Young drivers targeted by 'ghost brokers' selling fake car insurance online
Young drivers are increasingly falling victim to 'ghost brokers' who sell fake car insurance online, according to the Financial Conduct Authority (FCA). Many young drivers, attracted by low prices, may unknowingly drive without valid insurance, risking prosecution. The FCA is collaborating with social media influencers to raise awareness about this growing issue.
- ▪Half of drivers aged 16-25 have purchased insurance policies through social media or messaging apps, many of which are fake.
- ▪Driving without valid insurance is a criminal offence in the UK, and victims may face fines or have their cars seized.
- ▪The FCA is working with social media influencers to warn young drivers about the risks of ghost broking.
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Young drivers targeted by 'ghost brokers' selling fake car insurance onlineJust nowShareSaveAdd as preferred on GoogleEmer MoreauBusiness reporterGetty ImagesHalf of drivers aged 16-25 have bought policies through social media or messaging apps, the finance watchdog saysYoung drivers are being targeted by "ghost brokers" selling fake car insurance online, the finance watchdog has warned.Half of drivers aged 16-25 have bought policies through social media or messaging apps, many of which are fake, research from the Financial Conduct Authority (FCA) suggested.Some victims are unknowingly driving without insurance, meaning they could be prosecuted, fined or have their car seized, the FCA said.Often the "policies" are suspiciously cheap, but many young drivers stretched by cost of living…
Excerpt limited to ~120 words for fair-use compliance. The full article is at BBC News — Business.
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