The 4 Most Unanswered Questions about Businesses

Jeffrey Benjamin: Understanding Fraud Law and How to Determine a Fraudulent Intent

What is the coverage of fraud law? Fraud law covers civil torts and crimes addressing the different situations wherein a person wrongfully acquires property, money, or other benefits through deceit. Fraud is charged as a felony in the criminal context, wherein incarceration for a year or more can be a result of the conviction. There are different criminal penalties of fraud including statutory fines, loss of civil rights, community service, and victim reimbursement or restitution. Fraud or fraudulent intent is hard to prove, ever for prosecutors and government investigating agencies. Financial records help in proving the victim’s loss. The actions of the defendant may also obviously caused the loss of the victim. What is hard to prove is the intention of the defendant to commit fraud.

There is a substantial percentage of convictions involving fraud in the United States every day. The most common types of convictions involving fraud are credit card and check fraud. Although there is a misconception that an intention to bounce a check is more or less tolerated by the law enforcement, repeated offenders may result in significant jail period. Credit card fraud refers to the use of someone else’s credit card without his or her permission. The person who commits the credit card fraud may have stolen the credit card, or obtained through phishing or gas pump someone else’s account number through different online platforms. The account is then used to remove money from the ATM or to purchase products and services. Aside from credit card and check offenses, financial fraud can also come in the form of money laundering, counterfeiting, investments schemes, prize or sweepstakes fraud, foreclosure and mortgage scams, and more. The examples of non-financial fraud include overseas romance schemes to gain immigration benefits and identity theft.

Criminals doing fraudulent transactions are often not caught because they tend to change tactics and innovate methods of committing fraud or scams. It is important to hire a lawyer to protect your rights and best interests because fraud victims need to ensure that criminals are sentenced and full restitution must be paid. Due to prosecutorial errors, a defendant may go unpunished even if there is overwhelming evidence, so hire the best lawyer to help you. If you are looking for a lawyer to help you with a fraud case, allow us to help you out, feel free to visit our website or homepage now. Recover from your losses by seeking the help and expertise of a lawyer. If you are suspecting fraudulent transactions of activities, report it to the authorities, gain as many pieces of evidence possible and seek the help of an expert lawyer. Equip yourself with the right knowledge and stop fraud.