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Best Practices to Combat Common Fraud Tactics

OAK BROOK, Ill., Nov. 15, 2024 /PRNewswire/ -- The National Insurance Crime Bureau (NICB), the nation's leading not-for-profit association dedicated to preventing insurance fraud and crime, is joining organizations worldwide in recognizing International Fraud Awareness Week from November 17-23 by launching a new set of fraud detection trainings and sharing consumer-focused tips throughout the week.

This annual campaign, led by the Association of Certified Fraud Examiners, shines a light on the costs and impacts of fraud, including insurance crimes that hurt millions of Americans each year.

Insurance fraud – ranging from staged accidents, falsified claims, and billing fraud scams perpetrated by unscrupulous care providers and contractors – costs hundreds of billions annually. During International Fraud Awareness Week, NICB will launch a public awareness campaign arming consumers with practical guidance on how to identify red flags and avoid falling victim to these schemes.

"Insurance fraud is not a victimless crime. It drives up costs for everyone and demands that we all foster a renewed sense of alertness," said David J. Glawe, President and CEO of NICB. "NICB is committed to empowering Americans through our partnerships with advocates, insurers and law enforcement across the U.S."

Tips to Avoid Insurance Fraud

NICB offers the following tips to avoid falling victim to insurance fraud:

1. Research, Verify, and Review: Protect yourself from billing fraud by ensuring that no matter the type of service, you are researching the providers, verifying their licensing, credentials and reputation, and double checking that the services provided match the services requested.
   
   
2. Know Your Policy: Familiarize yourself with your insurance coverage, so you know what your policy includes and excludes. Fraudsters often exploit policyholders' lack of awareness to push unnecessary or fake services.
   
   
3. Beware of High-Pressure Sales Tactics: Scammers often use urgency to coerce victims into quick decisions. Always take the time to verify claims and offers before proceeding.
   
   
4. Stay Alert to Auto Accident Fraud: Be cautious of staged accident schemes, in which fraudsters intentionally cause or misrepresent minor collisions to submit false injury claims. If you suspect fraud at the scene of an accident, contact the police and document the event.
   
   
5. Report Suspicious Activity: If you suspect fraudulent activity, report it to NICB at 1-800-TEL-NICB (1-800-835-6422) or submit a tip to NICB.org.

Join Us in Fighting Fraud

This week, NICB calls on everyone – from industry leaders to policyholders – to play a role in combating insurance fraud. Together, we can make a difference by staying informed, remaining vigilant, and reporting fraud when we see it.

For more information about NICB and International Fraud Awareness Week, visit NICB.org.

About the National Insurance Crime Bureau: Headquartered in Oak Brook, Ill., the National Insurance Crime Bureau (NICB) is the nation's leading not-for-profit organization exclusively dedicated to combatting and preventing insurance crime through Intelligence, Analytics, and Operations; Education and Crime Prevention; and Strategy, Policy, and Advocacy. NICB is supported by more than 1,200 property and casualty insurance companies and self-insured organizations. To learn more, visit NICB.org.

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SOURCE National Insurance Crime Bureau