London’s new Insurance Fraud Enforcement Department (IFED) opened it’s doors for the first time today, and already they are reviewing a number of cases from the end of last year.
The department, which received £3 million in funding from the Association of British Insurers, is based at the London Police Economic Crime Directorate. It consists of a 34 strong team of detectives and financial investigators who will be working closely with the insurance industry.
The main priority of the department will be to target “the organised crime gangs that are responsible for an increasing amount of today’s insurance fraud, and to change the public perception that committing small time ‘opportunistic’ fraud does not really matter.”
They will be targeting motor insurance fraud and commercial and public liability fraud – while at the same focusing on emerging threats, such as illegal insurance advisers.
“The purpose is to deter, disrupt and reduce fraud across all sectors of the industry,” said David Wood, Head of the IFED. “We’re working from crash-for-cash cases down to minor opportunistic household claims”
City of London Police Commander Ian Dyson, said, “This is an important day for both the City of London Police and the ABI, working together to deliver the Insurance Fraud Enforcement Department on time and budget.
“However, the real work begins today. IFED is here to turn the tide against all those who break the law, dismantling far-reaching criminal networks and changing a culture that says it is ok to submit bogus insurance claims. There is much to be done and there is not a moment to lose.”
