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Fighting financial crime

How financial crime affects you and how we help prevent it

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What is financial crime?

Financial crime describes criminal offences like fraud, theft of money or other assets for financial gain, and money laundering.

How does it affect me?

Recent figures suggest undetected insurance claims fraud alone totals £2.1billion a year which adds an average of about £50 to the annual cost of an insurance policy.

At LV= we work hard to prevent fraud and other financial crimes to help keep your premiums as low as possible. We employ teams of specialists to prevent and investigate financial crime and they have many years of crime fighting experience.

We work with organisations like these to help us fight financial crime:

The Insurance Fraud Bureau (IFB)
a not-for-profit organisation focused on the detection and prevention of organised fraud
The Insurance Fraud Enforcement Department (IFED)
a specialist police unit dedicated to prosecuting insurance fraudsters
an association of 260 member companies (mostly insurance providers and banks) dedicated to the identification and prevention of claims and staff fraud. CIFAS is a not-for-profit organisation.
IFB - Insurance Fraud Bureau City of London Police (Insurance Fraud Enforcement Department) CIFAS

Don't be a victim of financial crime

Cyber Streetwise is a government-funded online resource, offering helpful information to protect you and your family from cyber crime.

For quick reference, we've put together some tips to help you avoid becoming a victim of financial crime:

  • Don't give any personal information (like your name, address, bank details, email or phone number) to organisations or people before making sure they have a legitimate need for the information. Note - This doesn't apply at the scene of a motor accident.
  • Use strong passwords, made up of three or more random words, make them even stronger with numbers and symbols. Get more information on strong passwords and tips at
  • Beware of phishing emails. Banks and financial companies won't send you emails asking you to click a link and confirm your bank details. Don't trust emails like these, even if they look genuine. You can always call your bank using the phone number given on genuine, previous correspondence from them, their genuine website or a telephone directory service. If you have any fraud concerns, you should report them as soon as you can.
  • Beware of 'vishing' calls - cold calls where personal information is extracted during what seems like a normal conversation. Never give away your personal information to an unknown caller. If you're suspicious then get more information including their name and company, contact details, the reason for their call and where they got your number.
  • Shred or destroy receipts which have your bank or credit card details on them. Also shred any unwanted mail with your name and address on. Identity fraudsters don't need much information to clone your identity.
  • Make sure your computer has up-to-date anti-virus and firewall software. Keep your browser and operating system up to date and set to the highest level of security notification and monitoring to help block viruses and computer crimes.
  • If you receive insurance documents, invoices or receipts for things you haven't bought, or from companies you don't normally deal with be alert to the possibility that your identity may have been stolen. Contact the company named on the document and establish how they have obtained your details.
  • Be suspicious of post, phone calls or emails offering you unexpected business deals. If an offer seems too good to be true, it probably is. Always question it!

If you suspect fraud

If you have an LV= policy:

Call us:
0800 633 5760

Email us:

If you don't have an LV= policy:

Report your suspicions to the Insurance Fraud Bureau

Be Cyber Streetwise

Cyber Streetwise screen shot

A government campaign to help protect yourselves and your family from cyber criminals.

Common examples of insurance fraud

Find out about types of insurance fraud and how to avoid them like:

  • Induced motor accidents (crash for cash)
  • Illegal insurance intermediaries or 'Ghost brokers'

More information on insurance fraud

Common examples of life insurance and pension fraud

Find out about types of life insurance fraud and the people fraudsters target:

  • Pension liberation fraud
  • Safeguarding vulnerable adults

More information on life insurance and pension fraud