Due to the introduction of the Fraud Act, 2002, individuals and businesses are now more likely than ever to be investigated for serious fraud and financial crime. In an increasingly regulated environment, investigative authorities have more power than ever to scrutinise potential financial offences.

Whether you are a victim of fraud or financial crime, a witness with information or have been accused of fraud, the process can be traumatising and highly disruptive, therefore having the right legal representation to suitably advise you throughout the proceedings is vital.

Our specialist team of fraud lawyers regularly advise on a variety of fraudulent investigations, prosecutions and white-collar matters instigated by the criminal and regulatory authorities and we will support our clients in both civil and criminal proceedings.

Our extensive experience encompasses a wide range of fraud related matters including money laundering, insolvency cases involving fraud, trust litigation, online fraud and internet scams, tax fraud and investment fraud. As such the team understand the issues you will be facing, and they are committed to providing the best possible advice and assistance in defending your case and managing any associated problems.

Whatever your situation, fraud investigations can be worrying and stressful. We will provide clear advice and keep you fully informed, so we can guide you through the process, alleviating your concerns wherever possible.

What does fraud mean? 

At its most basic, fraud is cheating, but defined by the Fraud Act 2006, fraud is a criminal offence.

Fraud most commonly occurs when a person makes an intentional and dishonest representation or concealment of facts to gain for themselves or cause a loss to another.  

There are three main fraud offences for which someone could be prosecuted:

• Fraud by False Representation

This is the most common fraudulent offence. It is when a person makes a dishonest representation, or lies, to gain for themselves, or cause a loss to another.

• Fraud by Failure to Disclose Information

When someone dishonestly neglects to disclose information when they have a legal duty to do so with the intention of gaining for themselves or causing a loss to another.

• Fraud by Abuse of Position

Where someone abuses their position of trust. If someone has a duty to protect the financial interests of others, and they fail in this purpose, placing another at financial risk or causing a gain for themselves or a loss to another.

In each instance, the act must be proven to have been dishonest and a person who is found guilty of fraud is liable to a fine, or imprisonment. 

Types of Fraud 

Below are some of the most common categories that fraudulent offences will fall into. 

1. Banking, insurance, or credit fraud – cases include fraudulent insurance claims, payment card fraud, using false details to obtain a mortgage.
2. Confidence Fraud – usually carried out on vulnerable victims, confidence fraud is committed when the offender secures the confidence of an individual and as a result dishonestly obtains money or property.
3. Revenue Fraud – encompasses cases including false accounting, VAT evasion, Income Tax evasion, Excise duty evasion, improper importation of goods.
4. Benefit Fraud – entails the purposeful claiming of benefits someone is not entitled to. This may be from offering false information or failing to report a change in circumstances that affect your benefit entitlements.
5. Internet Fraud – involves using online services and software with access to the internet to take advantage of victims. Such ‘cybercrime’ activity includes identity theft, phishing and ransomware attacks that are designed to fraudulently obtain money.
6. Romance Fraud – involves people being duped into sending money to criminals who go to great lengths to gain their trust and exploit them.
7. Boiler Room Fraud – occurs when bogus stockbrokers (usually based abroad) cold-call vulnerable investors and coax them into investing money into worthless shares, schemes, or products. Once the victims have been duped of their cash, the criminals stop all forms of contact and disappear into thin air. 

Our Serious Fraud and Financial Crime Solicitors 

We advise both suspects and defendants, as well as witnesses and victims who find themselves exposed to an investigation by an enforcement authority, or because of a corporate enquiry.

Whether allegations are made against a company or an individual, we partner our clients with trusted and skilled advisors who will identify the most suitable approach, establish a robust defence, and reassuringly guide them through the process. 

We can also offer practical help and solutions for any victims of fraud with the aim of finding, preserving, and recovering stolen funds or assets, as well as advising on the possibility of proceeding with a private prosecution if deemed appropriate. 

Our fraud solicitors have a proven track record in successfully navigating serious fraud and financial crime cases for both individuals and companies.

Our serious fraud lawyers are familiar in dealing with several prosecuting authorities, including the Police, the Crown Prosecution Service, the Serious Fraud Office (SFO), the Financial Conduct Authority (FCA), the National Crime Agency (NCA), and Her Majesty’s Revenue and Customs (HMRC).

Our Serious Fraud and Financial Crime Services:

• Business fraud · Corporate Fraud · Banking and Financial Fraud · Insurance Fraud ·Mortgage Fraud · Money Laundering · Conflicts of Interest · Tax Evasion and Fraud · VAT fraud · Directors Misconduct · Conspiracy to defraud · Bribery and Corruption

Talk to one of our fraud and financial crime solicitors today by calling 020 8297 7933 or emailing info@simonbethel.co.uk.