Types of Fraud Crimes

Many people engage in crime to make money. Because of this, fraud is a popular crime. Fraud involves deceit and misrepresentation for personal gain. There is a wide range of crimes that can be classified as fraud. People may defraud government agencies as well as financial institutions.

Fraud is taken seriously because it often crosses state lines, making it a federal crime. Plus, in a fraud scheme, there is often a lot of money at stake — hundreds of thousands or even millions of dollars. Here’s a look at some common fraud crimes.

Identity Theft

This involves stealing someone’s personal information, such as their Social Security number, credit card details, or other identifying information, to commit fraud or other crimes.

Credit Card Fraud

This occurs when someone uses another person’s credit card information without their permission to make unauthorized purchases or withdrawals.

Insurance Fraud

This involves making false claims to an insurance company for the purpose of receiving compensation or benefits a person is not entitled to receive.

Bank Fraud

This encompasses various schemes aimed at defrauding banks or financial institutions, such as check kiting, forging checks, or using false information to obtain loans.

Wire Fraud

This involves using electronic communications, such as email or the internet, to carry out fraudulent schemes, such as phishing scams or business email compromise schemes.

Mail Fraud

Similar to wire fraud, mail fraud involves using the postal system to carry out fraudulent activities, such as sending deceptive advertisements or fraudulent solicitations through the mail.

Healthcare Fraud

This involves making false claims or misrepresenting information to healthcare providers, insurers, or government healthcare programs for the purpose of obtaining healthcare benefits or payments.

Mortgage Fraud

This includes various schemes aimed at defrauding lenders or borrowers in the mortgage lending process, such as providing false information on mortgage applications or engaging in property flipping schemes.

Tax Fraud

This involves intentionally falsifying information on tax returns or failing to report income to evade taxes.

Cashier’s Check Fraud

This is a common employment scam in which scammers give job applicants a fraudulent cashier’s check to pay for equipment. It is difficult to detect fraudulent cashier’s checks. When a person deposits a fraudulent check into a bank account, the law requires the bank to make the funds available within a specific period of time even if the check has not yet been cleared through the banking system.

Charity Fraud

This occurs when individuals or organizations misrepresent the nature or purpose of charitable activities to solicit donations from the public for personal gain or to fund illegal activities.

Contact Us Today

Fraud crimes are not usually violent, but they involve someone else’s money, which can be a frustrating and emotional situation for victims. These crimes are often charged at the federal level, which means penalties can be very harsh.

Get the help you need from an experienced Florida criminal defense lawyer from Linkhorst Law Firm, P.A. Contact us today to learn more about your legal options. Schedule a consultation today by filling out the online form or calling 561-626-8880.

Source:

occ.gov/topics/consumers-and-communities/consumer-protection/fraud-resources/types-of-consumer-fraud.html