Police operation at Heathrow targets luxury watch fraud

The City of London Police’s Insurance Fraud Enforcement Department (Ifed) has carried out an operation at Heathrow Airport to clamp down on high-value watch fraudsters.

Ifed uncovered a scheme where luxury watches, reported stolen or linked to fraudulent insurance claims, were being smuggled abroad through airports for resale.

In turn, Ifed officers, collaborating with Border Force and HM Revenue and Customs (HMRC), carried out a two-day operation at Heathrow on 6 and 7 November 2024 to help disrupt the practice.

This saw officers look out for high-value watches worn by passengers or packed in their luggage. They were then checked the against The Watch Register, an international database containing information on lost and stolen timepieces, to verify their authenticity.

Advice about how to spot watch insurance fraud was also issued to passengers.

Detective chief inspector Tom Hill said that ”time is running out for people who deal in fraudulent luxury watches”.

He added: “Luxury watch insurance fraud contributes to increased premiums and has alarming and inconvenient consequences for buyers who unknowingly purchase a watch that has been used in a bogus claim.

“Common examples include people making claims for the same watch with multiple insurers, taking out insurance policies using counterfeit watches and fake documents, or pretending that they lost their watch and then going on to sell it.

“We have worked with colleagues at Heathrow Airport to make them aware of this growing issue.”

Watch Register

According to The Watch Register, one in ten watches in its database shows signs of insurance fraud.

Additionally, it revealed yesterday (13 November 2024) that over £1.5bn worth of watches are registered, with its daily recovery rate for lost and stolen timepieces reaching an average of six in September alone.

And in the past year, it has helped recover over 1,000 lost or stolen watches, with nearly two in five having crossed multiple borders or continents before being found.

Katya Hills, managing director at The Watch Register, said: “We’re committed to tackling the trade in stolen luxury watches and helping businesses and purchasers safeguard themselves with the best due diligence tools available.”