_Fraud Interview

Question 1

What is Fraud?

Answer 1

An intention to decieve or mislead an insurance company, to make a financial or personal gain.

Question 2

Who are Action Fraud

Answer 2

Action Fraud is the UK’s national fraud and cyber reporting centre.

Question 3

Latest Direct Line Fraud Warnings

Answer 3

Offers to buy Direct Line Bonds
Some customers were sold higher premiums

Question 4

How have you managed to demonstate the ‘Be Yourself’ value?

Question 5

What is Ghost Broking?

Answer 5

Ghost brokers decieve customers into thinking they can get them cheap car insurance, but actually leave them without a valid insurance policy.

Question 6

How do ghost brokers break the law?

Answer 6

• They will buy a real policy and refund it, after you’ve paid them.
• They will alter policy documents to make it look like you have a valid policy when a policy was bought with fake details to make it cheaper.
• They will forge policy documents, to make it look like you have a real policy when there is no coverage.

Question 7

What is a complaint?

Answer 7

A complaint is an expression of dissatisfaction where financial loss, material distress, or material inconvenience has been reported.

Question 8

What is a Vulnerability?

Answer 8

A vulnerability is a state which can determine how suspectible you are to harm.

Question 9

How do you demonstate the ‘Win Together’ Value?

Question 10

Tell me a bit about yourself and why you’ve applied for this job?

Question 11

What is fronting?

Answer 11

Fronting is when a lower risk driver is named as the main driver and the lower risk driver is named as the secondary driver when they are actually the main driver.

Question 12

Who are the IFB and what do they do?

Answer 12

The IFB are the Insurance Fraud Bereau, a non profit organistion that helps to combat organised fraud and build consumer trust within the insurance industry.

Question 13

How have you demonstrated the ‘Own It’ Value?

Question 14

What is Impersonation?

Answer 14

Where criminals pretend to be a trusted person or organisation to trick you into giving them money, personal details, or access to your accounts.

Question 15

How can someone report they have been a victim of insurance fraud?

Answer 15

CheatLine

Question 16

How is identity theft different to impersonation?

Answer 16

Identity theft is when loans or services are taken out in your details which have been stolen, as opposed to impersonation which is acting as somebody else.

Question 17

Who are the IFR and what do they do?

Answer 17

The IFR is the Insurance Fraud Register and they share a database of known frausters across the insurance industry.

Question 18

Who are the FCA and what do they do?

Answer 18

The FCA are the financial conduct authority and they regulate financial service providers to esure cosumers are treated fairly, and to promote healthy competition.

Question 19

How have you demonstrated the Speak Up Value?

Question 20

What is Quote Abuse/Application Fraud?

Answer 20

When a fraudster deliberately provide incorrect information to secure a lower premium e.g. Using a lower risk home address, using a more experience driver as the main driver, using a lower risk occupation.