Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Dryad Maritime Warns of Increases in Southeast Asia Cargo Thefts
Jun 4 2014 // The latest report of a tanker hijack in Southeast Asia has prompted Dryad Maritime to issue an advisory to its shipping clients, based on the supposition that “crime follows a pattern, which has seen up to six such...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 3 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) who investigated cases between January 2012 and December...
3 More Sentenced in $1M West Virginia Arson, Insurance Fraud
Jun 2 2014 // Three more defendants in a $1 million arson insurance scheme in Logan, West Virginia, have been sentenced to prison. U.S. Attorney Booth Goodwin said the three were sentenced to a total of 25 years in prison for their...
Safety Is Paramount for Texas Mutual CEO Gergasko
Jun 2 2014 // Richard Gergasko, CEO of workers’ compensation insurer, Texas Mutual Insurance Co., describes himself as an insurance geek. Trained as an actuary, he’s been involved in the insurance business for 30 years. With...
Arrests in California Fraud Ring Targeting Auto Dealers and Insurers
Jun 2 2014 // A four-year investigation into an organized fraud ring has uncovered a million-dollar scheme targeting high-end vehicles through auto loan and insurance fraud has led to several arrests, the California Department of...
20 Years Later, Stolen 1966 Red Mustang Returned to Owner
Jun 2 2014 // Betsy Montgomery, drove the same car on her 55th birthday that she drove as a 15-year-old living in south Jackson, Mississippi – a 1966 red Mustang that her dad bought from the original owner in 1973. How she got the...
41 Charged for Multi-Million Dollar Auto Insurance Fraud Scheme in Philadelphia
May 30 2014 // The Philadelphia district attorney’s office has charged 41 people for what prosecutors described as a multi-million dollar auto insurance fraud scheme. Prosecutors allege Ronald Galati Sr. and his co-conspirators ran...
ABI Calls for Action as Fraudulent Accident Claims Rise by 18%
May 30 2014 // The Association of British Insurers latest study concludes that “the value of fraudulent insurance claims uncovered by insurers rose to a record £1.3 billion [$2.177 billion] in 2013, up 18 percent on the previous...
Argo Pro Adds Commercial Crime Insurance to Management Liability Portfolio
May 29 2014 // Argo Pro, a member of Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, has expanded its line of management liability insurance products with a new...
North Carolina Start-Up’s Software Tracks Fraud in Packaging, Documents
May 29 2014 // By snapping a picture with his mobile phone, Hersh Tapadia demonstrated how an app developed by the Durham-based anti-counterfeiting technology company CertiRx Corp. could find fraudulent changes on a prescription drug...
Arrests in California Fraud Ring Targeting Auto Dealers and Insurers
May 23 2014 // A four-year investigation into an organized fraud ring has uncovered a million-dollar scheme targeting high-end vehicles through auto loan and insurance fraud has led to several arrests, according to the California...
Missouri Legislature OKs Criminal Checks for Health Advisers
May 23 2014 // Despite a federal court order against their current law, Missouri legislators voted to toughen requirements even further for people seeking to work as insurance guides under President Barack Obama’s health care...
People
May 19 2014 // FrankCrum, a national professional employer organization, added Rodney Vaughn as broker manager, responsible for increasing the company’s presence in Texas, and forging relationships with insurance agents and...
N.J. Authorities Warn Residents About Sandy Recovery Program Scams
May 13 2014 // New Jersey authorities are warning local residents about potential Superstorm Sandy recovery program scams. Officials are advising Sandy recovery program participants to be cautious when contacted by home visit, email, or...
Criminal Charges Filed in Quebec Railway Crash
May 13 2014 // Montreal, Maine & Atlantic Railway Ltd. and three of its employees have been charged with criminal negligence in connection with the derailment and explosion of a train in Lac-Megantic last year, Quebec’s...
Oklahoma Insurance Agent Pleads Guilty in $300K Fraud Case
May 12 2014 // A Tulsa insurance agent has pleaded guilty to exploitation of the elderly for defrauding a Muskogee couple out of nearly $300,000, the Oklahoma Insurance Department announced. Presley Keith Dennis was arrested in January...
Wisconsin AG Candidate Not Sure About Criminalizing First DUIs
May 12 2014 // Wisconsin attorney general hopeful Susan Happ isn’t convinced criminalizing first-time drunken driving offenses would be the right move. Happ told a WisPolitics.com luncheon that first-time drunken drivers already...
Report: Ohio Has Most Metal Thefts in U.S.
May 9 2014 // Ohio continues to lead the nation in metal thefts, with 1,446 insurance claims made last year, according to a new report. A National Insurance Crime Bureau report said the state reported more than 4,000 claims from 2011...
Texas Regulators Name McWhorter Fraud Unit Employee of the Year
May 8 2014 // Lt. Donald McWhorter is the 2014 Texas Department of Insurance (TDI) Fraud Unit Employee of the Year. McWhorter was recognized for his successful career in law enforcement and fraud investigation during the 16th Annual TDI...
Former CFO of Prominent NYC Charity Admits Guilt in Thefts
May 7 2014 // Another former executive of a prominent New York City charity has pleaded guilty to conspiracy and grand larceny in what authorities now call a scheme to steal $9 million over two decades. Herbert Friedman, ex-chief...
