Insurance fraud continually takes more money each year than it did the year before from the insurance buying public. There is no certain number because most attempts at insurance fraud succeed.
Experts estimate insurance fraud in the United States takes from the industry amounts ranging from a low of $87 billion to more than $300 billion every year. Lack of sufficient investigation and prosecution of insurance criminals is endemic. Most insurance fraud criminals are not detected until they become greedy and the fraud becomes so obvious it cannot be ignored.
Certified Fraud Examiners (CFEs) can reduce the extent of insurance fraud because they are the best trained and most knowledgeable about fraud of all kinds and should recognize insurance as a major market for the services of a CFE.
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