Security & Fraud Protection

Fraud takes place when a person deliberately practices deception in order to gain something unlawfully or unfairly. In most states, the act of fraud can be classified as either a civil or a criminal wrong. While fraud is most commonly committed to obtain benefits of value, it sometimes occurs solely for the purpose of deceiving another person or entity. For instance, if a person makes false statements, it may be considered fraud, depending on the circumstances.

So, what is fraud?

There are a number of ways to commit fraud, some of the most commonly committed types of fraud include:

  1. Check Fraud. Check fraud occurs when a person pays for something with a check knowing that there is not enough money in the account to cover the cost, or when an individual forges a check stolen from someone else.
  2. Internet sales. Internet frauds are becoming more prevalent since the world relies heavily on technology. This type of fraud involves selling fake or counterfeit items, or taking payment with no intention to ship or deliver the item.
  3. Website misdirection. This occurs when hackers mimic reputable companies such as Amazon, eBay, or PayPal, redirecting consumers to another website where they enter their credit card information. The criminal then use this information to make personal purchases.
  4. Charities fraud. For many years, criminals have taken advantage of the fact that Americans generously give to worthy causes. Criminals solicit people to make donations to various causes that do not actually exist.
  5. Work-from-home scams. Working from home sounds like a dream to many people, so it is not surprising that a number of Americans fall for this type of fraud each year. Criminals promise income to people who sign up for their fictitious work-from-home job, often requiring that money be paid up front with the promise of a big payoff in a short amount of time.
  6. Pyramid schemes. These work-from-home type schemes promise the consumer large returns on their investment if they are able to recruit others to their network. People often pay money up front to buy into the business, or to buy a sales package of some type, and only make money if they get a large number of people to join beneath them.
  7. Identity theft. One of the most commonly perpetrated types of fraud in this age, identity theft robs victims of their money, credit rating, and personal identity. Fraudsters obtain credit card, bank account, and other personal information, using them for personal gain.
  8. Credit card fraud. In today's climate of electronic money, credit card fraud has become a prevalent crime. By obtaining people's credit card information, through a variety of means, the perpetrator can quickly make a large amount of purchases before the consumer even realizes what is happening. Credit card fraud is classified as identity theft, identity assumption, or a fraud spree, depending on the specifics of the crime.
  9. Debt elimination. Many Americas find themselves deeply in debt, making it easy for criminals to offer them an opportunity to climb out from under a mountain of bills. Fake companies produce ads and other solicitations promising to help eliminate every type of debt, from credit card bills to taxes, for a partial payment up front. The victim fronts the payment as well as their credit card information, getting nothing in return, and often having their information sold to other fraudsters.
  10. Insurance fraud. Insurance fraud is committed every day in the U.S., by people who otherwise would not consider themselves to be criminals. False or inflated insurance claims for automobile damages, health care expenses, and homeowners or renters insurance are considered to be insurance fraud, and may be charged as felonies, depending on the circumstances and amount of the fraud.

Contact Allen Consultants today for a forensic review of your business to see if you are the victim of any fraudulent activity.

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