What does IFB mean in INSURANCE

An insurance fraud is an intentional deception made by an individual or organization to obtain a benefit from an insurance process. This can include making false claims or exaggerating the extent of a claim in order to receive more money than they are actually owed.

The Insurance Fraud Bureau (IFB) works with insurance companies, law enforcement and government agencies to identify, investigate and prosecute those who perpetrate fraud against the industry. They also help to raise awareness of fraudulent activities amongst both consumers and businesses and promote best practice in detection and prevention of such incidents.

The IFB investigates all types of fraudulent activity that occurs within the insurance industry, such as staged accidents, exaggerated medical claims, vehicle theft claims, false accounting schemes and other forms of dishonest behaviour.

If you suspect someone is committing an act of insurance fraud then you should contact your local police station or report it directly to the Insurance Fraud Bureau on their website at www.ifb.org.uk/report-insurance-fraud/. You can also call them on 0800 422 0421 anonymously if you wish to remain anonymous when reporting a suspected fraudulent incident.

Yes, people who are found guilty of perpetrating a crime related to insurance fraud face serious consequences including fines, imprisonment and may even be required to pay back compensation fees become voidable by their insurers under the Proceeds of Crime Act 2002 (POCA). In addition individuals may have their policy voided with no refund paid out for any premiums already paid as well as potentially facing legal action from their insurers themselves.

Yes, if you suspect someone is engaging in activities that could be classified as fraudulent then you can make an anonymous call via our dedicated hotline number (0800 422 0421). It is important that all information given is accurate so that it can be followed up correctly by our trained investigators.

All investigation work carried out by the IFB is done so by experienced investigators who have been trained in how to collect evidence in line with criminal investigation standards mandated by law enforcement agencies across Europe. In some cases external Police officers may also be involved depending on the severity and complexity of the case being investigated.