Fraud and Financial Crimes
Fraud and financial crimes are a form of theft/larceny that occur when a person or entity takes money or property, or uses them in an illicit manner, with the intent to gain a benefit from it. These crimes typically involve some form of deceit, subterfuge or the abuse of a position of trust, which distinguishes them from common theft or robbery. In today's complex economy, fraud and financial crimes can take many forms. The resources below will introduce you to the more common forms of financial crimes, such as forgery, credit card fraud, embezzlement and money laundering.
- Bribery
Brief explanation of bribery, which is the act of accepting or offering something of value in exchange for influence or power in connection to an elected position or public employment.
- Fraud
In-depth information about fraud in general and definitions of the various types of fraud – such as wire fraud; tax evasion; insurance fraud; and identity theft – plus tips for identifying fraudulent activity.
- Embezzlement
Overview of embezzlement, a crime that occurs when an individual steals money or property that he or she has been entrusted to manage, with links to FindLaw's theft and larceny subsection.
- Identity Theft
Brief definition of identity theft, which occurs when someone unlawfully uses another's personally identifying information (such as a Social Security Number) to commit other crimes, such as credit card fraud.
- Money Laundering
Definition of money laundering, a crime involving the movement of illicit money and other gains into legitimate channels in order to disguise the money's illegal source and thwart tax officials.
- Mortgage Fraud
Explanation of the various different illegal schemes related to the misrepresentation or misstatement of mortgage documents for the purpose of defrauding another party, such as a lender or a homeowner.
- Racketeering / RICO
Overview of federal and state racketeering and RICO (Racketeer-Influenced and Corrupt Organization) laws, which make it a crime for a criminal organization to profit from otherwise legitimate business operations.
- Securities Fraud
Definition of securities fraud, a crime in which a corporate officer, for example, makes misleading statements about the company’s stock performance or discloses confidential information related to its stock.
- Tax Evasion / Fraud
Brief overview of tax evasion, the crime of not paying one’s legally required share of either federal or state taxes, which is punished severely and can lead to asset forfeiture or prison.
- White Collar Crimes
So-called “white-collar crimes” encompass many separate individual crimes, most commonly related to the use of deceit for financial gains, such as Ponzi schemes; securities fraud; tax evasion; and embezzlement.