Types Of Financial Fraud

Financial fraud is a broad category of scams that can vary in severity. In an ever-changing world, there will continue to be new avenues to commit financial fraud when precautions are not put in place. 

• Identity Theft: Using someone else’s identity to complete illegal acts, drain their finances, or gain access to their assets.
• Insurance Fraud: Filing false claims or exaggerating claims to get a higher payout.
• Embezzlement: Misappropriating or falsifying financial information entrusted to you by the company or another individual. 
• Check Fraud: Using someone’s checks without their knowledge or permission or creating fake checks.
• Tax Refund Fraud: Filing a tax return under someone else’s name.
• Elder Financial Exploitation: Stealing money or other assets from an elderly person who does not have the resources or understanding to keep the fraud from occurring. 
• Debt Collection Fraud: Impersonating a debt collector to scare people into giving up money for debts they don’t owe.
• Return fraud: Falsifying receipts, returning items saying they are damaged, or stealing items and returning them for financial gain.
• Phishing: Using deceptive tactics to get individuals to share their sensitive information. This usually occurs over email or private messages.

Identifying Financial Fraud And How To Proceed

Hiring a private investigator to help you scope out financial fraud will help you lower the amount of money you could lose. Emotions can run high in fraud cases, so having someone who is level-headed will help you gain the necessary evidence. 

PIs will need to gather documents, conduct interviews, and trace financial paths to prosecute those guilty of fraud. Tracing stolen funds is a time-consuming process, which is why hiring help will help you focus on other important business endeavors.

If you notice any strange withdrawals from your account or have someone reach out to you about sending them money, reach out to our investigators as soon as possible. Preventing fraud is always better than having to work toward a solution. 

What Is The Likelihood Of Recovering My Assets?

If you are a victim of financial fraud there is never a guarantee that you will get your money back. While a portion of your money may be recovered, it is more likely that you won’t get these assets back. The likelihood of recovery often depends on the scope of the perpetrator’s abilities and how long it took you to report the fraud. Hiring a private investigator helps improve the chances of recovery significantly. Financial fraud investigators who are contacted as soon as the fraud occurs or is noticed will have a better chance of apprehending the perpetrator. 

In order to help the likelihood of recovery, try these tips:

• Swift action/report of the fraud
• Working with your credit card company to file a chargeback
• Gather any evidence that is readily available
• Don’t fall for another scam of a company promising to recover your funds for a fee
• Save any communications you had with the perpetrator 

Working With Our PIs At St. George Investigations

Private investigators will use a combination of many tactics to help trace the cause of fraud. St. George Investigations will get to the root of the fraudulent practices, even if it is a multilayered scheme. Financial fraud investigators can be the difference between bankruptcy and financial security. 

St. George Investigations will be your ally when it comes to financial loss. Stolen assets, financial challenges, and damaged reputations are no small challenges, which is why hiring the very best investigators will set you up for future success. We work with local law enforcement to help protect your assets or return what was stolen. Those who are victims of financial fraud can benefit most from our expertise and attention to detail. Reach out now if you believe you have been taken advantage of by a financial scammer.