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Overview
Fraud is a serious thing. It is stealing from another person or company and can do more than damage your reputation. It can also happen to you and when it does it is no laughing matter. Fraud is a danger to every person who has any information they would not want another person stealing their information. Identity theft has become a very real problem throughout the world. It can ruin your credibility, your credit and your life. It can stop you from getting a job and that home or car you have been wanting for quite some time. Knowledge is power and if you learn about fraud you can help save yourself a world of hurt and frustration when you have a brush with a fraudster. This article will cover some of the basic questions you may have where fraud is concerned and perhaps you can protect yourself.
How is it committed?
It is all about a trust game in most cases. There are some that play on other people's gullibility and others who inadvertently commit fraud through ignorance. You would be surprised at the number of people who get taken in by internet hoaxes, romance scams and winning lottery scams. Some people leave important financial and personal information right out there in the open just waiting for someone to take over their lives.
What is a tort?
Fraud is against the law. Plain and simple it is a criminal law violation but it is also a civil law violation. A tort is a violation of civil laws. Whenever someone misrepresents themselves they have committed a tort. This is not to be confused with a tart. The actual laws of torts vary from state to state and will depend on several different factors such as the type of violation, the intention and whether anyone was harmed.
Are there types of fraud that do not involve money?
Sure there are types of frauds that do not involve money. Granted this does not occur much but there are some examples. Sometimes it is services that are stolen. Other instances could be marriage fraud where a person enters into a marriage without the typical marriage ideals in mind. They may be marrying for social position, for benefits or for whatever reason. Knowingly committing bigamy on an unknowing person is an example of fraud.
What are some notable fraudsters?
One of the most notable fraudsters had a movie written based on his life. He eluded the cops all over the world. Frank Abagnale Jr. was a master con man. He would perpetrate doctors, airline pilots and even lawyers. Some fraudsters have managed to bilk millions out of people. Take for example Martin Frankel who cheated investors, money laundered and assorted other criminal activities in the tune of $208 million dollars.
What is insurance fraud?
Fraud regarding insurance is when the policy owner tries to get money out of his or her insurance company without meeting their specifications. This could be involving arson, death or other instances where they tried to take money that was unlawfully theirs. This can often happen with disability claims. A person claims to be disabled and then the insurance finds out that they are not. The person can face stiff fines and penalties from law personnel.
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