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    Posted December 26, 2013 by
    owenkemp

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    Fraud Reduction Group, TYPES OF FRAUD

     

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    Frauds can be categorised by the type of victim involved. The most common groups of victims encountered by investigators include:

     

    - Investors
    - Creditors
    - Businesses
    - Banks or other financial institutions
    - Central or local government
    - Fraud by manipulating financial markets

     

    Frauds can also be categorised by the technique or activity used by the fraudster. These include:

     

    - Advance fee frauds
    - Bogus invoices
    - Computer hacking of information or property
    - Corruption and bribery
    - Counterfeiting, forgery, or copyright abuse
    - Credit Card fraud
    - False Accounting - manipulation of accounts and accounting records
    - Fraudulent bankruptcy - exploitation of cross-border corporate structures
    - Insurance fraud
    - Internet online scams - auctions, credit card purchases, investment scams
    - Investment fraud
    - Long Firm fraud
    - Misappropriation of assets
    - Money laundering
    - Mortgage Fraud
    - Payroll fraud
    - Principal agents - failure of systems to restrict key individuals
    - Pyramid schemes
    - Unsolicited letter frauds.

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