Published On: Tue, Dec 10th, 2019

7 Types of Actionable Fraud a Litigator Can Help You Take a Stand Against

Fraud seems to be a normal part of life these days, and everyone seems to be wanting to scam you. In reality, the impact of fraud on your life is a matter of if, not a matter of when. Actionable fraud is deliberate deception and can be prosecuted. There are seven different types of fraud a litigator can help you with: health care, pharmaceutical and medical device, pharmacy, financial industry, government contract, customs and tariff, and bribing foreign officials. The purpose of this article is to explain each of these types of fraud to help you understand if you have been deliberately deceived.

  1. Healthcare Fraud

Actionable fraud runs rampant in the health care industry. Elias LLC states that “Healthcare fraud costs the nation, conservatively, over $70 billion a year.” So, what exactly is healthcare fraud? The most common one is called a lack of medical necessity. This is where a doctor performs a medical procedure that is medically unnecessary for the patient. It’s an easy scam. After all, they have a medical degree and are in a position of trust, why would you question them? The FBI also indicates that fraud can be committed when someone steals your health insurance information and uses it for their benefit.

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  1. Pharmaceutical and Medical Device Fraud

Remember when the price of an EpiPen skyrocketed? Consumers were outraged. While this isn’t technically fraud, its a good example of how the pharmaceutical and medical device industry can unethically bump up prices to the disadvantage of the consumer. Sometimes, they even resort to illegal tactics such as accepting kickbacks, providing partial information to the FDA, and manufacturing adulterated products.

  1. Pharmacy Fraud

Everyone wants to believe their pharmacy behaves in an ethical manner. But, sometimes, they just don’t. Pharmacies can replace the drugs that you need with ones that are illegal to substitute, refill prescriptions that are unauthorized, fraudulently bill your insurance, or even participate in the rising opioid crisis by dealing out dangerous drugs to make money on the side.

  1. Financial Industry Fraud

Financial industry fraud is a serious crime. Remember Martha Stewart’s insider trading debacle? Financial industry fraud is where someone in a position of trust-; your mortgage broker or your financial advisor-; exploit the system in order to make money off of you. This kind of fraud can go as far as money laundering or be as simple as trying to manipulate the stock market. Either way, someone is making money illegally.

  1. Government Contract Fraud

Government contracts are great for big and small businesses alike. Trouble is born when a company doesn’t comply with the government contract or grossly overcharges services for the US government because they think that they’ll be able to pay for it. Some scammers even substitute their agreed-upon products with cheaper ones to cheat the government and ultimately the taxpayers.

  1. Customs and Tariffs Fraud

The tariffs placed on goods coming into the country can be hard on companies. Sometimes, to save money, those companies commit customs and tariffs fraud. They do this by misclassifying or undervaluing the goods coming into the United States. They can also ship goods to a country that has smaller tariffs placed on the first and then have them shipped into the US so they don’t have to pay as much.

  1. Bribing Foreign Officials

International business can be tough. More often than we’d like to admit, foreign officials are bribed into continuing contracts with businesses. This is, of course, illegal and a scam on the American taxpayers.

Actionable fraud can be found all around us, and some of it is extraordinarily deceiving. Luckily, this deception can be prosecuted, so it is important to be aware of these seven types of fraud to arm yourself with knowledge.

Author: Laura Brown

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