Insurance Fraud Losses Total 1.4 Trillion Won... Only 669 People Arrested

Jeong Woo-taek, a member of the People Power Party who was elected in the recent by-election in Sangdang-gu, Cheongju-si, Chungbuk, is giving a greeting speech at the plenary session held at the National Assembly on the 5th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lee Ji-eun] In the past five years, nearly 50,000 people have been arrested for insurance fraud, and the amount of damage has exceeded 1.4 trillion won, but only 669 of them were detained, accounting for just 1.4% of the total arrests, according to criticism.

Jeong Woo-taek, a member of the National Assembly's Public Administration and Security Committee from the People Power Party, received data titled 'Recent 5-Year Insurance Fraud Crime Occurrence Status' from the National Police Agency on the 13th, which showed that from 2017 to 2021, there were 17,285 cases of insurance fraud arrests and approximately 49,000 people were arrested.

Among them, 669 people were detained, about 1.4% of the total arrested.

The amount of damage caused by insurance fraud reached 1.419 trillion won over five years. The damage peaked in 2018 at 451.8 billion won, followed by 352 billion won in 2017, 275.7 billion won in 2019, 28.1 billion won in 2020, and 131.4 billion won in 2021. Representative Jeong pointed out, "Insurance fraud crimes are serious offenses that ultimately place the burden on ordinary citizens who pay their insurance premiums honestly."

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