South Korea insurance fraud claims rise 9.1% in first half

Insurance fraud in South Korea increased 9.1% in the first half of the year compared with the same period a year earlier. The Financial Supervisory Service (FSS) said scammers obtained 620 billion won (US$455 million) through wrongful claims from January to June, up 51.8 billion won year on year.

The watchdog said insurance fraud has been rising steadily. Losses reached a record 1.16 trillion won in 2025, compared with 1.08 trillion won in 2022.

The number of suspects involved in insurance fraud cases rose 5.6% from a year earlier to about 53,865, according to the FSS.

The regulator said it would step up efforts to curb fraudulent claims in cooperation with other agencies, including the police.