99 Alternatives

Opportunities are Infinite

Please wait
Business
All Categories
Platinum-Trading-Academy_728x9099 Ads

Insurance broker scams

Victims aged 17 to 29 have reported scamswhere they call a person who impersonates an insurance broker and sells a non-existent or invalid policy to a new driver at a lower rate. 

Such deals are promoted through unrealistic low prices, and fake documents are used to get the policy, even though the premium of any policy should be based on the risk involved.  

In such cases, when the driver seeks a claim, they discover they are not insured, and they have paid to get the cover that does not exist.  Furthermore, illegitimate methods raise the risk of losing personal information to criminals, which can be doctored and sold to others. 

In the case of invalid documents, not only they do not get any claim for accidents. Instead, they will have to face court and pay unlimited fines and suffer from a driving ban.

The authorised government agencies have issued warnings to the learners preparing to pass the test to be aware of it. If they do not get aware, they will lose hundreds of pounds on the unreliable photoshopped document. 

The transactions are conducted through social media sites or apps like Whatsapp. However, the clients who buy such plans face the risk of legal actions due to uninsured driving. Therefore, all drivers should carry out checks and spend through trusted providers to get accurate claimable reports, which are most important. 

The new drivers have been advised not to deal with bogus agents. However, if they are buying a policy, check the registered details of the broker. If you suspect any fraud, report it to regulatory agencies. 

Date Published: Feb 11, 2022

Types of fraud

A-Z of fraud

To help understand which fraud you've been affected by, we've categorised them into an alphabetical list.

What is fraud and cyber crime?

Cybercrimes can be of two types. First, it can be cyber dependent, where the fraudsters use online devices to convince the victim to accept their offers.

Advance fee fraud

If you are trying to get a loan for a house or a car, they ask to meet the provider to get the financing arrangement and pay the finder's fee in advance.

Corporate fraud

Corporate frauds can be complicated, committed either by the firm or an individual. Nevertheless, it mostly involves cheating where the employee or the firm.

Individual fraud

There are many types of individual frauds related to advance fees, investments, insurance brokers, bogus tradespeople, Ponzi schemes, pension liberation.

Online fraud

Hence the number of cases of online fraud is increasing each year, and most such cases include – account takeover, direct frauds, or scams related domain names.

Identity fraud and identity theft

The criminal uses the stolen identity of another person living or deceased to conduct unlawful activities like obtaining goods or services in another's name.
Interact-With-Prospective-Clients_728x9099 Ads

Copyright © 2022 99alternatives Ltd.   All rights reserved.

Designed and Managed by Mont Digital