The internet is full of ways to make “easy money.” Oftentimes, these opportunities involve signing up others who pay a fee. While some situations have some value in that they actually give you something for your money, others are little more than a pyramid scheme....
Fraud
How are tax fraud and negligence different?
Overall, the IRS estimates that tax crime convictions only represent less than one percent of taxpayers each year. However, they also estimate that almost 20% of taxpayers are not in compliance with the tax code in some form. In fact, it is also more common for...
What do fake phone calls have to do with bank fraud?
If you receive a call from your bank saying there is an issue with your account, you probably would not question it, especially if the number showing up belongs to your financial institution. Unfortunately, scammers have learned how to fake phone numbers so that they...
Why you do not want to get convicted of mail fraud
Mail fraud is a federal crime. To prove mail fraud, a prosecutor must show that you intended to defraud persons to get their property or money and used the mail to carry out your scheme. Using an interstate delivery service other than the U.S. postal service counts...
Health care fraud conspiracy raises questions about connections
Allegations of fraud of any kind risk harm to business owners, investors and industry professionals. When the stakes are in the millions, the penalties threaten the stability of businesses through thousands of dollars worth of fines and the futures of those charged...
Can outsiders be guilty of insider trading?
Insider trading may lead to civil or criminal charges resulting in steep penalties, prison sentences or both. Under New Jersey and federal law, obtaining non-public information leading back to a company insider and acting upon it for monetary gain is illegal. You can...
3 things you should know about tax evasion
The terms "tax evasion" and "tax avoidance" sound like they should be synonymous, but they are actually very different. Tax avoidance refers to using legal means to reduce the amount of taxes you owe. Tax evasion means not reporting all your income, and it is against...
Is wire fraud more of a problem than mail fraud?
Fraud serves as a severe crime in whatever context it appears in. In particular, mail and wire fraud have often ended up confused for one another because of the similarities they share, but each has its own distinct definition and associated penalties. Though mail...
What are some signs of counterfeit checks?
Check fraud is a serious problem, particularly because of the use of counterfeit checks. According to The Motley Fool, check fraud costs U.S. businesses billions of dollars with losses likely to continue mounting. So it is understandable if a business asks to verify...
Criminal Charges Against Individuals Committing Healthcare Fraud
Last week, the Department of Justice announced criminal charges against 21 individuals across the country accused of committing healthcare fraud concerning COVID-19 benefit programs. This was the most significant coordinated COVID-19 bust to date, spanning nine...