What are some different types of fraud?

At its core, fraud involves deceiving someone for personal or financial gain. The specific types that occur encompass a wide range of actions and schemes.

Recognizing different types of fraud can help protect you from falling victim to these deceptive practices.

Identity theft

Business Insider listed Florida as the third worst state for identity theft and fraud in 2023. Identity theft involves someone stealing your personal information, such as your social security number or credit card details, and using it for their benefit. They might open new credit accounts in your name, make purchases with your credit card or even file fraudulent tax returns.

Insurance fraud

Insurance fraud is another common type of fraud. This can occur in various forms, such as staging accidents to claim insurance payouts, exaggerating claims or providing false information when applying for insurance. Both individuals and businesses can be guilty of insurance fraud, and it can affect various types of insurance, including car, health and homeowners insurance.

Real estate and mortgage fraud

Florida’s bustling real estate market can be a hotbed for fraud. Real estate and mortgage fraud involve providing false information on mortgage applications, engaging in illegal property flipping or running rental scams.

Internet and email scams

Internet and email scams have become increasingly common. These scams can take many forms, from phishing emails seeking personal information to online auction scams where goods are never delivered.

Fraud can have severe impacts, both financially and emotionally. Always verify information, be cautious about sharing personal details and report any suspicious activity to the appropriate authorities. Remember, vigilance is your best defense against fraud.