The Merriam-Webster dictionary defines “fraud” as:
- the crime of using dishonest methods to take something valuable from another person
- a person who pretends to be what he or she is not in order to trick people
- a copy of something that is meant to look like the real thing in order to trick people
- Insurance Fraud – When insurance companies suffer financial loss due to fraud, they generally compensate by raising costs for every one of their customers.
- Mortgage Fraud – Mortgage companies who have been victimized by fraud may not be willing/able to provide large loan amounts. If mortgage companies will only authorize smaller loans, property values may decrease.
- Identity Fraud – If someone steals your credit card information to make unauthorized purchases, the credit card company will typically reimburse you and take the loss upon themselves. They make up for this loss by increasing their interest rates and enforcing stricter regulations.
- Online Fraud – There are various types of online fraud that can have far-reaching socioeconomic effects for individuals all across the States, including:
- loss of retirement
- higher rates on needed services
- associated emotional/psychological burdens
If, conversely, you are facing criminal accusations for fraudulent activity, our criminal defense attorneys in Lebanon MO will be able to defend your rights and ensure you receive fair and just treatment. Contact us for more information.
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