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Phony Contacts: Scammers impersonate legitimate insurance companies or agents through phone calls, emails or mail to convince individuals to purchase fake policies. Victims may pay premiums for ...
According to our recent “Keep Your Money Safe” survey, when victims of financial scams were asked what type of scam they had experienced, 27% said they had been the victim of phone scams ...
The internet has made it easier than ever to shop for and buy life insurance, but this added convenience requires a bit of caution. Criminals are out there committing life insurance fraud, and if
Insurance fraud refers to any intentional act committed to deceive or mislead an insurance company during the application or claims process, or the wrongful denial of a legitimate claim by an insurance company. It occurs when a claimant knowingly attempts to obtain a benefit or advantage they are not entitled to receive, or when an insurer ...
A variation of this scam occurs in countries where insurance premiums are generally tied to a bonus–malus rating: the con artist will offer to avoid an insurance claim, settling instead for a cash compensation. Thus, the con artist is able to evade a professional damage assessment, and get an untraceable payment in exchange for sparing the ...
It operated as a ponzi scheme, using new investors money to pay premiums on older life insurance policies, pay a return to earlier investors, and provide lavish salaries and benefits for the company's owners. Mutual Benefits Corp. was shut down by the SEC in 2004. [2] [3]
Fake news websites are those which intentionally, but not necessarily solely, publish hoaxes and disinformation for purposes other than news satire.Some of these sites use homograph spoofing attacks, typosquatting and other deceptive strategies similar to those used in phishing attacks to resemble genuine news outlets.
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.