The level of known defrauding by the international financial community is rising fast and set to take a further leap in London on the back of Big Bang.
That’s according to analysts in Lloyd’s insurance market, the only body which receives accurate reports on almost all significant instances of financial wrong-doing.
“The loss exposures have been appalling,” said Peter Battle, an underwriter for Merrett Underwriting Agency, one of the leading insurers of banking fraud risk worldwide.
Gregory Collins, who handles bank fraud policies for insurance brokers Hogg Robinson, out it this way: “It’s not just the frequency of claims that has grown, it’s their size which is so astonishing.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
