Fraud Detection

Fraud detection can be carried out by a number of different parties including consumers, business owners, and government agencies. Fraud is a white collar crime where one faction deliberately deceives another in order to achieve financial gain. Victims who are unable to benefit from early fraud detection may incur losses as a result of fraudulent acts.

Fraudulent acts can occur in any business or professional environment via interpersonal contact, the internet, email, the telephone, mail or any other written or verbal correspondence. Fraud detection must be employed at all levels of professional conduct from consumers to governing bodies in order to prevent fraudulent crimes and deter potential criminals.

Fraud detection can happen on the consumer level by taking a number of precautionary measures and applying a reasonable level of scrutiny and caution to all business endeavors that involve consumer spending or investment. Fraud detection can involve becoming aware of any unusual activity that may occur within business dealings. Fraud detection may also involve recognizing some of the major signs of a fraudulent offer or incentive; such as those who require money or personal information up front, those that offer low risks if you act fast, those that require you to recruit others into the deal (pyramid schemes), those that offer you rewards that exceed your investment (or sound too good to be true), and those that involve companies that have not proven to be reputable. Fraud detection can also involve research that may reveal a company''s or individual''s illegitimacy or fraudulent schemes.

Fraud detection also occurs on the professional level as employers and business owners protect themselves and their clients from fraudulent acts. Approximately six percent of all organizations'' revenue is lost to fraud each year. Though this may not seem like a lot, this figure translates into 600 billion dollars in lost revenue every year. There are products and services that help businesses with fraud detection. The best fraud detection is often common sense and awareness of any suspicious behavior or activity that may indicate fraud.

Government agencies and other regulatory bodies are also involved in fraud detection. Numerous organizations are responsible for investigating and tracking fraudulent activity, and often attempt to succeed through fraud detection measures that prevent further crime and victim loss.

If you have been the victim of fraud you may wish to speak with an attorney who can advise you of your legal rights and options in a case to recover your losses. For more information on fraud detection, please contact us to confer with a qualified attorney.

Consumer Fraud Breaking News

"1,800 Reports of Fraud Related to the Hannaford Bros. Breach"

A lawsuit has been filed against an Albany supermarket chain over a data security breach that exposed over 4 million credit and debit card users. The lawsuit is seeking class action status.

Three Month Breach<...

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"Class Action Suit Settled for $23 Million"

The maker of the popular herbal supplement Airborne has agreed to settle a class action consumer fraud lawsuit for $23 million, according to the nonprofit advocacy group the Cent...

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"Dannon's Claims About Yogurt Are Unsubstantiated"

Dannon Co. is being targeted in a proposed class action lawsuit over claims it misled the public about the health benefits of its “probiotic” yogurts.

Company Boasts Benefits, Charges More

According to the ...

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Fraud Detection

Consumer Fraud Breaking News

"1,800 Reports of Fraud Related to the Hannaford Bros. Breach"

"Class Action Suit Settled for $23 Million"

"Dannon's Claims About Yogurt Are Unsubstantiated"

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