How does the FBI investigate an insurance fraud?

How we investigate it. Like many other white-collar crime investigations, insurance fraud is mostly about following the money trail—which often involves questioning victims and victim companies, reviewing financial documents, and using sensitive techniques like informants and cooperating witnesses.

Who are the victims of federal financial fraud?

As the victim of a federal fraud crime, you may suffer financial and emotional harm and even medical problems relating to your victimization. And you are not alone. Millions of people in the United States are victims of fraud crimes each year.

How much does insurance fraud cost a family?

Most of this expense is passed on to consumers in the form of higher insurance premiums, to the tune of about $200 to $300 a year per family, according to the National Insurance Crime Bureau. Not to mention the number of insurance companies that go under because of excessive claims and/or the looting of company assets.

Who is to blame for property insurance fraud?

Property insurance fraud. Who commits insurance fraud? In most cases, it’s dishonest policyholders, insurance industry insiders (i.e., agents, brokers, company execs), and loosely organized networks of crooked medical professionals and attorneys who use their knowledge to bypass anti-fraud measures put in place by insurance companies.

How does the insurance industry deal with fraud?

To deal with specific issues involving criminal activity, many state insurance departments have antifraud and criminal investigators, who work closely with federal, state and local law enforcement officials to prosecute insurance fraud. Fighting fraud is an important aspect of state regulation .

As the victim of a federal fraud crime, you may suffer financial and emotional harm and even medical problems relating to your victimization. And you are not alone. Millions of people in the United States are victims of fraud crimes each year.

Is the FBI involved in health care fraud?

The FBI investigates these crimes in partnership with: Insurance groups such as the National Health Care Anti-Fraud Association, the National Insurance Crime Bureau, and insurance investigative units We need your help to identify, investigate, and prosecute this crime.

How to protect yourself from fake insurance fraud?

The NAIC’s “ Fight Fake Insurance ” program seeks to protect consumers from insurance fraud by encouraging them to Stop. Call. Confirm. before buying coverage. Consumers should call their state insurance department if they suspect illegal activity or if they have questions before purchasing an insurance policy.