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Fraud rings or groups may fake traffic deaths or stage collisions to make false insurance or exaggerated claims and collect insurance money. [19] The fraud may involve the engineering of a deliberate collision with the innocent driver of another vehicle. [20] Some fraud rings involve insurance claims adjusters who authorize payment on the ...
Staged accident claims may result in claims ranging from $2,000-$10,000, but some fraud rings may work collectively to receive even more, resulting in hundreds of thousands of dollars in total ...
Video aired on Good Morning America showing members of an insurance fraud ring setting up motorists -- mainly women -- for collisions is a demonstration of the depths they are willing.
The defendants are linked to an insurance “fraud ring investigation” around Conway, U-Haul alleges, with Colebrooke involved in seven loss claims, Lawrence involved in 20 claims, Johnson in ...
A staged crash, or crash for cash is when criminals maneuver unsuspecting motorists into crashes in order to make false insurance claims. The cars generally suffer little damage in relation to the large demand that is then fraudulently submitted. According to the Coalition Against Insurance Fraud, staged car crashes are a growing criminal problem.
Insurance fraud includes a wide variety of schemes in which insureds attempt to defraud their own insurance carriers, but when the victim is a private individual, the con artist tricks the mark into damaging, for example, the con artist's car, or injuring the con artist, in a manner that the con artist can later exaggerate.
Motor insurance policy fraud cases jump as households squeezed by living costs. Vicky Shaw, PA Personal Finance Correspondent. November 30, 2022 at 6:56 AM.
About Category:Insurance fraud and related categories: This category's scope contains articles about Fraud, which may be a contentious label. Subcategories.