What is fraud?

On Behalf of | Sep 1, 2023 | Criminal Defense

The Florida Chief Financial Officer created Fraud Free Florida to help end fraud in the state by amping up investigations and making it easier to report incidents. This initiative was much-needed due to a serious issue with fraudulent activities increasing in the state.

Fraud involves activities that attempt to mislead or deceive people into believing a false assertion. There are various types of fraudulent situations, but they all seek to get personal gain for the perpetrator at the expense of the target.

Tactics targeting one person

Some types of fraud target individuals and occur all the time as scammers have to look for someone who will let their guard down. One example is identity theft, which is unlawfully using someone’s personal information and assuming their identity to make financial transactions. Another common issue is credit card fraud, which is making unauthorized charges on another person’s card. Phishing is another example. It involves tricking individuals into revealing sensitive data, such as passwords, via fake emails or websites.

Large-scale scams

Larger-scale fraud scams include Ponzi schemes that lure investors by using funds from new investors to pay earlier backers, creating a false appearance of profit. It also includes schemes such as sending out fake lottery tickets in the mail. When a person tries to cash in, the scammer will attempt to get bank account information through fraudulent means.

Other types of fraud

Fraud can also include making false statements in a bankruptcy filing or fake car warranty scams that seek to steal money from unsuspecting people who pay and get a useless “warranty” in return.

Fraud is rampant because it can happen in so many different situations. Avoiding fraud requires remaining vigilant and aware.

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