The never-ending challenge of fraudulent schemes and scams perpetrated by fraud artists and insurance cheats is a formidable obstacle confronting insurers, adjusters, investigators, and prosecutors each and every day.
Insurance fraud is systemic and can threaten the financial stability of an insurance carrier. The recent, highly publicized Russian organized crime rings operating in New York are a clear indication that our society is not immune from sophisticated international crime syndicates that ply their trade on unsuspecting insurers. Committing insurance fraud is perceived to be a low-risk, high-return business and, often, the rewards are used to finance illicit activities such drug trafficking and organized crime.
Claim investigators continue to be educated and trained in new methodologies and investigative techniques. It seems, however, that there are never enough resources or expertise to tackle the problem — and it is a global problem.
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