What are the different types of fraud charges?

On Behalf of | Jun 23, 2023 | Criminal Defense

Fraud is a serious offense in Georgia, carrying severe consequences for those involved. Understanding the charges associated with fraud and the possible defense strategies is crucial for individuals and businesses facing such allegations. 

Whether you are a defendant or someone seeking knowledge on this subject, this run-down will equip you with the necessary information.

Identity theft

Identity theft is a prevalent form of fraud that involves the unauthorized acquisition and use of someone’s personal information for illicit purposes. In this state, identity theft is a serious offense and is considered a felony. 

Perpetrators may gain access to sensitive information such as Social Security numbers, bank account details or credit card information to commit various fraudulent activities, such as financial fraud or false impersonation. Those found guilty of identity theft can face severe penalties, including imprisonment and substantial fines.

Insurance fraud

Insurance fraud occurs when individuals deceive an insurance company for financial gain. This can involve:

  • Submitting false information 
  • Exaggerating claim 
  • Staging accidents 
  • Intentionally causing property damage 

Insurance fraud is a criminal offense and is vigorously prosecuted. The penalties for insurance fraud can vary depending on the severity of the crime, but they typically involve significant fines and imprisonment.

Credit card fraud

Credit card fraud is the unauthorized use of another person’s credit card information to purchase or obtain funds illegally. This form of fraud can occur through various means, such as skimming, phishing or stealing physical credit cards. 

Credit card fraud is a serious offense and is punishable by law; offenders may face imprisonment and fines. In most cases, the court will order restitution to the victims

Securities fraud

Securities fraud involves deceptive practices in the stock market or other investment schemes. It includes actions such as insider trading, false statements or manipulative activities that can mislead investors and harm the financial market. Securities fraud is taken seriously, as it undermines the financial system’s integrity. Convicted individuals can face severe penalties, including substantial fines and imprisonment.

If you’re accused of some kind of fraud, things may not always be what they seem. Being aware of the legal implications and penalties associated with these charges and having experienced legal assistance is the key to developing an effective defense strategy.