In recent years, media coverage of high-profile financial crimes has increased public awareness of fraudulent schemes and scams. Despite this, financial fraud continues to affect many individuals in North Carolina, however, with frauds constantly refining their tricks for swindling honest people.
Common Examples Of Financial Fraud
Fraud comes in many different forms, the majority of which involve exploiting the trust of an individual or organization for financial gain. Some notable examples include:
- Securities fraud – when the value of a company or its stock is misrepresented, either by the company itself or a third party, in order to deceive investors into buying shares
- Unsuitable investments – by misrepresenting the level of risk or expected return involved, brokers and financial advisers may coerce their clients into poor or unsuitable investments
- Bad faith insurance practices – when insurance companies deny valid claims, purposefully underpay claims, or deny coverage to individuals for conditions that ought to be covered by the terms of their insurance
- Identity theft – the unlawful use of another person's identifying information, such as a Social Security Number or bank account details, for fraudulent reasons – typically for financial gain
- White collar crimes and money schemes – such as pyramid or Ponzi schemes, which are marketed as low-risk, high-return investments but are in actuality completely unsustainable, functioning entirely by using money brought in from new investors to provide the yields promised to older investors
These examples of fraud are common, and it is possible for any individual, no matter how vigilant, to fall prey to them. If you have lost money as a result of financial fraud, our qualified attorneys can help you to recover your assets.
Don't Let The Frauds Win – Contact Slaughter Law Now
The practices and methods used to commit fraud have become increasingly varied and sophisticated. A convincing proposition or enticing opportunity can conceal fraudulent intentions from even the most skeptical of individuals. If you have suffered financial loss as a result of fraud, Slaughter Law, PLLC, can help. Set up a free, confidential consultation with a practiced lawyer by contacting the firm online or by calling their Wilmington office at 910-218-1827.