Financial Crime World

Netherlands’ Centre for Combating Insurance Crime: Fighting Financial Fraud and Protecting Insurers

The Netherlands Centre for Combating Insurance Crime (CBV), an integral part of the Dutch Insurance Association, is dedicated to fighting financial crimes that threaten the insurance sector. The organization works closely with insurers to detect and prevent various types of insurance fraud and advocate for policy-level changes.

CBV Information Hub: A Closed Environment for Collaboration

The CBV Information Hub offers a secure platform for security officers from the insurance industry to collaborate and stay informed about the latest insurance fraud trends. Features of this exclusive platform include:

  • Contact lists
  • Case law database
  • Research tools

Regularly updated information on new forms of fraud ensures that insurers can be proactive in safeguarding their businesses.

Insurance Crimes: An Overview

Insurance companies play a crucial role in compensating individuals and businesses for damage caused by crime. However, they themselves are susceptible to several types of insurance crimes:

  1. Insurance Fraud

    • Threatened by false claims and misrepresented applications
    • Challenged by occasional fraudsters as well as organized crime groups
    • Results in increased claim burdens, leading to higher premiums for customers

  2. Crime against Insurers

    • Increasing risk of burglaries, cybercrimes, extortion, blackmail, and violence
    • Requires robust security measures

  3. Money laundering and Terrorist Financing

    • Criminals can exploit the insurance sector for financial gains
    • Necessitates effective monitoring and deterrence strategies

  4. Corruption

    • Risk of compromised personnel and business relations
    • Requires strategic monitoring and deterrence tactics

A Shift in Focus: From Streetwise to Data and Decisiveness

In 2016, the CBV introduced its new vision for combating fraud, shifting the focus towards insurers becoming more perceptive and assertive: ‘Thinking like a fraudster’. In 2020, the CBV launched its ‘Data and Decisiveness’ vision document, which focuses on topics such as prevention, data sharing, modern technology, and collaboration with chain and public partners.

CBS Services: Operational Support for Insurers

The CBV’s operational support for insurers includes:

  1. Central Database

    • Accessible to insurers, police, and the judiciary
    • Automated CBV tests streamline the search process for relevant data

  2. Coordination of Large-Scale Investigations

    • CBV serves as a coordinator when multiple insurers face the same criminal group or scams
    • Streamlines the collection of supporting documents and drafting of joint declarations

  3. Consultation and Advice

    • CBV acts as a sounding board for insurers, helping navigate complex fraudster registration and investigation procedures

  4. Data Analysis and Knowledge Transfer

    • Identifies new forms of fraud and provides valuable insights into fraudster profiles and tactics
    • Allows insurers to make informed decisions and manage risks effectively

CBV’s Policy-Level Impact

The CBV’s efforts extend beyond daily operations, as they develop industry-wide solutions for preventing, reporting, and investigating fraud within the legal frameworks, such as the code of conduct for personal research and the Insurers and Crime Protocol.

Insurers in the Netherlands: Fraud in Numbers

According to the CBV’s statistics:

  • Car Insurance

    • 20,660 integrity and security checks (CBV tests) performed
    • 105 hits identified based on CBV keys

  • Contents and Home Insurance

    • 3,373 answers to insurers’ questions provided

  • Liability Insurance

    • 395 requests for information from the police and the judiciary handled

  • Package Policy (Combi Insurance)

    • 43 fraud signals received via anonymous tips

  • Travel Insurance

    • N/A

For more comprehensive statistics from previous years, please refer to the related factsheets.