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Types of fraud from our fraud solicitor
24 Jan 2022

In the UK, there has been a rise in cases of fraud.

This is due in part to the COVID pandemic and the rise in other aspects of money management such as mobile banking and other online transactions.

But what do you do when you are the head of a company and you, the company or a member of your staff are accused of committing any kind of fraud?

At ABV Solicitors, our fraud solicitor understands that anyone can find themselves facing this very serious accusation. If you or your company are accused of fraud, our team will work their hardest to ensure that your rights are represented and will aim to have any charges dropped.

Here, our fraud solicitor provides a brief look at the most common types of fraud in the UK.

Money laundering

One of the most well-known of all frauds is that of money laundering.

But what actually is it? According to our fraud solicitor, money laundering involves concealing the proceeds of criminal activity as legitimate.

So, for instance, if someone were to make money selling drugs but were to then claim that the money was invested into their company, this would be an example of money laundering. As this carries a sentence of around 14 years in prison and can damage a company’s reputation, if your company or any member of your staff is accused of money laundering, you need to contact our team for legal advice.

Credit card fraud

While many people know about credit card fraud, there is also a similar type of fraud known as debit card fraud.

In essence, these involve taking out credit cards or debit cards in someone else’s name to run up debt and, in some instances, can include withdrawing money from an account without permission.

This can be devastating to a company or an individual, so if you or anyone on your staff has been accused of this, you need to seek legal advice as soon as possible from ABV Solicitors.

Mortgage fraud

Slightly trickier to pull off but still quite common is mortgage fraud.

This entails falsifying income amounts when applying for a mortgage or lying about the price of a house in order to obtain more money from a mortgage lender.

It is important to be 100% honest when applying for a mortgage and even a small white lie can still count as mortgage fraud.

If you have been accused of mortgage fraud, or have concerns about filling out a mortgage application and need help with the wording, please contact us.

Internet, telephone or mobile banking fraud

These 3 have been grouped together as they all involve the same thing but are committed using different methods. They revolve around getting access to someone’s debit or credit card details and then racking up charges on them using false information about investments or other financial opportunities. This also includes areas such as phishing emails, phone calls and text messages trying to gain access to accounts.

If you have any questions about fraud or have been accused of fraud, please call our team today for legal advice.

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