Monthly Archives: October 2013

Legal Assistance

Some of the Most Common Types of Fraud Acts

Legal AssistanceFraud is a criminal activity legally defined as an “abuse of position, or false representation, or prejudicing someone’s rights for personal gain.” It comes in many forms, and it can be committed against individuals or business. Victims often fall for these schemes through emails, text messages, phone calls, letters, and social networking sites.  Although they pose serious threatsto any person or company, there are ways to prevent fraud from happening. It may be difficult to detect these cases on your own, so it may help to consult legal experts against fraud.

Here are just some of the most common types among the long list of possible fraud acts:

  • Money Laundering – This involves the process of concealing the original source of ill-gotten money, making it appear to be legitimate. Criminals who are often guilty of this charge are corrupt politicians, drug traffickers, and con artists.
  • Corporate Fraud – This act involves businesses and occurs within an organization by deliberately engaging in dishonest activities to deceive the public. Under this type, there are other classifications such as bankruptcy-related fraud, procurement fraud, mortgage fraud, asset-stripping, and fraudulent trading, among others.
  • Fraud Against an Individual – This type of intentional deception targets a person directly. Some categories include Ponzi schemes, bogus tradesmen fraud, land banking scams, and abuse of position of trust, among others.
  • Insurance Fraud – This occurs when people deceive an insurance company or agent to acquire money to which they are not eligible. This usually happens when a person provides false or misleading information on an application for insurance.

Millions of people fall victim to scams every day. While these criminals may be clever, it is still possible to counter their schemes. If you need a more detailed discussion regarding fraud, visit websites that offer more information or ask for a legal aid’s assistance.

Sources:
http://www.legislation.gov.uk/
http://metro.co.uk/2012/10/09/top-ten-types-fraud-3817034/
http://www.rahmanravelli.co.uk/