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Cybersecurity team monitoring Australia's network security, strengthening anti-fraud measures for general insurers. - Supply Chain News

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Australia: General Insurers Strengthen Anti-Fraud Measures

by Raxer X.
05/22/2024
in Fraud & Scams, Security & Risk

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SupplyChainReport – The Insurance Council of Australia (ICA) has introduced a new counter-fraud and scams initiative aimed at combating organized fraud networks and identifying emerging fraud trends. In 2023, ICA members detected AUD 560 million in opportunistic insurance fraud, with undetected fraud costing the industry around AUD 400 million annually. The new function will work with insurers and government agencies to enhance fraud detection capabilities. Andrew Gill, appointed CEO of the unit, brings extensive experience from his tenure in the New South Wales Police and as a forensic director at McGrathNicol. ICA CEO Andrew Hall emphasized the importance of reducing fraud to lower insurance premiums and protect customers.

Discover supply chain news insights on The Supply Chain Report. Enhance your international trade knowledge at ADAMftd.com with free tools.

#InsuranceFraud #FraudDetection #InsuranceCouncilAustralia #FraudPrevention #ScamsInitiative #OrganizedFraud #InsuranceIndustry #ConsumerProtection #AndrewGill #InsurancePremiums #FraudTrends #ICA #ForensicAnalysis #InsuranceAwareness

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  • Home
  • Industry
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    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
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    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
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    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.