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Industries that see a significant amount of fraud

On Behalf of | Feb 10, 2022 | Criminal Defense |

Fraud is a concern in many different industries and professions. You never know when someone might try to manipulate or trick you for financial gain. However, there are certain industries with a stronger association with fraud than others.

If you work in any of the three industries below, keeping a close eye on fraud trends in your profession could help you avoid getting caught up in someone else’s unscrupulous behavior.

Finance and investments

Professionals in the financial world sometimes exaggerate in order to get the resources they need to close a deal. Occasionally, they may cross that fine line between convincing rhetoric and outright lying.

Those who lie to convince others to invest could potentially find themselves facing investment fraud charges.

Real estate and mortgages

Examples of mortgage fraud range from buyers making offers on properties that don’t exist to mortgage brokers pressuring appraisers to inflate the price of a property. Real estate fraud can lead to big losses for homeowners or for lenders, as well as criminal charges for those who participated in the fraud.

Healthcare

A surprising number of people think patients are the biggest source of fraud losses in the modern healthcare industry. However, it is the professionals working in medicine or billing for healthcare providers who commit the most expensive forms of medical fraud.

Billing insurance for services not rendered or charging patients more than they should are among the numerous forms of healthcare fraud that affect everyone’s insurance costs and sometimes the public coffers.

Fraud charges frequently lead to federal prosecution. As with state charges, federal fraud charges require an understanding of both the law and applicable precedent and a well-planned defense strategy. If you are facing fraud charges, getting in touch with a criminal defense attorney in California can help you fight back and protect your reputation as well as your freedom.