Valid motor insurance is proving to be as valuable a disguise for today’s criminals as stockings over the head or a mask, according to James Burge, fraud manager at Allianz.
Criminals are using stolen identities to take out cover, their vehicle details are added to the Motor Insurance Database, allowing them to drive around without attracting police attention.
Stealing an individual’s ID and taking out motor insurance in their name used to be the preferred modus operandi. However, as the insurance industry has clamped down on this, the criminals have shifted their focus to the commercial lines market, with fleet and motor trade providing a new target.
This blog post sheds light on the changing landscape of identity theft and the tactics used by fraudsters.