What You Have Been Dying To Know About Fraud

By:Robert Thatcher

Since the inception of the information technology and the technological advancement of the marketing industry, many people are engaging into fraudulent activities. This is because they are able to gain financial gains and advantages to people through easier and faster means.

For this reason, authorities had been trying to suppress the growing trend of various frauds that are currently affecting thousands, if not millions of people.

Basically, fraud is a kind of trickery that is used for the individual’s benefits, mostly on the financial aspect. These kinds of frauds are absolutely punishable by law, though, its implementation and intensity may vary from one place to another.

In Criminal Law

In the context of criminal law, a fraud is absolutely punishable under certain circumstances that will constitute the deception of a certain individual from which personal gain of the fraudulent person is achieved.

Some of the common frauds that are abhorred by the law are:

1. False advertising

This refers to the achievement of some personal gains of the person concerned by give the wrong impression about a particular service, product, or a business. This can be executed by providing deceptive information projected in unreliable forms of advertisements.

2. Identity theft

In the credit card industry, identity theft is the common type of fraud. This is when the identity of the credit card user is stolen for the personal benefit of the person who wants to gain some financial access to the user’s finances.

There are instances that the criminal may use the identity of the credit card user to make some purchases, in which, the victim’s credit card is used. In turn, the victim will receive billing statements containing such purchases that he or she did not personally created.

There are also some cases wherein the identity of the victim is used to create some crimes, in which, after establishing such acts, they contact the person and blackmail him by asking some money in exchange of eliminating any criminal acts that were constituted through his name.

3. Forgery

This is also one type of frauds where the documents are obtained and processed with the purpose of using them to deceive other people or institution.

In this process, the person who ant to deceive other people will obtain documents that are fake, reproduced, replicas, or explicit reproductions of the original material. There are also some documents that may be originally done but the signatures that should have signified the authenticity of the document is forged.

The very concept of this kind of fraud is to modify an object to suit the personal gains of the offender.

4. False billing

This refers to the fraudulent undertaking of charging or creating billing statements to a particular person or an institution. Here, the criminals will extract money from these people, in which, the concerned person will think that it is part of his or her subscription on a certain company.

In this way, people may be deceived that they have been issued some renewal of their subscriptions, for example, but in reality, the true owner of such establishment that issues subscriptions are not aware of it.

5. Insurance claims

These refers to the act of deceiving the insurance provider under the guise of claiming the due claims and benefits.

For instance, there are some people who create “fake deaths” in order to claim the insurance benefits provided by the individual’s insurance provider.

These are just some of the many examples of frauds. All of which are punishable under the law.

Hence, if you think that you have been victimized based on the examples given, it is best to take some actions properly, otherwise, you will be left hanging on the brink of disaster.

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Article Source: http://www.articles2k.com

Robert Thatcher is a freelance publisher based in Cupertino, California. He publishes articles and reports in various ezines and provides fraud prevention resources on www.allaboutfraud.info.

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