Romania’s Financial Supervisory Authority - ASF will set up a special department that will supervise and investigate frauds in the insurance sector.

The new institution will include representatives of insurance companies, insurance brokers, and authority representatives. They will have to report their findings to the anti-corruption prosecutors.

The decision for establishing the Insurance Fraud Investigation Bureau - BIFA will likely be made in the following meeting of the Financial Supervisory Authority. The meeting will reunite various stakeholders, including representatives of the Consumers’ Protection Authority.

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