The Coalition Against Insurance Fraud estimates that insurance fraud steals at least $308.6 billion every year from American consumers. Insurance frauds leading to criminal prosecutions and civil cases will no doubt continue this year and for years to come. The prosecutions and convictions, however, often lag years behind the commission of the frauds and in most cases touch only upon the proverbial “tip of the iceberg.” (Credit: Seth Wenig) The Coalition Against Insurance Fraud estimates that insurance fraud steals at least $308.6 billion every year from American consumers. Insurance fraud leading to criminal prosecutions and civil cases will no doubt continue this year and for years to come. The prosecutions and convictions, however, often lag years behind the commission of the frauds and in most cases touch only upon the proverbial “tip of the iceberg.” (Credit: Seth Wenig)

Lawyers, accountants, other professionals, business people and consumers who are not directly involved in discovering, challenging and litigating insurance fraud matters likely would be shocked to learn about the breadth and prevalence of these schemes.

By the same token, one might think that the number and range of insurance fraud-related indictments, convictions and sentencings in just the Southern District of New York alone over the past year would be enough to warn potential fraudsters to think twice before acting. Yet if history is any guide, we can expect the volume and range of fraud schemes to continue to multiply, along with a steady stream of eye-opening fraud charges being filed throughout the next year in New York and across the country.

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