Spotlight on fraud: Tackling fraud in the digital age

Fraud remains as prevalent within our society today as ever, with fraudsters looking to keep one step ahead in the areas they already operate, while always seeking new targets. And, as an already established target, the insurance industry needs to be alive to new ways of preventing fraud, which can cost millions of pounds each year. Many of the newer challenges stem from the explosion in mobile technology, which provides faster and easier ways of committing fraud.

This article studies how fraud is evolving and how insurers can enhance fraud strategies by learning from industries already equipped to tackle the risks, such as the online gaming industry.