IFB will be “Fighting Fraud Together”

The “Fighting Fraud Together” initiative, which was launched towards the end of 2011, made up of 34 organisations from various sectors including the Insurance Fraud Bureau, will address fraud in the UK.

The various members are made up of industry representatives, the Government, voluntary groups and law enforcement agencies. Each member has agreed to expand successful activities in their sector, share fraud intelligence, and emphasise fraud prevention with the target of disrupting the activities of fraudsters. 

The Insurance Fraud Bureau (IFB) has released details of their action plan which will deliver a new strategy and support financial investment needed in the fight against organised crime. The IFB plan to increase their annual industry fraud prevention spend by 0.5% enabling them to employ additional staff to assist their customers to tackle fraud and result in savings of £60m over a three year period.

They will also have the capacity to target organised motor insurance fraud which impacts its customers hugely, currently valued at £161 million.

Its role in the initiative demonstrates its long-term commitment to the reduction of insurance fraud.