Your assignment is to prepare and submit a paper on insurance fraud investigation in the uk.
The Serious and Organized Crime Agency has defined insurance fraud as an interlinking crime with other serious crime as terrorism, money laundering, and drugs trafficking. The articles probes into the nature of insurance frauds in the UK and its demography and investigation nature.The research article is stating on the demography characteristics of the insurance frauds and their race and ethnicity. It is estimated that the main offenders are males according to the prison survey. This was the same in the UK, Scotland and Canada, and the US.
The article claims that in the UK the majority of offenders are white, while in Canada the prisoners who were nationals are very less while the US had more Hispanic and African Americans as offenders. The violent crimes of these prisoners included assault, murder, sexual offenses, and kidnapping. It is mostly ethnical and racial minorities who perform crimes and come under the age of 35.However, the research conducted revealed that the demographic profile of white collars was different and they committed crimes like property crimes, forgery & counterfeiting, embezzlement, and fraud.
Their profiles only contained age, sex, and race and they are older than other offenders. These white-collar offenders were different from common criminals and they were usually middle-aged whites. The elite white collars were typically from the upper-class and had regular profit and enjoyed a luxurious lifestyle. The article suggests that psychological methods can be applied to investigate such fraudulent crimes. There is however less academic research in this field when it comes to the financial sector.
The insurance sector faces many challenged due to fraudulent claims and the research on computer-based fraud is limited.White-collar crimes and their victims need to be studied so that one can understand from whom such crimes tend to originate. Most of the fraud acts remain undetected .and the reason behind this is ignorance and lack of skill from the investigation department. The insurance industry has lost much due to such frauds and when coupled with anti-fraud technology it is doubled.