Fake Customer Claims Experience documents and ID theft on the rise
We would like to make our partners aware that we are currently intercepting a large number of fake Customer Claims Experience documents and instances of ID theft.
Whilst our investigations continue, it would appear in several cases genuine companies have been the victims of an account takeover – where fraudsters purport to represent the company, with a view to incept a policy for ghost broking.
We want to highlight this as a consideration when brokers are conducting 'Know Your Customer' checks and ask that you remain vigilant, to help you, us, and the wider industry to combat fraud.
Red flags
While fraud can arise at any time in a professional relationship, the single most important point of risk control occurs before you start working with a customer. Knowing and understanding the nature of your potential customer better can be invaluable in spotting any potential ‘red flags’.
Contact
- How has the customer approached you?
- If by email, does the email address look legitimate? When posing as a genuine company, fraudsters often set up email addresses in the format of company@hotmail.com/gmail.com/outlook.com If possible, check against any websites and other online presence for the company.
- Have you spoken to the customer on the phone? Or not been able to get through? Fraudsters will use a myriad of disposable sim cards from which to make calls for their activity but will rarely answer calls received on them.
Documents
- Try to obtain all documents before binding the cover. Confirming any suspicions early on can be the difference between falling victim to fraud and preventing continuing activity.
- Do the documents have all necessary information, or is anything missing?
- Is the information on the document as expected? Is it proportionate to the circumstances?
- Does it look genuine? Does the document align with other similar documents you've received previously from other customers? Can you compare it against a legitimate document?
Actions
- There are open-source web pages that can help you verify information. For example, Government websites have information on limited companies and company directors, vehicle MOT and tax history, and bankruptcy and insolvency.
- Don’t be afraid to request clarification or further validation from the customer on anything that seems vague or irregular.
Please raise any queries or concerns when you’re approaching us for a quote.
For more information on QBE’s counter fraud activities, please contact our Special Investigation Unit dedicated to policy fraud: policyfraud@uk.qbe.com