Mortgage Fraud on the rise

Today mortgage information provider CoreLogic released its “Annual Fraud Report” documenting a rise in consumer mortgage fraud.  The report highlights that recently convicted former Trump campaign manager isn’t the only one who submitted false applications to secure mortgage loans.  As in the case of Manafort, mortgage fraud is a federal offense and the penalties can be stiff, including…

The increase in popularity of mobile phones has greatly increased the number of mobile phone scams. Many fraudsters now see mobile users as a viable market for their malicious schemes. And since these schemes are still new many mobile users are easily tricked into submitting to the fraudster’s wishes, resulting in a high number of mobile fraud reports.

Mobile fraud comes in different ways. Some mobile phone fraud schemes may be delivered via text messaging or through a mobile phone call. All of these dubious schemes aim to manipulate and deceive mobile owners so they will follow the instructions of the fraudster such as paying for ransom, payment for IRS tax due, investment scams, employment fraud and others. Fraudsters pretty much communicate anything that they think would interest the victim or catch the victim's attention. This is the reason why there is a growing concern among government agencies and law enforcement units, so they are now encouraging more victims of mobile phone scams to file a fraud report. To give you some ideas how you can file a mobile scam report, see the details below;

Tips on How to File a Mobile Fraud Report

●     One of the primary steps to mobile fraud reporting is to first identify the type of fraud you wish to report. General types of fraud such as ransom messages or calls can be directed towards the local police. The local police can help you find the origin of the call or help you entrap the fraudster who has been threatening you. Although, many of these ransom fraud are usually empty threats, it is still best to make sure that you are safe.

●     File a scam report on mobile scams related to general consumerism to FTC or the Federal Trade Commission. The FTC accepts various of forms of fraud, including mobile fraud reports. The website has a dedicated page where you can answer questions pertaining to the fraud incident that you wish to report. The FTC fraud experts will then decide whether your report has enough credits for proper investigation.

●     A recent mobile fraud report on IRS scam has been circulating, asking people to pay up their tax due or they’ll face a lawsuit. Believing that they were dealing with a legit tax agent, many people became victims to this scam. This type of scam can be reported to TIGTA or Treasury Inspector General for Tax Administration. TIGTA offers an online platform that you can use to file a scam report related to mobile phone scams. 

●     You may also file a mobile scam report to SEC or Securities Exchange Commission. The SEC offers a platform that allow victims to file scam report pertaining to investment scams. Investment scammers often randomly send text message to showcase their low risk, high yield investment offer. Of course, this are all nothing but a hype. Once the victim sends money the scammer disappears along with the money from their victim. This type of investment scam can be reported to SEC. 

Investment frauds cover a lot of deceptive practices. Scammers use these frauds to get investors to judge important investment decisions. Practices can constitute incorrect or untrue data or opportunities. Investment frauds include stocks, bonds, commodities, notes, currency or real estate as well. Other schemes include Ponzi/pyramid, advance fee fraud, pump and dumps, offshore scams and different kinds of scams.

How to Set Up A Fraud Report

#1 Create a Fraud Report

Start the process by collecting important documents concerning the fraud in a file that is stored in a location which is secure. The file should constitute contact  with the name of the perpetrator as well as the email and mailing address, telephone details and website addresses. This is a sequence of events spanning many years. A fraud report should also contain details of a report by the police/law enforcement. Credit reports from the companies are also to be considered.  Any sign of fraud or deception should find its way into the fraud report. This includes the logs of phone dialogue with dates, names, telephone numbers of any reps spoken and notings on the information provided to you. Any relevant documentation involving the scam should find its way to the fraud report.

#2 Know What Your Rights Are

Rights provided by federal and state laws are the natural source of protection. But a violation of these rights creates a situation where one is a victim of fraud. Formulate a fraud report and ensure that your rights are protected. Conduct which is not allowed in the securities industry should be considered while reporting to regulators. Benefit from fraud report to as many different agencies as possible, depending on the nature of the scam. From the Financial Regulatory Authority to the SEC,  and the North American Securities Administration Association, there are many official bodies that can regulate the process and through their guidelines, you can avert a scam.

#3 Enforce Proceedings

Reporting the investment fraud to law enforcing is critical to begin recovery processes, especially when concerned parties are considered and more damage to other persons is contained. Contact local law regulators, the DA , AG or federal law enforcement for best results. Consider the remedies for scams and assets which are lost. Through mediation, civil lawsuit and arbitration, securities brokers involved in fraud can handle the process of ensuring justice is secured for you.

The best potential for the regaining of lost assets is through civil suits. Persons targeted by financial fraud can assess particular circumstances and facts of the cases and counsel people on available remedies. Civil lawsuits entail a long time and it can be critical to collect damages, if money or assets have been used. Some bodies and associations provide referral to attorneys who can act as your advocates. Investors need to file a fraud report on  key issues.

Quick and easy fraud report access is one of the primary tools being promoted by the UK government in order to provide timely and fast action against the different kinds of fraud being committed against its citizens. The government believes that the faster a fraud victim can report the incident the faster the authorities can take the necessary action to address the problem. Accessible reporting also helps authorities gather more useful information that can help them solve fraud schemes.  

Every year huge amount of losses is incurred by many people due to the various forms of fraud, especially with fraudulent schemes conducted online. This is one of the reasons why the government began promoting fast and easy reporting system. One of the results of this initiative is the Action Fraud. Action Fraud is a part of the National Fraud Intelligence Bureau or NFIB, which is under the City of London Police. The City of London Police is the primary department in charge of handling fraud cases. Action Fraud is the primary website of the UK for receiving online fraud reports.

Action Fraud Tools

Action Fraud offers various online tools to help facilitate your report. To give you some idea, see the list below;

●     Business Reporting Tool

Aside from the consumer report, Action Fraud also accepts reports from companies or businesses. Through the use of their Business Reporting Tool companies can now file multiple fraud incidents. In order to utilize this tool, the company filing the report must first register and has to know about the Home Office Counting Rules for Fraud and Forgery. Users of this form may access the on site web chat support offered by Action Fraud during office hours.

●     Online Fraud Reporting Tool

Online fraud reporting tool is specifically designed for individuals who wish to file a complaint against an online fraud committed against them or a third party. This online fraud tool consists of questions designed to help you retell the incident without missing any crucial information about the case.

The primary role of Action Fraud is to compile all the fraud reports filed on the site. They then forward each of this report to the corresponding agency such as the NFIB and the City of London Police. London Police assigns these types of fraud cases to their fraud expert officers.  These officers are trained professionals. Through effective questioning and investigative skills, they are able to determine whether a report is indeed due to a fraudulent scheme or is a product of poor business practice. In case the problem is due to the negligence of an individual or business, then they will refer to the applicable department who can help address their concerns.

One of the most widespread scams nowadays is the insurance scam. There are different motivations behind reporting an insurance fraud. From turning in an insurer or independent claims adjuster for fraud against consumers, to turning in a consumer for fraudulent action against a private or public insurer, there are many kinds of actions you can take to combat fraud in the insurance sector. Depending on the nature of the insurance and the type of fraud involved, reporting methods can differ. Check to report the insurance fraud and make sure you file the fraud report and report the crime to the correct authority.

#1 The Importance of Reporting the Fraud

The first thing you need to consider is that uncaught insurance scams lead to higher premiums for consumers down the road. When you are not directly impacted, it still can be a losing proposition because it means more money out of your wallet when you have to renew the policy and pay the premium. Each time insurance companies stop fraud, it saves your money. Each consumer should be encouraged to file a fraud report for reporting insurance fraud.

#2 Gather Plenty of Information

Collect all the details carefully. Building an insurance fraud case needs time, and effort. Official agencies can be dedicated to investigating the activities, but unless you provide the information to substantiate your claim, there is nothing they can do. Collect appropriate documents, names, dates and other critical information which have a bearing on the case when you file a report.

#3 Check With Your Insurance Company

If you are the victim of the insurance fraud, file a fraud report and then check with your insurer. Most insurance companies have internal departments that check anti-fraud and are available to check with insurance agents and claims adjusters suspected of fraud. This can clear up transcription errors or clerical mistakes that could have caused fraud.

While writing a fraud report, have documentation related to the claim or policy when one calls to isolate the source of the fraudulent activity or filing error. Make sure you file a report and alert the necessary insurance company. Options for anonymous reporting are available too. Check with the state insurance fraud bureau and reach out directly if the need be.

#4 Contact the Relevant Authority

For instance, if you are an American citizen, insurance fraud related to Medicare can be costly to taxpayers. So, make sure to contact the US Department of Health and Human Services which has a specific process for insurance fraud. Similarly, the medicare reporting mechanisms of each state differ. If its a crop insurance fraud, contact the agricultural department. You also need to contact law enforcement after filing a fraud report. Other agencies will look into the investigation of fraud activities if law enforcement is concerned. Local law enforcement agency has a fraud division.

Be clear what constitutes insurance fraud. It could be the insurance company, agent selling the policy, the insurance claims adjuster and even the consumer. Insurance fraud is when a group intentionally deceives another for illegitimate gain. It can take place anywhere in the insurance process pipeline from purchasing and using insurance to acts of selling and underwriting of policies. Understand that the cost of insurance fraud takes a toll on everyone. Premium diversion is another common form of embezzlement and insurance fraud with serious consequences.

Filing a fraud report is an essential step that you should take when you become a victim of credit card fraud. Some people fail to see the importance of taking this step as soon as they learn that they have fallen victim to a fraudulent scheme and this negligence often leads to more problems. There is a reason why the authorities and credit card companies are adamant at reminding credit card fraud victims to file a report. Here is a list to help give you an idea why this is so important:

Reason to File A Credit Card Fraud Report

The sudden surge in credit card fraud cases is often associated with the development of the Internet industry. The Internet has opened up a platform for numerous industries which in effect resulted in various forms of credit card fraud. The first step in filing a credit card fraud, is identifying the type of fraud that has been committed against you. Here are the different forms of credit card fraud;   

Card Not Present Fraud

This type of fraud is a common malicious credit card scheme. This happens when a fraudster gets access to your credit card details, using it as a means to make credit card payments via online or phone purchase. Your credit card statement should be able to reveal the details if you have fallen victim to this malicious scheme.     

Counterfeit Credit Card

This form of credit card fraud utilizes tools and fake identity. The fraudster creates a replica of your credit card’s magnetic strip and place it in a standard issue legit looking fake credit card. Using this fake credit card, the fraudster can now assume your identity with a fake ID and pay their purchases using a fake copy of your credit card. This too can be monitored through your credit card statement.

These two are just some of the most common types of credit card fraud. There are other forms that you may encounter along the way. Most of which can be easily spotted, provided you regularly review the transactions detailed on your card statements. Now, here are some of the reasons why you should file a credit card fraud report:

Filing a credit card  report prevents fraudster from continuously exploiting your credit line. One of your top priorities when you become a victim of credit card fraud is to file a fraud alert on your account.  The credit card company can either place your account on alert or suspend it indefinitely. By doing so, all transactions conducted using your compromised credit card account will have to be verified and authenticated or automatically cancelled.

The credit card fraud report can be used to dispute all unauthorized transactions conducted on your behalf. The credit card company may use your fraud report in determining whether your disputed transactions are valid.

Your fraud report can give local authorities a good starting point for their investigation. The more information you provide, the faster the authorities can identify and arrest the fraudster.  Plus, authorities may also use your information in alerting the public not to fall for the same fraudulent scheme.

Internet fraud is a serious cybercrime, and those who fall victim to it can file a report with the police. Those who always spend a decent amount of time on the Internet for whatever reason are highly aware that things online aren’t always what they seem. Anonymity on the Web has served as a new breeding ground for new forms of crime, including hacking, scamming and fraud.

The United States alone has reported more incidents of fraud than any other nation. According to the Internet Complaint Centre, the US has accounted for at least 90% of the total complaints back in 2012. The Internet Complaint Centre is a task force formed between the National White Collar Crime Centre, and the FBI. Every year, victims of Internet fraud are usually reported to lose at least $1,813 each, for a total amount of $525M.

But even if Internet fraud ends up with the victim losing their cash or not, it should still be reported to the police nevertheless. Filing a report can possibly grant the victims justice, which comes in the form of a restitution and an arrest. It can also be a benefit to others, since it gives the authorities a heads up and they can use this as a form of warning to the public. This article will provide its readers with the right kind of information regarding the most common forms of online fraud, as well as the necessary steps that people need to take if they have fallen victim to one.

Common Complaints in an Online Fraud Report

1.)    Internet merchandise scams – These types of scams usually come in the form of an online advertisement for luxury or hard-to-find goods, such as designer bags, the latest gadgets, or the newest sneakers. They are priced below the typical retail value. If a person attempts to buy them, it never appears on their doorstep, or is sometimes replaced by a counterfeit or an inferior version of the item. Last year, Internet merchandise scams topped the list of online fraud report complaints from the public.

2.)    Identity theft – This was perhaps the biggest consumer complaint back in 2015, and has always been that way since 2006. Not only can these crooks remove their victims’ cash from their bank accounts, they can also open up brand new lines of credit in their victim’s name. So they need to contact their banks immediately, file a report, and alert the credit bureaux as soon as this happens.

How to File a Fraud Report in the USA