Fraud continues to be the most prominent threat facing the UK. It is now the single biggest crime type in England and Wales and an estimated 86% of fraud is committed online. In a rapidly changing society that is becoming ever more dependent on digital infrastructure, online fraud and scams have become even more prominent over recent years. Online financial scams impact both the insurance and long-term savings sectors, with ghost broking, paid for scam advertisements, Google Ad spoofing and clone investment scams being just some examples.
In the second Associate Member roundtable of 2023, we will discuss cyber-enabled insurance fraud. This roundtable will explore how the insurance and long-term savings’ sector is combatting cyber-enabled fraud, through improving understanding the cyber fraud threat landscape and collaborating with law enforcement to investigate and prosecute online fraudsters. We will also explore the role of the legal sector in the fight against fraud and how improved cooperation can help prevent fraud and protect innocent consumers.
AGENDA
Chair: Mark Allen, Assistant Director, Head of Fraud & Financial Crime
Cyber Enabled Fraud Threat Landscape - TBC, Insurance Fraud Bureau
- This keynote address by the Insurance Fraud Burau (IFB) will focus on how the current fraud threat landscape is evolving, including how it has changed in recent years, how the increasing digitalisation of society has affected threat landscape, the main type of cyber-enabled frauds and how the industry counter-fraud response is adapting to these changes.
Combating Cyber-Enabled Insurance Fraud - DCI Tom Hill, Head of Unit, Insurance Fraud Enforcement Department
- This keynote address by DCI Tom Hill, Head of Unit, Insurance Fraud Enforcement Department (IFED) will explore the work of IFED, focusing on how they work with insurers to combat cyber-enabled insurance fraud and key case studies of successful investigations and convictions as well as highlighting the role they play in preventing and supporting victims of cyber-enabled fraud.
Police Response to Cyber Crime - TBC, City of London Police
- This keynote address from the City of London Police will focus on the wider policing response to cybercrime and online fraud, including the other cyber threats facing individuals and businesses, police initiatives to help businesses protect themselves from cyber threats and how the police cooperate with businesses and law firms to improve cyber resilience.
Roundtable Discussion - What is the role of the legal sector in the fight against cyber-enabled insurance fraud
This roundtable discussion will focus on the following questions:
- Is existing legislation, such as the Fraud Act 2006, effective for tackling cyber-enabled fraud?
- Is the current judicial system working effectively and fit for purpose for prosecuting fraud in the digital age?
- What more can be done to deter fraudsters? Are harsher judicial sanctions or penalties the answer?
- Are there sufficient resources available to bodies such as the Crown Prosecution Service to tackle fraud and support victims?
- How can cooperation between the insurance and legal sectors to combat cyber-enabled fraud be improved? Additionally, how can cooperation between the public and private sectors be improved?
Due to the limited capacity and to ensure diverse participation, we are extending this invitation to one representative per organisation.