“Rising inflation and the current war in Ukraine are two major contributors to an increasing cost of living crisis. The 2023 survey found that if struggling financially, one in four (27%) 18-24-year-olds would think about lying on an insurance application to save money. Insurance fraud to make money is also a growing tactic. The Insurance Fraud Bureau points out that one in five (21%) 18-24-year-olds would consider lying on an insurance claim to make money; this statistic was one in seven (14%) in 2022. If you have a look at the unemployment rates in South Africa, they are very high in the age brackets discussed in the Insurance Fraud Bureau statistics,” says De Klerk.

Source: The North Africa Journal August 30, 2023 13:39 UTC