Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Japanese Insurer Tokio Marine Says Greensill Obtained Policies Fraudulently
Apr 4 2022 // Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously...
Louisiana Doctor Pleads Guilty to Workers’ Comp Fraud Conspiracy
Apr 4 2022 // An Alexandria, Louisiana physician pleaded guilty to having conspired to violate three different federal statutes in connection with a scheme to defraud both federal and private workers’ compensation insurers. U.S....
Drop in Cargo Thefts Follows Spike During Pandemic Lockdowns
Apr 4 2022 // A rash of railcar thefts in the Los Angeles area may have given a different impression, but nationally the number of reported cargo thefts dropped by 15% in 2021 compared to the prior year, according to CargoNet’s...
Former Licensed California Agent Faces Insurance Fraud Charges
Apr 4 2022 // A former licensed California insurance agent has been charged with 11 felony counts including identity theft, grand theft and embezzlement after allegedly writing 162 fraudulent policies in an attempt to gain unearned...
Triple Threat: Ransomware Criminals Add Data Theft, Manipulation to Encryption Tactics
Mar 30 2022 // Ransomware criminals are adding even more tools to their toolboxes, and companies are finding it harder to stay on top of the trends, according to guests on the most recent episode of The Insuring Cyber Podcast. Jeff...
London Insurance Brokers Probed for Bribery and Corruption by UK Serious Fraud Office
Mar 25 2022 // A handful of London insurance firms are being investigated for bribery and corruption by the UK’s Serious Fraud Office, according to people familiar with the probe. The fraud cops are examining the way firms,...
Former Licensed California Agent Faces Felony Insurance Fraud Charges
Mar 24 2022 // Formerly licensed California insurance agent has been charged with 11 felony counts including identity theft, grand theft and embezzlement after allegedly writing 162 fraudulent policies in an attempt to gain unearned...
Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard
Mar 21 2022 // Cyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber...
Texas Oilfield Company Charged With Workers Safety, Environmental Crimes
Mar 21 2022 // A federal grand jury in Midland, Texas, returned an indictment charging an oilfield company and an executive of the company with worker safety and environmental crimes. According to court documents, Aghorn Operating Inc....
Two North Carolina Insurance Agents Charged with Fraud
Mar 18 2022 // Two North Carolina insurance agents have been accused of submitting false insurance claims to collect more than $30,000, authorities said. The N.C. Department of Insurance said in a news release that Christian LaFabian...
People Moves: AXA XL Promotes Europe Managers; WTW Names Bassi for Insurance Consulting & Tech; Sedgwick Appoints Horrocks UK Head of Fraud Tech, Intelligence
Mar 17 2022 // This edition of International People Moves details appointments at AXA XL, Willis Towers Watson and Sedgwick. A summary of these new hires follows here. AXA XL Promotes 2 Regional Managers in Europe Peter Knaus AXA XL...
Drop in Cargo Thefts Follows Spike During Pandemic Lockdowns
Mar 17 2022 // A rash of railcar thefts in the Los Angeles area may have given a different impression, but nationally the number of reported cargo thefts dropped by 15% in 2021 compared to the prior year, according to CargoNet’s...
Brother, Sister Charged in $124 Million Cryptocurrency Fraud
Mar 10 2022 // U.S. authorities on Tuesday filed criminal charges against a cryptocurrency executive and civil charges against him and his sister, accusing them of defrauding retail investors out of millions of dollars with a digital...
Florida Woman Charged with Comp Fraud After Faking Kidnapping
Mar 9 2022 // A Florida woman who said she was kidnapped, raped and thrown out of a vehicle last year has now been charged with insurance fraud. Alma Delia Duran, 54, of Summerfield, sparked a manhunt in March 2021 around Ocala, in...
Texas Oilfield Company Charged With Workers Safety, Environmental Crimes
Mar 9 2022 // A federal grand jury in Midland, Texas, returned an indictment charging an oilfield company and an executive of the company with worker safety and environmental crimes. According to court documents, Aghorn Operating Inc....
North Dakota Farmer Pleads Not Guilty to Insurance Fraud
Mar 8 2022 // A central North Dakota farmer has pleaded not guilty to crop insurance fraud. Kent Pfaff, 58, of the Washburn area, has been released on a personal recognizance bond. U.S. District Judge Daniel Hovland on March 3 scheduled...
‘No Contest’ Plea Doesn’t Trigger Criminal Exclusion in Home Policy: Connecticut Court
Mar 7 2022 // An insured’s plea of nolo contendere to criminal charges does not trigger a criminal acts exclusion in a homeowners insurance policy governed by state law, the Connecticut Supreme Court recently ruled. A federal...
California Couple Sentenced in $1M Workers’ Comp Fraud Case
Mar 7 2022 // Carmen Hall Soruco, 70, and her husband Antonio Soruco, 75, both of Novato, California, were sentenced after pleading guilty to workers’ compensation fraud charges. Hall was sentenced on multiple felony counts to two...
U.S. Attorney General: Prosecuting Individuals Is Top Priority in Policing Corporate Crime
Mar 4 2022 // The U.S. Justice Department’s top priority in rooting out corporate malfeasance is to hold individuals accountable, Attorney General Merrick Garland said March 3 as he detailed a shift in focus and resources at the...
Cartier Lawsuit Accuses Tiffany of Stealing Luxury Jewelry Trade Secrets
Mar 2 2022 // Cartier sued Tiffany & Co on Monday, accusing its luxury rival of stealing trade secrets concerning its high-end jewelry from an employee it lured away in December, in a sign competition in the fast-growing jewelry...
