What is fraud and why it is on the increase?

There are many different types of fraudulent activity that involves dishonest actions that are carried out for monetary gain at the disadvantage of another person, business or organisation. Fraud is a criminal offence and it can be penalised very heavily in the crown court depending on the nature of the crime and the implications that it has for the victim. In serious cases, a fraud offence can result in life imprisonment. In the last tax year ending March 2021, here in the UK, 4.6 million offences were carried out which was 24% higher than the previous year. Desperate times and financial difficulties during the pandemic have led people to carry out more fraudulent activity than ever before. Whether you have been a victim of a fraud crime or you have been accused of fraudulent activity, this may be a false accusation, a mistake on your behalf or you are guilty of fraud crime, whichever situation you have found yourself in it is important that you contact an experienced and specialised fraud solicitor immediately.

If you are a victim of fraud crime then it is vital that you report the incident as soon as possible and seek the help of your solicitor to not only prevent further loss than you may have already experienced but also to help other people from falling into similar situations and being taken advantage of. It is also important to report fraudulent activity to stop perpetrators from being able to continue with their dishonest actions.

Cybercrime and identity theft

Advances in information technology have their benefits and advantages however it has also led to a significant increase in cybercrime. Cybercrime has become one of the most common types of fraud where people are using the Internet to commit fraud crimes. This involves stealing people’s personal information such as names, addresses, contact details, bank account details and other important information which are later used in committing many different types of fraudulent activity. This is known as identity theft and the perpetrator may use your information to pose as yourself and carry out financial transactions or other activity which results in monetary gain for themselves and financial loss for you.

If you feel that you may have been a victim of identity theft then it is important that you contact the police or necessary authorities immediately. You should also contact your solicitor to prevent further losses or difficulties which you may find yourself in if the perpetrator carries out illegal activities in your name. It is important that when sharing your information online you are aware of who you are sending your information to, that they are legitimate and that it is safe for you to do so. By being more careful and more aware of who you share your information with you will be able to prevent issues such as identity theft and other fraudulent activity from being as easy as it has become and hopefully combat such cases in the future.