A DUMPED vehicle has been pulled from the bottom of the Georges River and a Bankstown office raided as part of an investigation into compulsory third-party, or green slip, insurance scams.
Detectives from the State Crime Command's Fraud and Cybercrime Squad established Strike Force Ravens to investigate criminal syndicates targeting the CTP insurance scheme in August 2016.
Strike force detectives issued search warrants at offices in Bankstown and Auburn last Wednesday, seizing documents and electronic storage devices for forensic examination, before police divers pulled a vehicle from the Georges River at Floyd's Bay Boat Ramp, Lansvale, the following day.
NSW Minister for Finance, Victor Dominello said Green Slip fraud was costing all motorists through higher premiums.
"Make no mistake; this isn't just a fraud against insurance companies," he said. This is a fraud against every motorist that pays a green slip.
"Every NSW motorist is paying a higher Green Slip premium because of this illegal behaviour."
Fraud and Cybercrime Squad Commander, Detective Superintendent Arthur Katsogiannis, said investigators believe a sophisticated syndicate is targeting the CTP scheme.
"Our inquiries have revealed similar inconsistencies in hundreds of claims, which we suspect is the work of an organised group," he said. "Fraudulent claims cost the scheme millions of dollars every year, which is funded by premiums paid by law-abiding vehicle owners."