Fraud

allianz-shifts-commercial-cyber-portfolio-to-coalition-in-global-partnership

Cyber protection gap widens as awareness outpaces uptake: Munich Re

July 20 2026

Survey shows concern over personal cyber risks is highest in India at 78%, followed by South Korea at 56%.

Hands typing on a laptop with floating security icons and a wireframe face, highlighting deepfake threats in cybersecurity contexts.

Korea FSC to establish AI-based insurance fraud prevention infrastructure in 2026

July 15 2026

Measures targeting insurance fraud, corporate governance, and AI adoption form part of the regulator's broader financial-sector reform programme for H2.

us-insurers-sue-china-construction-bank-for-us13m-over-vesttoo-loc-fraud

Buckle, Gateway insurance sue China Construction Bank for US$13m over Vesttoo LOC fraud

May 29 2026

The latest claim adds to multiple similar actions against China Construction Bank Corporation, with estimated exposure of around US$2.81bn.

South Korea’s FSS refunds KRW1.36bn in auto insurance fraud surcharges to 2,289 victims

April 22 2026

The FSS says it will also transfer long-term unclaimed surcharges to the Korea Inclusive Finance Agency from May 2026.

south-koreas-major-non-life-insurers-break-1-trillion-won-in-overseas-premiums-for-2023-report

General Insurance Association of Korea, criminology institute join forces to combat rising insurance fraud

January 9 2026

The collaboration aims to curb social costs, protect policyholders, and strengthen the stability and fairness of Korea’s insurance system.

ica-shift-technology-exl-collaborate-on-ai-driven-fraud-detection-platform

ICA to partner with Shift Technology, EXL on industry fraud detection platform

November 24 2025

The new platform will enable Australian insurers to share data and detect fraudulent claims in real time, with an initial focus on motor insurance.

indonesias-telkomsel-partners-with-igloo-to-offer-embedded-cybersecurity-gadget-cover-to-150m-users

Igloo partners with Indonesia’s Telkomsel to offer embedded cybersecurity, gadget cover to 150m users

September 23 2025

With the roll out, prepaid users can gain access to low-cost cyber, gadget, travel and phone screen cover via the MyTelkomsel app.

former-china-construction-bank-manager-charged-with-bribery-linked-to-vesttoo-related-fraud

Vesttoo creditors sue Aon, China Construction Bank

August 15 2025

The lawsuit claims Aon and CCB enabled the creation of fake LOCs that triggered Vesttoo’s bankruptcy and widespread insurance sector losses.

ai-driven-fraud-surge-tests-apac-insurers

Surge in AI-driven fraud tests APAC insurers

May 8 2025

Rising sophistication and volume of AI-driven claim submissions puts upward pressure on costs and premiums.

China launches new system to report medical insurance fraud

April 8 2025

NHSA introduces WeChat-based reporting for medical insurance fraud with rewards for valid leads.

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