Federal fraud is considered an act of duplicity committed with the intent of benefiting yourself or somebody else.
Some of the most common federal fraud cases seen year after year include:
Wire fraud is classified as the utilization of either the mail or any kind of wire communications to defraud someone else or a company/business out of their money. Telemarketing fraud is one of the most common over the phone occurrences of this kind.
When an individual intentionally underpays their taxes, they commit tax evasion. The IRS has to provide evidence that you purposely did not pay as much as you should have on your tax return in order for you to be charged. Some common examples of tax evasion include: under-reporting how much money you made, lying about the size of your family to take more deductions and inflating the cost of expenses.
If a person reports an exaggerated or incorrect claim for losses or damages that never happened, they could be charged with fraud. Insurance fraud can be classified in one of two ways:
An individual intentionally fabricates an injury, theft, or accident to receive claim money from their insurance company.
When someone stretches the truth on a claim in order to receive the maximum amount they can for an occurrence that did happen but was not as serious as they said it to be.
Identity theft is when someone illegally acquires somebody else’s personal information with the intent of using it for some kind of economic gain. This can include: social security numbers, credit cards, stolen or lost mail, driver’s license ids and more.
Credit Card Fraud:
Credit card fraud can be committed in three different kinds of instances:
1. If someone steals or illegally attains somebody else’s credit card or card numbers and information to sell or use it.
2. If someone knowingly uses their own credit card that is invalidated or expired to make a purchase.
3. If someone selling services/goods is aware that a person they are selling to is using a credit card to complete their purchase that has been stolen or not authorized for their use.