Cybersecurity Ventures estimates cybercrime will take a $10.5 trillion toll on the global economy by 2025. If it were measured as a country, the underground cybercriminal economy would be the third largest in the world after the U.S. and China.

The courtroom was impassioned, to say the least, and downright angry at what they were hearing. In our post-COVID-19 reality, the claimant in a workers' compensation case was presenting lengthy testimony by video. The judge sat calmly as the claimant spoke about a seemingly horrific injury.

Detectives with the Plano Police Department said suspected thieves stole more than $2.5 million worth of trucks and SUVs from around North Texas. Details about the alleged crimes, which reads like a crime series on a streaming platform, were detailed in an arrest probable cause affidavit.

Despite the industry's stodgy reputation, insurance is often ahead of the curve, embracing new technologies that improve efficiency, enhance customer experience and increase profitability.

Lawyers for the family of Alex Murdaugh's late housekeeper Gloria Satterfield -- who died after a fall at the family's home in 2018 -- have responded to Murdaugh's motion to vacate his confession of stealing over $4 million in insurance money meant for Satterfield's family.

According to court documents, on September 23, 2020, Denis Vladmirovich Molla falsely reported to the Brooklyn Center Police Department that his camper had been intentionally set on fire. He claimed that he witnessed three unidentified individuals near his residence at the time of the incident, accompanied by an explosion.

Florida's Chief Financial Officer made an announcement regarding the arrest of Kiyuana Pasley, a former claim adjuster for Progressive Insurance. Pasley faces serious charges including one count of Organized Fraud, 11 counts of Insurance Fraud, and 11 counts of Grand Theft.

Houston law firm McClenny Moseley and Associates has been accused of a litany of questionable, and potentially illegal, practices in recent months. Now, a group of former employees of an estimating company say their former employers likely conspired with the firm to hike up the value of Hurricane Ida claims by exaggerating damages.

For its third annual Contractor Fraud Awareness Week, the National Insurance Crime Bureau (NICB) has chosen to highlight the issue of post-disaster contractor fraud. According to NICB, approximately 10% of the $92 billion catastrophe losses suffered by insurers in 2021 went towards post-disaster fraud.

In a significant development, Wells Fargo has reached a settlement agreement to pay $1 billion to resolve a class action lawsuit accusing the bank of misleading investors about its progress in rectifying its practices following the notorious fake accounts scandal. If approved by the court, this settlement would rank among the largest recoveries ever obtained from a securities class action lawsuit, according to attorneys representing the plaintiffs.

Researchers at a leading cryptocurrency tracing company have bad news for Washington: Ransomware is back, and it might be worse than ever.

To bolster innovation, insurers are turning to a technology that, in its short lifetime, has already created massive changes in business and the world. Generative AI, a type of artificial intelligence that can create content, rather than simply analyzing existing data, has been at the core of experiments in trying to optimize insurer processes, predict risk and develop customized policies for individual customers.

A woman from Coral Gables found herself caught in an insurance scam after an alert witness helped authorities unravel her deceitful plot. Silvia Maria Almeida, along with her passenger, Milton Yunielki Acosta, attempted to deceive the police by falsely reporting a collision between her black Mercedes-Benz and a pickup truck in Hialeah Gardens. However, their inconsistencies and a witness's intervention exposed their fraudulent scheme.

Consumers who used Intuit's TurboTax software between 2016 and 2018 could be eligible for up to $85 as part of a 50-state settlement over the company's tactics that allegedly tricked users into paying for tax services that should have been free.

Louisiana's Insurance Commissioner has imposed a fine of $2 million on Texas law firm McLenny Moseley & Associates (MMA) and its associated partners for hurricane-related insurance fraud.