132 Insurance Crime Prevention Honorees Selected, Including Insurance Fraud Investigators and Specialist Examiners

[Asia Economy Reporter Oh Hyung-gil] A total of 132 insurance fraud investigators and Special Investigation Units (SIU) were selected as contributors to insurance crime prevention this year.

The '2021 Insurance Crime Prevention Contributors Awards,' hosted by the Life Insurance and Non-life Insurance Associations and supported by the National Police Agency, Financial Services Commission, and Financial Supervisory Service, was held on the 29th.

The associations have held award ceremonies every December to honor police investigators who have made significant contributions to eradicating insurance crimes and SIU members responsible for investigating insurance fraud within the insurance industry.

This year, four individuals including Detective Shin Dae-seop of Gwangju Bukbu Police Station received the Financial Services Commissioner's Commendation, and four individuals including Inspector Jeong Jin-wook of Busan Haeundae Police Station received the National Police Agency Commissioner’s Commendation. In total, 132 people, including 78 police investigators and 54 SIU members from the insurance industry, were selected and received awards from the Financial Services Commission, National Police Agency, Financial Supervisory Service, and the Life and Non-life Insurance Associations.

Detective Shin Dae-seop apprehended medical staff and patients who issued false medical records claiming procedures were for medical purposes rather than cosmetic surgery, which was performed on patients introduced through brokers. He arrested a total of 219 people (including one detained), comprising two doctors who fraudulently claimed approximately 630 million KRW from private insurance companies and 190 million KRW from the National Health Insurance Service, nine brokers, and 208 patients, earning him the award.

Despite insurance fraud causing an annual leakage of about 6 trillion KRW in insurance payouts, ordinary citizens sometimes fall into the temptation of brokers and become involved in insurance fraud without much guilt, which calls for special caution.

An official from the Insurance Association stated, "We encourage the efforts of police investigators and SIU members selected as contributors to insurance crime prevention," adding, "We will do our best not only to strengthen preventive activities through publicity and education to eradicate insurance fraud but also to improve systems such as revising the Special Act on Insurance Fraud Prevention."

This content was produced with the assistance of AI translation services.