Fraud can be devastating.
Especially if it is aimed at an individual, as it can wipe them out financially. Due to the rise in cybercrime and fraud, more people than ever may be at risk of being targeted and losing money. Many people then feel too embarrassed to pursue legal recourse due to fear of being labelled as gullible.
It is worth noting, however, that there is a lot that can be done to help you get the money lost back. Even if it was lost to a scammer located overseas. But in order to do that, you need to seek the help of an experienced fraud solicitor.
Here is a short breakdown of what is involved in asset recovery in the UK. Alongside the different types of fraud that you, or your business, may be in danger of being targeted by.
What is fraud?
Fraud is defined as when a person tricks you into handing over personal information, usually using deceptive means. This can be personal information, access to bank accounts, identity documents or even money. It is always with the intention of this person gaining from your assets or information. And, in the UK, fraud is the most common type of crime.
Therefore, if you fall victim to it, it will not be hard to get the appropriate representation.
Types of fraud
As mentioned before, there are many kinds of fraud, many of which are targeted more towards individuals than companies. Some of the more common types are discussed below.
This is when someone steals your identity and uses it without your permission.
This could include your name, address, passport or National Insurance Number. This is commonly aimed at individuals, but can expand to larger scale usage with companies. To avoid this kind of fraud, do not respond to phishing emails, never divulge personal information. And of course, keep an eye out for signs of unusual activity in your bank or business accounts.
Credit card fraud
This is pretty self-explanatory. Credit card fraud occurs when someone takes out a credit card in your name and runs up charges on it. Alternatively, they may have stolen your credit card and are using it without your consent.
This can target anyone, but it is more commonly seen aimed against individual people.
To prevent this, if you lose your credit card, make immediate contact with your provider and have it deactivated. Keep an eye on your accounts for any spending which is not down to you. And of course, never give out personal information.
Much like the credit card fraud, this is pretty much what it sounds like.
A person or group will use your information to take out a loan. This is, unfortunately, more commonly occurring among small businesses and it can have huge impacts on these businesses too.
This can, oddly, be tougher to spot. But if you have received a letter or email asking for a loan payment that you did not take out, seek legal help. As a solicitor specialising in fraud will be able to help with asset recovery.