Guard Yourself by Knowing About Different Types of Fraud

Fraud, in wider sense, is any kind of deceitful act to obtain somebody else’s money for personal use or to exploit resources and other things illegally for personal benefits. Fraud can be defined as a crime and violation of civil laws.

Fraud can be of any type; it differs and varies from act to act. In any sphere of social and personal life, any deceitful act to exploit innocent can be called a fraud.

Different Types of Fraud:

In Medical field: Medicine fraud, health care fraud, etc.
In Business field: Cheque fraud, accounting fraud, money fraud, franchise fraud, earn-at-home schemes, bait and switch fraud, etc.
Internet fraud: Fraud mails, fraud online stores, website fraud, credit card fraud, etc.
In the field of Insurance: Life insurance fraud, automobile fraud, health insurance fraud, property insurance fraud, etc.
In social life: Fraud in relations, identity fraud, addresses fraud, fraud training, civil fraud, etc.

So, these are the different types of fraud or fraudulent acts. Let’s talk about these kinds of frauds in some detail. In the field of medicine, a fraud can make you the victim by giving you fake and duplicate medicines. There are many fraud clinics too. A fraud clinic means a clinic run by non-medical professions. Some people make fraud medical degrees and start a clinic; these clinics are just money making rackets without any knowledge of the field of medicine.

In business groups, many kinds of illegal activities happen. Some frauds place ads in the newspaper for a certain item on sale at cheap rates, and when the customer goes to buy it, they make excuses like being sold out and not in store and later manipulate the customer to buy same kind of item at higher prices. This kind of fraud is called bait and switch fraud. There are many other kinds of frauds too, like fake accounts and cheques and many more.

Fraud in the field of internet is the most commonly occurring process. People and different vendors make innocent user their target and allure him to buy many things and pay the bills. On internet, they can ask for personal details and bank account and credit card codes, etc. through mails, chat rooms, etc. After that, they use these data for illegal activities and personal benefits.

Thus, broadly, these are the different frauds that take place generally, and awareness is the key to saving oneself from the same.