Analysis

Ghost broking activity continues to rise – IFB

By 2024-07-24T13:00:00

ghost broking spooky

Ghost brokers can ’leave victims seriously out of pocket’ and put policyholders ’into trouble with the police for driving without insurance,’ says director

Reported cases of customers being tricked into purchasing fake motor insurance policies by ghost brokers rose by 6% year-on-year in 2023, according to the latest data from the Insurance Fraud Bureau (IFB). 

Ghost broking refers to a type of crime whereby fraudsters imitate insurance brokers in order to sell fraudulent insurance policies. Criminals often utilise social media channels to lure in customers with highly discounted, but ultimately fraudulent, rates for insurance. 

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