Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Georgia Agency Owners Charged With Insurance Fraud
Jun 25 2014 // Georgia Insurance Commissioner Ralph Hudgens announced Tuesday that warrants have been issued for the arrest of a Gwinnett County insurance agent and her husband on multiple counts of insurance fraud. Officials said...
U.S. Ambassador Presses China Over Cyber Theft, Investment Treaty
Jun 25 2014 // Cyber theft of trade secrets by China is a threat to U.S. national security, U.S. Ambassador to China Max Baucus said on Wednesday in the first major public address of his tenure, warning that Washington would continue to...
Traders Wary of Metal Financing Risk in China’s Unregulated Warehouses
Jun 24 2014 // Shaken by a fraud investigation into metal financing in the world’s seventh-busiest port, banks and trading houses have been made painfully aware of the risks they face storing commodities in China’s sprawling...
Texas Man Sentenced, Another Pleads Guilty in Machinery Theft Scheme
Jun 20 2014 // United States Attorney Stephanie A. Finley in Louisiana announced that one Texas man has been sentenced and another has pleaded guilty in a scheme to steal tractors and other large equipment and sell the items in...
ABI Lauds Arrest of 11 Persons for Travel Insurance Fraud
Jun 20 2014 // A bulletin on the website of the Association of British Insurers (ABI) notes that a “nationwide operation into suspected fraudulent travel insurance claims led by the City of London Police’s Insurance Fraud...
Maine Saw Largest Crime Rate Decrease in 20 Years in 2013
Jun 19 2014 // Crime in Maine dropped 9.1 percent last year, a steep drop from the previous year and the biggest decline in 20 years, Maine Department of Public Safety Commissioner John Morris said Tuesday. The commissioner, joined by...
Former Ohio Insurance Agent Gets Jail Time on Fraud-Related Charges
Jun 17 2014 // Former West Mansfield insurance agent Robert Horney, of Marysville, Ohio, was sentenced in Logan County Common Pleas Court to serve 60 days in jail, five years on community control and ordered to pay more than $21,000 in...
Missouri Man Pleads Guilty to Arson, Insurance Fraud
Jun 16 2014 // A western Missouri man has admitted leading a conspiracy to buy cheap houses and set them on fire to collect nearly $435,000 in insurance benefits. The U.S. Attorney’s office says 27-year-old Joshua Stamps, of...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 16 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs), which investigated cases between January 2012 and...
Indiana Police Using Water-Based Chemical to Fight Theft
Jun 13 2014 // A northwestern Indiana police department is one of the first law enforcement agencies in the country to distribute a theft-deterring chemical that leaves DNA-like “signatures” on property and those who attempt...
In Search of the Best Defense Against Corporate Cyber Crime
Jun 11 2014 // With hackers stealing tens of millions of customer details in recent months, firms across the globe are ratcheting up IT security and nervously wondering which of them is next. The reality, cyber security experts say, is...
Texas Doctor Convicted Again on Workers’ Comp Fraud Charges
Jun 10 2014 // Texas Mutual Insurance Co. reported that a Travis County jury convicted Howard T. Douglas III, M.D. of Frisco, Texas, on felony workers’ compensation fraud-related charges for overbilling Texas Mutual for functional...
Texas Moves Forward in Becoming an NCCI State
Jun 10 2014 // In late March 2014, Texas Insurance Commissioner Julia Rathegeber approved a staff petition to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, and the national and...
ABI Lauds Government Measures to Stop Fraudulent Claims
Jun 10 2014 // The Association of British Insurers has commented on the measures introduced by Justice Secretary Chris Grayling, announcing “a major crackdown on insurance fraudsters and dishonest claims as part of new measures to...
Cyber Theft, Already a $445 Billion Business, to Grow Bigger
Jun 9 2014 // Cybercrime remains a growth industry. That’s the main message from former U.S. intelligence officials, who in a report today outlined scenarios for how $445 billion a year in trade theft due to computer hackers will...
N.J. Roofing Company Exec Gets Jail Time for Misleading Workers’ Comp Carrier
Jun 6 2014 // New Jersey authorities said the president of a New Jersey roofing company was sentenced to jail Friday for providing false and misleading information to the company’s workers’ compensation insurance carrier to...
Tennessee Targets Workers’ Comp Fraud in Construction Industry
Jun 6 2014 // The Tennessee Department of Labor has been expanding efforts to uncover employer fraud within the construction industry. The efforts, aided by recent legislation, will help identify employers who are paying workers under...
Kia’s Dancing Hamster Nabbed in California on Insurance Fraud
Jun 5 2014 // Leroy Barnes, 27, of Los Angeles, known as one of the dancing hamsters in Kia car commercials, was arrested on insurance fraud charges related to his alleged fraudulent collection of state disability insurance...
Maine Man Sentenced to 1 Year in Jail, $50K Restitution for Comp Fraud
Jun 5 2014 // A Maine man was sentenced this week in Aroostook County Superior Court to serve 42 months in jail, with all but one year suspended for workers’ compensation fraud. Workers’ comp insurer MEMIC — whose...
Willis Exec Warns of Rise in ‘White Collar Crime’ in UK
Jun 4 2014 // Francis Kean, executive director in Willis’s financial and executive risks practice has examined a growing trend in white-collar crime in a WillisWire blog. He indicated that” according to a report in The Times...
