Stopping scams and protecting the public
Authored by QBE Senior Risk Manager Jaini Gudhka
Renewed strategies to address cyber fraud epidemic require greater collaboration between institutions to evolve fraud prevention and minimise impact of criminal activity
The UK Government’s new Fraud Strategy: Stopping Scams and Protecting the Public is welcomed, but it is not a cure-all for cyber fraud, especially considering the scale of the cyber problem and how rapidly criminals evolve their tactics.
Individuals and businesses should not view this as an announcement of safety, but instead a prompt to consider whether they are allowing themselves or their customers to become easy targets for criminal groups.
Criminals tend to follow money, so if you are going to do one thing today, think about how easy you are making it for them to access your finances, whether that’s when transferring funds to complete a house purchase or paying a supplier. Collaboration is an important part in the fight against fraud and cybercrime, and QBE has been supporting businesses for over 10 years with this, but nothing replaces the effectiveness of personal vigilance.
Recent guidance and further information about preventing fraud includes:
About QBE
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.