Fraudulent Insurance Claims Reach Record High in 2024

SEOUL, March 9 (Korea Bizwire) — The amount of insurance payments collected in insurance frauds climbed to an all-time high last year, prompting authorities to step up efforts to curb such practices, the financial regulator said Sunday, Insurance scammers took a record 1.15 trillion won (US$794.6 million) through wrongful filings in 2024, up 3 percent [...]