Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Missouri Man Pleads Guilty to Arson, Insurance Fraud
Jun 16 2014 // A western Missouri man has admitted leading a conspiracy to buy cheap houses and set them on fire to collect nearly $435,000 in insurance benefits. The U.S. Attorney’s office says 27-year-old Joshua Stamps, of...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 16 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs), which investigated cases between January 2012 and...
Indiana Police Using Water-Based Chemical to Fight Theft
Jun 13 2014 // A northwestern Indiana police department is one of the first law enforcement agencies in the country to distribute a theft-deterring chemical that leaves DNA-like “signatures” on property and those who attempt...
In Search of the Best Defense Against Corporate Cyber Crime
Jun 11 2014 // With hackers stealing tens of millions of customer details in recent months, firms across the globe are ratcheting up IT security and nervously wondering which of them is next. The reality, cyber security experts say, is...
Texas Doctor Convicted Again on Workers’ Comp Fraud Charges
Jun 10 2014 // Texas Mutual Insurance Co. reported that a Travis County jury convicted Howard T. Douglas III, M.D. of Frisco, Texas, on felony workers’ compensation fraud-related charges for overbilling Texas Mutual for functional...
Texas Moves Forward in Becoming an NCCI State
Jun 10 2014 // In late March 2014, Texas Insurance Commissioner Julia Rathegeber approved a staff petition to adopt the National Council on Compensation Insurance (NCCI) Basic Manual, with Texas exceptions, and the national and...
ABI Lauds Government Measures to Stop Fraudulent Claims
Jun 10 2014 // The Association of British Insurers has commented on the measures introduced by Justice Secretary Chris Grayling, announcing “a major crackdown on insurance fraudsters and dishonest claims as part of new measures to...
Cyber Theft, Already a $445 Billion Business, to Grow Bigger
Jun 9 2014 // Cybercrime remains a growth industry. That’s the main message from former U.S. intelligence officials, who in a report today outlined scenarios for how $445 billion a year in trade theft due to computer hackers will...
N.J. Roofing Company Exec Gets Jail Time for Misleading Workers’ Comp Carrier
Jun 6 2014 // New Jersey authorities said the president of a New Jersey roofing company was sentenced to jail Friday for providing false and misleading information to the company’s workers’ compensation insurance carrier to...
Tennessee Targets Workers’ Comp Fraud in Construction Industry
Jun 6 2014 // The Tennessee Department of Labor has been expanding efforts to uncover employer fraud within the construction industry. The efforts, aided by recent legislation, will help identify employers who are paying workers under...
Kia’s Dancing Hamster Nabbed in California on Insurance Fraud
Jun 5 2014 // Leroy Barnes, 27, of Los Angeles, known as one of the dancing hamsters in Kia car commercials, was arrested on insurance fraud charges related to his alleged fraudulent collection of state disability insurance...
Maine Man Sentenced to 1 Year in Jail, $50K Restitution for Comp Fraud
Jun 5 2014 // A Maine man was sentenced this week in Aroostook County Superior Court to serve 42 months in jail, with all but one year suspended for workers’ compensation fraud. Workers’ comp insurer MEMIC — whose...
Willis Exec Warns of Rise in ‘White Collar Crime’ in UK
Jun 4 2014 // Francis Kean, executive director in Willis’s financial and executive risks practice has examined a growing trend in white-collar crime in a WillisWire blog. He indicated that” according to a report in The Times...
Dryad Maritime Warns of Increases in Southeast Asia Cargo Thefts
Jun 4 2014 // The latest report of a tanker hijack in Southeast Asia has prompted Dryad Maritime to issue an advisory to its shipping clients, based on the supposition that “crime follows a pattern, which has seen up to six such...
Fraud Report: 5 Percent of Organizational Revenues Lost to Internal Theft
Jun 3 2014 // Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December...
3 More Sentenced in $1M West Virginia Arson, Insurance Fraud
Jun 2 2014 // Three more defendants in a $1 million arson insurance scheme in Logan, West Virginia, have been sentenced to prison. U.S. Attorney Booth Goodwin said the three were sentenced to a total of 25 years in prison for their...
Safety Is Paramount for Texas Mutual CEO Gergasko
Jun 2 2014 // Richard Gergasko, CEO of workers’ compensation insurer, Texas Mutual Insurance Co., describes himself as an insurance geek. Trained as an actuary, he’s been involved in the insurance business for 30 years. With...
Arrests in California Fraud Ring Targeting Auto Dealers and Insurers
Jun 2 2014 // A four-year investigation into an organized fraud ring has uncovered a million-dollar scheme targeting high-end vehicles through auto loan and insurance fraud has led to several arrests, the California Department of...
20 Years Later, Stolen 1966 Red Mustang Returned to Owner
Jun 2 2014 // Betsy Montgomery, drove the same car on her 55th birthday that she drove as a 15-year-old living in south Jackson, Mississippi – a 1966 red Mustang that her dad bought from the original owner in 1973. How she got the...
41 Charged for Multi-Million Dollar Auto Insurance Fraud Scheme in Philadelphia
May 30 2014 // The Philadelphia district attorney’s office has charged 41 people for what prosecutors described as a multi-million dollar auto insurance fraud scheme. Prosecutors allege Ronald Galati Sr. and his co-conspirators ran...
