The Insurance Fraud Bureau of Australia (IFBA) is a working element of the Insurance Council of Australia (ICA), established to help combat insurance fraud in all of its forms.
The specific mandate of IFBA is to execute information collection, sharing and analysis of insurance fraud information that facilitates insurance company (members of the ICA) action against insurance fraud, informs community decision making and law enforcement investigations activity; to reduce the incidence and impact of insurance fraud on honest policyholders. In other words, IFBA exists to help stop individuals committing insurance fraud so that the costs are not passed onto those in the community who do the right thing.
To do this IFBA:
- Provides a business hours hotline service for community members to report suspected insurance fraud (1300 600 444)
- Provides a law enforcement inquiry service to facilitate police investigations where insurance fraud may be a factor
- Coordinates information exchange between insurers where a criminal act is reasonably believed to have occurred
- Participates in community and government forums focussed on crime prevention