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Insurance broker steals thousands from his clients

Publisher
The Office of the Commonwealth Director of Public Prosecutions
Date published
April 2019

Relevant impacts: Financial impact, human impact and industry impact

An insurance broker engaged in dishonest conduct by diverting 51 client refunds to personal accounts held in his name, totalling $199,391. The man was found guilty of 7 counts of fraud and sentenced to 2 years and 9 months in prison. He was also ordered to repay $29,951.30.

Related countermeasures

Conduct internal or external audits or reviews to evaluate the process, purpose and outcome of activities. Clients, public officials or contractors can take advantage of weaknesses in government programs and systems to commit fraud, act corruptly, and avoid exposure.

 Investigate fraud in line with the Australian Government Investigation Standards (AGIS).

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