New tactics—from AI-altered damage photos to coordinated repair scams—are making fraud harder to detect and more costly for everyday drivers and homeowners.
LOS ANGELES, March 24, 2026 /PRNewswire/ — Insurance fraud is no longer limited to staged accidents or exaggerated claims—it’s becoming faster, more sophisticated, and increasingly digital. As fraud schemes evolve, Mercury Insurance (NYSE/NYSE Texas: MCY) is helping consumers understand how these scams work, how they can unknowingly get caught up in them, and what steps to take to protect themselves.
Insurance fraud costs Americans billions each year. According to the Federal Bureau of Investigation, non-health insurance fraud exceeds $40 billion annually, adding an estimated $400 to $700 per year to the average family’s premiums. The Coalition Against Insurance Fraud estimates total insurance fraud across all sectors can reach…
THE TD BANK INSIDER “BRIBE-FOR-DATA” SCHEME (USA)
Date: February 17, 2026 Perpetrator: Edward Low (Former Bank Employee)
Case Description: In a high-profile case of “Insider Threat,” Edward Low, a former employee of TD Bank in New York, pleaded guilty in a New Jersey federal court to accepting bribes in exchange for confidential customer data. Between 2021 and 2022, Low leveraged his internal access to harvest the personal details of high-balance account holders. He then sold this “hot data” to external fraud syndicates for as little as $26,700 in personal kickbacks.
The external fraudsters used the information Low provided to conduct “Account Takeovers” (ATO), creating fraudulent checks and falsifying bank records to drain over $500,000 from unsuspecting customers. Low even went as far as helping co-conspirators open shell company accounts at a second financial institution where he was later employed. He now faces a maximum penalty of 30 years in prison. This case has sent shockwaves through the global banking sector, highlighting that even the most robust external firewalls cannot protect against a “rogue insider” with administrative credentials.
Link to Original: US Dept of Justice – TD Bank Insider Plea