Skip to main content

Introduction to laws of fraud

 A brief introduction into the concept of frauds, types of fraud,  laws relating to it and recourses available to frauds

Fraud is a broad term that refers to acts intended to swindle someone. In essence, it's the use of intentional deception for monetary or personal gain.

Thousands of people each year fall victim to it. Fraud always includes a false statement, misrepresentation or deceitful conduct. The purpose is to gain something of value, usually money, by misleading or deceiving someone into believing something that the perpetrator knows to be false.

Fraud is covered by both criminal and civil laws. The most obvious difference has to do with who files the legal case. Only government prosecutors can bring criminal charges, but a victim of fraud can file a civil lawsuit. Sometimes a person who commits fraud is both criminally prosecuted and sued in a civil action.

In the criminal context, fraud must be proved "beyond a reasonable doubt." If convicted of the crime, a defendant may be sentenced to jail or probation and fines.

In private civil lawsuits, the standard of proof is lower and punishment is often restitution (i.e., return of the victim's money) and monetary damages. When regulators such as the Federal Trade Commission or Securities and Exchange Commission file civil lawsuits against unscrupulous businesses, they frequently seek injunctions, restitution to victims and monetary penalties.

While the exact wording of fraud laws varies, the main elements usually are:

  • a purposeful misrepresentation of an important ("material") fact;

  • with knowledge that it is false;

  • to a victim who justifiably relies on the misrepresentation; and

  • who suffers actual loss as a result.

Common varieties of fraud offenses include:

Of course, be wary if anyone unfamiliar asks for the digits of your social security number or previous address, because that can be used for identity theft. Don't click on hyperlinks in an email message unless you're sure you know who sent it. Be alert if you lose your credit or debit card and suspect that it might be stolen or misused. Any time you receive promises from an unknown person or company that seem "too good to be true," that's a potential warning sign of a hidden scam Any person, business or entity can be targeted by fraud. Often, victims experience a range of emotions, including anger and a sense of betrayal, shame or guilt, and frustration or anxiety over the loss of money or something else of value. Some despondent victims are reluctant to report the crime because they're embarrassed and incorrectly blame themselves for what happened. The con artist will continue to prey on others if they are silent.

If you feel you've been defrauded, be sure to speak with a consumer protection lawyer who is familiar with the fraud laws in your state. Likewise, if you've been accused of the crime of fraud, reach out to a criminal defense attorney near you to protect your legal rights


Popular posts from this blog

INCOME TAX SECTION 32AD - Investment in new plant or machinery in notified backward areas in certain States

 Description (1) Where an assessee, sets up an undertaking or enterprise for manufacture or production of any article or thing, on or after the 1st day of April, 2015 in any backward area notified by the Central Government in this behalf, in the State of Andhra Pradesh or in the State of Bihar or in the State of Telangana or in the State of West Bengal, and acquires and installs any new asset for the purposes of the said undertaking or enterprise during the period beginning on the 1st day of April, 2015 and ending before the 1st day of April, 2020 in the said backward area, then, there shall be allowed a deduction of a sum equal to fifteen per cent of the actual cost of such new asset for the assessment year relevant to the previous year in which such new asset is installed. (2) If any new asset acquired and installed by the assessee is sold or otherwise transferred, except in connection with the amalgamation or demerger or re-organisation of business referred to in clause (xiii)or cla

60 Minute Marriage Counselling Session On Phone

Description A 60 minute phone call with an expert Marriage\Relationship Counselor to discuss your marriage\relationship related issues. Counselling aims to resolve issues and improve communication in a relationship. Couples’ counselling works with both people in the relationship, however sessions can start with one individual, working towards the involvement of the other partner. What's Included a) 60 minute phone call with the counselor where you can discuss all your issues and seek guidance. What's Not Included a) Counselling session via meeting

Send Legal Notice for Divorce

 India being a secular country derives a large part of its laws from various religious practices. One such area of law is Divorce law of India. A divorce case in India can be initiated by either party based on the procedure relevant as per the law applicable to the parties. However, the procedure for divorce always starts with sending a legal notice.   Either party can send a legal notice to the other spouse intimating his/her intent to initiate legal proceedings for divorce. Sending a legal notice acts as a formal way of communication by one party to the other acting as a warning and at the same time creating chances for a last attempt for conciliation, if possible. Connect with an expert lawyer for your legal issue   What is a legal notice for divorce? A legal notice refers to a formal communication to a person or the opposite party in a case, informing him/her about one’s intention to undertake legal proceedings against him/her. Therefore, a legal notice for divorce is a formal inti