UK finance regulator warns of 'ghost broker' scams targeting young drivers: 'Too good to be true'
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Young drivers have been warned over a growing wave of "ghost broker" scams, with fraudsters selling fake car insurance policies through social media and messaging apps.
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Research from the UK regulator, Financial Conduct Authority, has suggested that almost half of drivers aged between 17 and 25 have bought insurance through social media platforms, despite the increasing risk of fraud.
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In many cases, the insurance is either fake, cancelled shortly after purchase, or invalid because false details have been used to lower the premium.
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TRENDING Stories Videos Your Say Victims often only discover the policy is worthless after being stopped by police or attempting to make a claim.Drivers caught without valid insurance could face fines, penalty points, driving bans and even criminal convictions.Car insurance experts at Quotezone have now issued urgent advice to help motorists...
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