‘Fraudsters’ Gaining On Insurance Industry, Expert Says

 Monday, October 29, 2018

 InsuranceNewsNet

The fraudsters are seemingly remaining one step ahead of the good guys, and the financial services industry is perpetually a prime target. In an effort to forge a coordinated strategy against fraud networks, LIMRA is hosting its first Fraud Symposium today at its annual conference. Paul Henry, client relationship director for LIMRA/LOMA, will present new data on fraud prevention. For example, fraud costs to consumers from account takeover is estimated at $5 billion. “One of the things that we’ve learned is the fraud in the insurance space and in the retirement space is either not reported or it’s underreported," Henry explained.
Special InvestigationsTechnology
BROWSE RELATED NEWS ARTICLES