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Different kinds of fraud explained by our fraud solicitor
19 Jun 2023

It is never a good day when you or your business is accused of committing fraud.

Business fraud refers to any act of deception or dishonesty carried out in a business or commercial context. In the UK, there are many different types of business fraud, and they can have serious consequences for both individuals and organisations.

So, long story short, if you are accused of fraud, you really need to get legal help!

And at ABV Solicitors, we can help. Our fraud solicitor has expertise in defending all kinds of business fraud and can help you to make sense of and defend against any charges that are put to you. If the case goes to court, we can defend you there too.

But what exactly are the different kinds of fraud under UK law? In this article, our fraud solicitor explores them, so read on to learn more!

Accounting fraud

Accounting fraud is a big one that involves misrepresenting reports to HMRC, and, as such, it is one of the most serious types of fraud that our fraud solicitor can and will defend.

This type of fraud involves manipulating accounting records or financial statements to misrepresent the financial health of a company. It can involve overstating revenue, understating expenses, or hiding losses to make the company appear more profitable than it actually is.

Investment fraud

Ever seen the movie The Wolf of Wall Street?

This type of fraud involves misleading investors by making false or misleading statements about an investment opportunity. It can involve pyramid schemes, Ponzi schemes, or other fraudulent investment schemes.

Tax fraud

This type of fraud involves deliberately under-reporting income or overstating expenses to avoid paying taxes. It can also involve failing to report income earned offshore or using fake receipts to claim deductions.

Insurance fraud

This type of fraud involves making false or exaggerated claims on an insurance policy. It can involve faking injuries, exaggerating the extent of damages, or filing multiple claims for the same incident.

Bribery and corruption

This type of fraud involves offering or receiving bribes or kickbacks to gain an unfair advantage in business dealings. It can involve paying bribes to government officials to secure contracts or receiving kickbacks for awarding contracts to specific vendors.

Cyber fraud

This type of fraud involves using technology to commit fraud, such as phishing scams, ransomware attacks, or identity theft. It can involve stealing personal or financial information from individuals or businesses.

Money laundering

This type of fraud involves disguising the proceeds of illegal activities as legitimate income. It can involve creating fake companies or using legitimate businesses to move money around to make it appear legitimate.

Insider trading

This type of fraud involves using non-public information to buy or sell stocks or securities. As you can see, for obvious reasons, this is extremely serious, as it can involve leaking confidential information about a company’s financial performance or operations to gain an unfair advantage in the stock market.

So, if you are accused of this, you will need to seek immediate advice from our team at ABV Solicitors.

Accused of fraud? Defences that our fraud solicitor may use to represent you

Been accused of bribery or corruption? What you need to do from our fraud solicitor