collisions where a vehicle is shunted from behind, the driver of the car behind is deemed ‘at fault’. The key element of a ‘Crash for Cash’ scam is therefore causing an accident for which the other driver can be blamed.
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