Types Of Criminal Fraud (Explained)

When facing charges, it helps to make sure that you understand exactly what you did wrong. It may sound like your criminal charges are relatively clear, but fraud can encompass a wide variety of subtexts. You should know and fully understand the different types of criminal fraud so you can begin to mount the proper defense for yourself. Here are the most common types of criminal fraud explained: 

Bribery

You are probably already familiar with the concept of bribery. It is often used in order to make small children behave. Bribery is the act of accepting or offering something to another person in exchange for something that matters to you. This might mean that they exert their power or use their social status to manipulate a certain situation in your favour. 

Embezzlement

When you have been placed in charge of someone’s assets or a company’s assets, you might find yourself tempted to steal that money or property. This is more commonly referred to as embezzlement. It often happens in companies where one person is left in charge of the overall finances. 

Identity Theft

This is one of the most serious types of criminal fraud. It occurs when someone unlawfully impersonates another person using their personal information like a social insurance number or a credit card. You might impersonate someone else to steal their bank account information, purchase expensive vacations, or for entirely other reasons. No matter what you do with their information, it is illegal and is taken very seriously. 

Money Laundering

Money laundering can be a relatively complicated scheme. It involves moving illicit money and other assets into certain channels to disguise where the money is actually coming from. You may also be accused of money laundering if you use these channels to avoid paying taxes on money and hide it from government officials. This can lead to tax evasion charges in some circumstances. 

Mortgage Fraud

If you misrepresent yourself or your documents to defraud a lender, then you may be accused of mortgage fraud. This may also apply if you attempt to use these documents to deceive the homeowner. There are many different ways that mortgage fraud can play out depending on what documents are used and what promises are made. 

Tax Evasion or Fraud

Tax evasion and fraud are serious offenses that come with serious consequences. These occur when someone attempts to avoid paying their share of provincial or federal taxes. The consequences could require asset forfeiture or time spent in prison. 

Facing Your Charges

All of these different types of fraud come with some pretty harsh consequences. If you stand accused of any of these crimes, then you are going to need a top-notch lawyer for fraud offenses. Brodsky, Amy & Gould can give you the proper defense that you need to minimize your sentence and get the best possible outcome. Instead of sweating it, allow us to take on your case, knowing you’re in great hands.