Crackdown on insurance fraud crimes yields result

A seven-month joint crackdown on insurance fraud, involving both police and financial regulatory bodies, addressed major crimes of public concerns, stabilizing the insurance market, officials said at a news conference on Friday.

From April to November last year, over 1,400 insurance fraud crime cases, amounting to more than 1.5 billion yuan ($205 million), were resolved, and more than 300 criminal gangs involved in insurance fraud were dismantled, according to Hua Liebin, head of the economic crime investigation bureau of the Ministry of Public Security.

The special operation was launched by the ministry and the National Financial Regulatory Administration in late April last year, aiming to tackle growing concerns from public and insurance agencies over rising fraud activities.