Half (49%) of young drivers have bought insurance through social media or messaging apps, new research reveals. With 4 in 10 (39%) unconfident in spotting the signs of a fake policy, thousands could be paying for cover that doesn’t exist.
The FCA is warning 17-to 25-year-old drivers about 'ghost broking' scams where criminals sell bogus insurance policies through social media and messaging platfor...
The narrative of ghost broking leverages a confluence of systemic pressures: financial vulnerability and the ease of digital transaction. The appeal of "cheap offers" directly exploits the pressure of cost of living, turning budgetary constraints into a vulnerability that scammers exploit. This is an example of emotional exploitation, weaponizing fear of financial insecurity to bypass rational decision-making regarding a critical necessity like insurance. The system is layered: financial crime (...
