Fighting financial crime

How we go about fighting financial crime

What is financial crime?

  • Financial crime covers a wide range of criminal offences including fraud, money laundering, bribery and corruption, terrorist financing, tax evasion and market abuse and insider dealing. The primary motivation for such crime is to make money.
  • A conservative estimate of the cost of serious and organised financial crime to the UK is £37 billion a year [1]; the effect of which is felt by individuals, companies, organisations and even nations due to the considerable loss involved.

[1] Government evidence

How does financial crime impact me?

Financial crime is not victimless; it impacts everyone with an increase in policy premiums and can be particularly damaging to the confidence of our more vulnerable customers in their ability to manage their financial affairs.
Everyone is a potential victim; financial crime awareness is key to your protection.

Different types of financial crime

Insurance fraud

  • Crash for cash
  • Illegal Insurance
  • False declarations of No Claims Discount
  • Policy Fronting
  • Claims Farming
  • Ghost brokers

Pension fraud

  • Vulnerable adults
  • Investment fraud
  • Pension scams
  • Pension liberation

financial crime

Other types of financial crime...

Preventing financial crime at LV=

At LV= we work hard to prevent financial crimes to help keep your premiums as low as possible.

We also employ teams of specialists, with many years of crime fighting experience, to investigate any suspicions of financial crime and report our findings to the police and other law enforcement agencies.

We work with many organisations to support this:

Do you suspect fraud?

If you're worried that you may suspect fraud, and you have an LV= policy, you can email us on [email protected]

If you don't have an LV= policy, you can report your financial crime suspicions to Cheat Line on: 0800 422 0421.