Woman arrested for large-scale fake insurance scam in Tenerife
A 40-year-old woman has been arrested in Santa Cruz de Tenerife after allegedly masterminding a large-scale insurance scam that defrauded dozens of residents across the island. The National Police say the suspect posed as a legitimate insurance broker, fabricating false policies and pocketing the payments, while victims were left believing they were fully covered.
Many only discovered the truth when they tried to make a claim, only to find their supposed policies didn’t exist. The investigation began in September after a flood of complaints from people across the island who had been sold bogus policies for health, life, and car insurance.
Detectives soon uncovered a sophisticated operation in which the woman forged documents and even altered real ones to give them an air of authenticity.
Police found that some contracts had been registered and cancelled within days, sometimes even on the same date, with falsified payment details. In total, at least 50 people have been identified as victims so far, and officers believe the real number could be far higher.
Investigators say the woman had previously worked in the insurance sector and used her experience and reputation to gain the trust of clients. She then directed payments for the fake policies straight to her own accounts via Bizum or bank transfer.
When officers raided her home, they seized computers and mobile phones believed to contain evidence of the scam. Ten of her bank accounts have been frozen to help recover money for the victims, with losses already estimated at more than €20,000.
The police operation remains open as investigators continue to trace the flow of money and identify new victims. Authorities have warned the public to be cautious when taking out insurance and to always verify that agents and companies are officially registered.
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