ICAC arrest 26 over insurance scam involving HK$77m

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25th October 2021 – (Hong Kong) Last month, the Independent Commission Against Corruption dismantled two criminal syndicates that defrauded insurance companies and arrested 26 people, involving a total of HK$77 million in fraud. An insurance agent colluded with 3 syndicate members and used high critical illness insurance to defraud the insurance company of huge compensation.

Another insurance company executive used 18 downline staff to earn commissions and scammed insurance companies over HK$51 million. Related cases are still under investigation, and it is not ruled out that more people will be arrested.

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