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“Unfortunately, data breaches have become more commonplace in recent years as fraudsters eye gaining access to a consumer’s personally identifiable information. Yet there is another, sometimes overlooked, dimension fraud, and that is the fraudster is often someone that is known to the victim,” said Aite Group research director Michael Trilli in a statement. (Photo: Shutterstock) “Unfortunately, data breaches have become more commonplace in recent years as fraudsters eye gaining access to a consumer’s personally identifiable information. Yet there is another, sometimes overlooked, dimension fraud, and that is the fraudster is often someone that is known to the victim,” said Aite Group research director Michael Trilli in a statement. (Photo: Shutterstock)

Insurance-related fraud has impacted close to 30% of Americans, with younger generations more disproportionally affected by the fraud, a new report finds.

The study by the Aite Group comes at a time when cybersecurity is a pressing issue for businesses and follows a period where many security breaches have been reported from major companies, including P&C insurance carriers.

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