Carrefour of Fraud in Europe

Abstract

The increasing liberalisation of all forms of trade, including the financial services sector, is encouraging the internationalisation of the European insurance industry, making it more vulnerable to fraud. This paper discusses the current problem with fraud in the sector, and considers the implications of moving into new markets. It then looks at future fraud prevention methods such as screening of applicants and stresses that there is an urgent need for the situation to be reviewed.