[THE INVESTOR] Fraudulent insurance claims caught by the authorities hit a record high in the first half of this year, data showed on Sept. 6.

The related authorities caught insurance fraud cases worth 348 billion won (US$314 million) during the period, up 12.1 percent from a year earlier, according to the data compiled by the Financial Supervisory Service.

The figure marks an all-time high in the biannual statistics. But the number of scammers caught declined 2.2 percent to 40,054. The FSS said the increase in the volume of insurance money claimed came as the authorities have stepped up efforts to catch “bold, high-profile and organized” insurance scams such as those involving hospital staff and costly imported cars.

A special law on preventing insurance fraud is scheduled to take effect at the end of this month.

(theinvestor@heraldcorp.com)