Keyword
fraud
Supreme Court of Canada hears appeal from auditing firm over $118-million judgement arising from Livent fraud
February 15, 2017 by Canadian UnderwriterIf the Supreme Court of Canada upholds a Court of Appeal for Ontario ruling against Deloitte & Touche, corporate auditors “will be encouraged to resign an audit before they feel they can responsibly do so in order to minimize the…
ICBC board finalizes terms of reference for independent review of insurance rates
January 26, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia’s (ICBC) Board of Directors (BoD) has finalized the terms of reference for an independent review of the fairness and affordability of basic insurance rates in the province, with the idea being to limit future…
LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs
January 24, 2017 by Canadian UnderwriterLexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.…
Coverage for Social Engineering Fraud Takes its Place Among the Required Coverage for Canadian Business
January 23, 2017 David S. Wilson, partner; Chris McKibbin, partner; and Zack Garcia, associate, Fidelity Practice Group, Blaney McMurtry LLPStandard crime insurance policies are not intended to cover social engineering fraud
FSCO issues warning over spam email appearing to come from the regulator
December 22, 2016 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a warning about a spam email using the fsco.gov.on.ca domain name and email address richard@fsco.gov.on.ca, which it said has been transmitting a computer virus to unsuspecting members of the public. The…
ICBC identifies over 3,000 possible fraud alerts on open claims with new analytics software
December 9, 2016 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) has discovered 3,300 possible fraud alerts on open claims over the last three years following a review with a new analytics tool. ICBC reported on Thursday that it has signed a five-year agreement…
On Good Behaviour
December 2, 2016 Robert Capps, Vice President of Business Development, NuData SecurityWith holiday season fast approaching, a surge in online shopping cannot be far behind. But with online shopping comes increased risk of security breaches and fraud. Combining behavioural analytics, passive biometrics and traditional verification solutions could go a long way towards keeping those risks under wraps.
Facial recognition set to go live in Saskatchewan in late August
August 18, 2016 by Canadian UnderwriterSaskatchewan Government Insurance (SGI) will have in place facial recognition software when issuing driver licences and photo identification cards come Aug. 24, a move the insurer maintains will help combat fraud and bolster road safety. Customers will not notice anything…
Indictment: Engineering firm altered Superstorm Sandy damage reports
August 4, 2016 Michael Balsamo - THE ASSOCIATED PRESSMINEOLA, N.Y. – An engineering firm that was hired by insurance companies to evaluate damage caused by Superstorm Sandy was charged Monday with illegally altering reports prepared by inspectors in the field. HiRise Engineering and one of the company’s project…
One in two fraud mitigation professionals ‘highly concerned’ with identify theft: LexisNexis
July 6, 2016 by Canadian UnderwriterOne in three fraud mitigation professionals who were not using either external data or analytics-based products for fraud detection and mitigation cited lack of budget as a reason why, LexisNexis Risk Solutions suggested in a report released Wednesday. LexisNexis Risk…
Supreme Court of Canada to hear appeal from Deloitte over $118-million judgment arising from Livent fraud
June 9, 2016 by Canadian UnderwriterThe Supreme Court of Canada announced Thursday it will hear an appeal from Deloitte & Touche, which was sued for $84 million in Ontario by the special receiver for Live Entertainment Corporation of Canada Inc., essentially for failing to detect…
Financial and Consumer Affairs Authority of Saskatchewan issues warning over financial scam
June 6, 2016 by Canadian UnderwriterThe Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning the public about an ongoing financial scam that attempts to solicit financial information from unsuspecting victims. This scam is committed by persons who claim to be representatives of Financial…