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more_legal_areas consumer_fraudFraud prevention can occur through consumer awareness and precaution, as well as government regulation of industries where fraud may occur. Fraud is a deliberately deceptive act that is committed in order to achieve financial gain at the expense of another. By definition, fraud is considered a white collar crime that is conducted in a business or professional environment in order to illegally procure financial gains.
Fraud prevention is often specific to the type of fraud that has taken place. There are many fraud prevention steps that can be taken against the following types of fraud: credit card fraud, embezzlement, identity theft, insurance, healthcare, government, and securities fraud, and mail telemarketing and internet fraud. Most categories of fraud are broken down into the industries or professions where the fraud took place (i.e. insurance fraud), or the means through which the fraud was carried out (i.e. internet fraud). Many of these categories overlap in terms of fraud prevention measures taken by consumers and the governmental agencies that are responsible for fraud prevention.
Some general fraud prevention measures can be taken by consumers in order to avoid becoming the victims of fraud. When considering offers, promotions, or information provided through mail solicitation, internet email or websites, over the phone or from any other source, it is wise to apply an appropriate level of scrutiny. Never base investment information solely on information provided by an internet source. Fraud prevention also consists of doing sufficient research before making any financial decisions. Information about businesses is often provided by reputable associations and government agencies that protect consumer rights.
Fraud prevention involves the application of scrutiny and caution to every financial pursuit one considers, with special reticence applied to any offer that requires money up front, promises a reward that exceeds the investment, asks for personal information, or that urges you to act immediately without sufficient information.
Several government and regulatory bodies have also been established to provide fraud prevention measures. The Securities and Exchange Commission oversees investment and stock fraud prevention. The Federal Trade Commission protects consumers by investigating fraud and providing information on fraud prevention. There are numerous other fraud prevention organizations whose services can be employed by consumers in fraud prevention measures.
If you have been the victim of fraud, you may be eligible to recover compensation for your losses. A qualified and experienced fraud attorney can advise you of your legal rights and options in a fraud case. For more information on fraud prevention, please contact us to confer with an attorney.
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