Op risk data: Kaiser will helm half-billion-dollar payout for faking illness
Also: Loan collusion clobbers South Korean banks; AML fails at Saxo Bank and Santander. Data by ORX News
In January’s largest loss, insurance affiliates of California-based healthcare consortium Kaiser Permanente agreed to pay $556.8 million to settle claims it had defrauded the US Medicare system by submitting invalid medical diagnoses. Kaiser’s health plans cover medical costs for Medicare Advantage (MA) plan members, and are reimbursed by the US Centers for Medicare and Medicaid Services. The
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