Internal fraud: recent events show threats to brokers

11 Oct 2016

BLM partner and head of professional indemnity, Julian Smart, recently spoke to Insurance Age about internal fraud threats to brokers, an issue which has been forced into the spotlight following recent high profile cases.

Julian said it is often the accountant, finance controller and finance director who commit the crime in the accounts department or cash office. 

“There are loopholes that people can get around to abuse the system and bypass all the controls but there should be two signatures [on every document] to [counter this].”

To read the full feature on the Insurance Age website, please click here.

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to customers of BLM. Specialist legal advice should always be sought in any particular case.

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Julian Smart

Julian Smart

Partner,
Birmingham


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