It's given me an interesting idea.

If we know the bank will refund through insurance than there's a second level fraud where the victim is in on it for a cut of the profits.

Essentially the theatrics of fraud is done and then victim is refunded by the bank and then secretly compensated by the "fraudster" for their participation.

I may be convinced of that kind of scam. Everyone wants to feel like they're outsmarting the system. There's so many unknowns. Will I get the partial compensation? Will the bank reimburse me? I don't know, but I can see myself doing it. That's a problem