Let’s say that something big breaks in your home. It’s a pain when you have to deal with an unforeseen expense. Sometimes, it seems like a better idea to just hire a local handyman to get the job done rather pay a premium amount for a real contractor. It’s not that big of a deal, right?
There are some things you should know about unlicensed contractors so you’re not on the hook if things go wrong. For example, as the homeowner you’ll assume financial responsibility and liability if the handyman gets injured on the job, the job becomes problematic, or the finished product doesn’t meet code.
If you want to protect yourself from accidentally doing work with an unlicensed contractor, keep reading below for a comprehensive list of questions to ask next time you’re hiring. That way, you’ve done your due diligence to ensure a protected job well-done.
1. Are you licensed?
This might seem like a silly question. However, don’t be ashamed to ask! Any real licensed contractor will be able to fulfill the full set of requirements for contractors. If they’re not able to present the documents to you, you can easily check online for their status. If you start your questioning here, you’ll be able to weed out a lot of candidates that don’t measure up to the standard you hold. Doing business with someone unlicensed isn’t always bad news, but it does greatly increase your risks and holds liability over your head.
2. Can I have the contact information for your insurance agent?
You don’t want to do business with someone who isn’t insured to get the work done. While it might seem easier to just take a look at their insurance policy, there’s no way to guarantee it’s still valid. The only way to get full confirmation is by calling the agent yourself. While you’re at it, ask them to add you to the policy as “additional insured” so you know you’re protected.
3. Can you provide me all the lien releases?
A lien release is an important document that will protect you from having any liens placed on your home due to unpaid subcontractors or vendors. Don’t take their word for it, ask to actually see it. Anyone who’s worth their stuff will gladly provide them before getting to work.
4. Will you pull all necessary permits?
Make sure you don’t go pulling the permits for the job yourself. Legally that makes you the general contractor of the job. Instead, keep liability on them by having them pull all permits on your behalf. Only a true licensed contractor will be able to do this.
5. Will you provide me with a written contract before the work begins?
A good contract is one of the most important aspects that makes a good contractor. These legal documents will determine what your rights are and how the contractor must remedy any issues that arise. While it would be great to be able to fully trust your contractor’s word, don’t simply shake on it. In the end, that means it’s only their word against yours. Should anything go wrong, it creates a lot of mess. With a contract, anything that could arise will be covered so that you know the proper course of action.
It’s smart to always vet your contractors online. Check out their website, look for positive reviews, and check their rating on the Better Business Bureau. Its always better to be safe than sorry when trusting someone else with you project or property. Do your research to avoid scams and ensure the company you hire is legitimate.
We live in a time where—more than ever—both workers and employers enjoy the protection of their rights under the law. On the other hand, there are still plenty of situations where you may have to do more to have that protection or to get what is due to you. This is where employment lawyers come in.
In Western Australia, employment lawyers typically offer a number of important services to both employees and businesses alike. The types of services they offer typically include—but are not limited to—the ones below:
1.) Termination of employment
The period before and after an employee termination can be extremely critical. Businesses and employees involved in these situations are strongly advised to find lawyers specialising in labour and employment laws as soon as a termination is imminent to ensure that their legal rights are properly protected.
2.) Employee contract reviews and entitlements
Many employee contracts place unreasonable burdens, and some employers may offer unfair entitlements. Employees and those about to sign employee contracts are highly encouraged to have their contracts reviewed by qualified lawyers. Businesses are also advised to have legal professionals draft their contracts to ensure that all relevant labour and employment laws are complied with.
3.) Discrimination, harassment, and bullying cases
These cases are very difficult for the victims. Taking the services of lawyers can go a long way into ensuring that they can enjoy the protection given to them by both the Federal Government’s Fair Work Act as well as the other laws where the Australian Human Rights Commission could take action. If you are based in Western Australia, employment lawyers should be able to help you pursue protection under relevant state laws as well.
4.) Legal counsel for businesses
Businesses need lawyers not just for labour and harassment cases, but also for myriad other legal issues as well, including those covering safety and assistance during organisational restructuring, among many others.
5.) Legal counsel for contractors
Contractors are by far some of the least protected workers in Australia today. Contractors should seriously consider taking the services of lawyers to not only better protect their rights, but also to further increase the legitimacy of their practice. Specialised legal professionals can not only advise contractors of their rights, but they can also help improve their current business practices. This can all help contractors achieve a better, more stable income.
6.) Performance appraisal and management
Performance appraisals are a common cause of contention between management and employees. Employees must seek the advice of lawyers if they feel that they have been given unfair treatment during an appraisal. Likewise, businesses should hire legal professionals to ensure that their performance and appraisal processes are all transparent and in compliance with existing laws.
These are just some of the situations where the services of experienced employment lawyers can be useful. If you’re in Western Australia and find that you need the services mentioned, be sure to call the employment lawyers Perth residents and businesses trust.
In 1981, the world was exposed to one of the worst pandemics in recorded history. This was the beginning of the dreaded virus called HIV (Human immunodeficiency virus) or worse still, Acquired immune deficiency syndrome (AIDS).
This killer virus, according to the world health organization (WHO), has claimed the lives of over 32 million people worldwide over time. Which was why when the development of a new medicine that was proclaimed to allow people with HIV to live longer and less painful lives……
It was embraced and celebrated by all because it was an answered prayer. Finally, people living with AIDS needn’t die of this horrible epidemic.
But little did people know that this so-called miracle drug did more harm than good. What’s that popular expression?—“A wolf in sheep’s clothing!” It is no other drug than the popular Truvada which is majorly a composition of tenofovir disoproxil and emtricitabine.
This drug ended up causing more harm than good, which invariably has led to onder law firm and many more law firms that helps unsuspecting victims that have suffered immense mishap as a result of making use of such drugs to get some form of retribution.
These HIV drugs were sold under different names like Complera, Truvada, Atripla, Stribild, and Viread. One of the major underlying components, Tenovfovir, like we stated earlier, was actually manufactured, distributed, and sold by one of the financially powerful giants within the health sector.
In fact, there has been some lawsuit against this company over the years, because they were allegedly accused of knowing the side effects of the drugs and still kept it in circulation because of their financial gain.
But before we go into details, and begin to unravel the behind the scenes of what brought about this lawsuit, let’s take a look at some brief history—and then maybe I can wrap your head around understanding how HIV victims have been victimized—if you will be willing to follow me till the end
Gilead Sciences, Inc. is a big pharmaceutical company based in California. They acquired the rights to a unique drug in the mid-1990s called Tenofovir. Not only that, but they also went ahead to secure the exclusive license to synthesize any Tenofovir based compound.
Gilead started the manufacturing and sales of a prodrug form of Tenofovir called TDF which they knew was very toxic to the kidneys and bones in the human body in early 2001.
Perhaps the most shocking and utterly unspeakable thing that was alleged they did, was the fact that, they developed another drug called TAF which they knew was less harmful, much safer and more effective in treating HIV, but decided to keep it from the general public in order to maximize the profit from the already monopolized TDF patency.
Following a recent five-count lawsuit
Strict product Liability
Breach of express warranties
Breach of implied warranties
Fraud and concealment}
that was filed recently by some patients that have suffered humongous deterioration to their kidneys, bones, and teeth in April 2019 in the county of San Francisco, California against Gilead Inc.
It is evident that this is not just a story being made up. It is real, and real people have been affected, and even in some cases, death as a result of alleged corporate greed.
The plaintiffs argued that after Gilead sciences secured the license to the drug “tenofovir” and the exclusive rights to produce, synthesize and create Tenofovir based compounds, beginning in 2001, they manufactured and sold prodrug forms of Tenofovir called TDF.
Within that same time, they had developed another prodrug, which was another form of Tenofovir that was called Tenofovir Alafenamide Fumarate (TAF), which the company knew was less toxic to the kidney and bones.
Furthermore, data submitted by the company in a patent application before TDF was even approved, exposed the fact that Gilead knew TAF was substantially less toxic than TAF, yet Gilead decided to shelf the TAF project in 2004.
It was alleged that this was done to maximize returns on the existing TDF patent. Gilead entered the marketplace to the exclusion of all others, leaving patients with no option in an already desperate situation.
And under these circumstances, the plaintiffs allege that Gilead held-out on the safest possible drug. But ten years later in 2014 as the TDF patent came to a close, that was when Gilead strategically applied for FDA approval of TAF. And in November 2015, it brought it to the market for the very first time.
So when Gilead introduced TAF to doctors in 2015, it peached TAF as a new and novel prodrug formulation that was much safer for patients, but of course, there was nothing new about it.
It was basically the same drug that was kept hidden from the general public since at least 2000. And as a result, it’s alleged that hundreds of thousands of HIV infected patients, including people who took or administered the drug as a preventive measure—in order words—healthy people who took the drugs to mitigate contacting the virus but ended up causing more harm than good to themselves as a result of the use of TDF.
These plaintiffs and many more have suffered both physical and psychological deterioration over time, starting from the earliest appearance of this deadly virus.
The AIDS community has been through hell—they have been marginalized, neglected, stigmatized and discriminated against, ever since the disease first made its appearance in the public lexicon in 1981.
Back then, it was mockingly called the gay-related immune deficiency, gay-mans pneumonia, and gay cancer.
Still on the social humiliation suffered by HIV victims. Even though in 1982 that the center for disease and control had estimated that tens of thousands of people were already affected by the disease—and anywhere from 854 to 2304 deaths in the year 1982 to1983, had been associated to AIDS.
The initial efforts to allocate and source funding for AIDS research were ridiculed by the highest levels of government. So much so, that the then press secretary of the White House under President Ronald Reagan’s administration (Larry Melvin Speakes) went as far as calling the epidemic the gay plague.
You might be wondering why the history lesson? Well, the essence and message is for people to realize first that people with aids are real and so is there suffering and secondly (most importantly), that if there is anyone out there going through the same predicament, they should bear in mind that;
- They are not alone
- They can always take action by employing the services of special law firms that litigate specifically for people that have been exploited for one reason or the other.
In conclusion, It is our civic responsibility to help others that are going through one form of terminal disease or another, for they need all the love, care, and compassion they can get—-just my tiny winy bit.
If you are in dispute with another individual, whether it be a family dispute or consumer-related issue, litigation should always be avoided where possible. Taking a dispute to court can be a very expensive and stressful process and can take an unnecessary amount of time. Alternatives to taking a dispute to court is negotiating a settlement, and one of the most effective alternatives is mediation.
So, What is Mediation?
Mediation is the most common form of dispute resolution and alternative to litigation. It is a process where an independent non-biased mediator is appointed to help two disputing parties come to a mutually binding agreement. If you are currently going through a divorce or separation then you will need a family mediator that specialises in divorce mediation as alternative dispute resolution.
However, mediation doesn’t guarantee a settlement or resolution. It is up to the disputing parties whether they will decide to enter an agreement or not. Both parties must agree to take part in mediation in order for it to happen. One party cannot force the other into the process.
Who is The Mediator?
If two disputing parties agree to enter the mediation process, then they will need to appoint an independent mediator. When choosing a mediator, their experience, track record and professional background must be considered as they will need to understand the issue that is being disputed. After an independent mediator has been appointed, the two disputing parties will be asked to enter a mediation contract. At this point, it is usually requested that the mediator keeps all the information throughout the process confidential. If the mediator is a practicing solicitor, then they must comply with Solicitors’ Code of Conduct. This is a set of standards of the regulations of conduct expected of professional mediators in Wales and England. Appointing a mediator who is also a solicitor is generally the best option as they will have the best understanding of any legal issues that are involved in a dispute.
Before the mediation process begins, a mediator will carry out a Mediation Information Assessment Meeting (MIAM). This is so the parties can find out more about what the process entails and if they deem it the right solution to reach an agreement.
What is Involved During The Mediation Process?
At the beginning of the mediation process, the disputing parties should agree on a structure that mediation should follow. A suitable location will also be chosen for the process to take place. It will normally be a venue that has multiple rooms when both parties can discuss their issues in private with the mediator. Each party may also be required to prepare some documentation for the mediator before the process can begin.
A plenary session usually starts the mediation process and typically begins with the mediator introducing the nature of the dispute making objectives more very clear. During the plenary session, the mediator will also deal with any issues or legal matters that may affect the objectives of the process.
Following the plenary session, each party will present their side of the dispute to mediator where they will not be interrupted by the other party. However, the mediator may allow for questions to be asked after each party’s presentation. But, this normally depends on the nature of the dispute. Throughout the process, there is usually a breakout sessions where the individual parties are moved to separate rooms where they can speak to the mediator about how the proceedings are going. The mediator may try to narrow down the issues involved in the dispute to help facilitate negotiations between both parties.
What Are The Outcomes of Mediation?
The outcome of mediation will typically depend on what the dispute is about and what it entails, but in most cases, a full or partial settlement is agreed. If the mediation is unsuccessful or if one of the parties terminates the process, then both parties can go to court for a dispute resolution. If a full settlement has been reached, an agreement will be written. These agreements are normally drawn up by a solicitor. A settlement can only be enforced if both parties enter a legally binding agreement. If either party do not follow what is in this agreement, then they will be at breach of contract.
Knowing when and how to hire an attorney can protect you. Your attorney will ensure that you ask for total compensation, negotiate with the insurance company, and look out for your best interests.
Keep reading to learn how to know you need an attorney.
The Insurance Company Is Not Your Friend
You’re entitled to compensation for the damages you incur. This includes both your vehicle and medical costs. We all like to think that insurance companies are there to protect us with our best interest in mind.
However, this is not the case. The insurance company’s priority is their own business and budget.
Look for an insurance claims attorney who has experience negotiating with insurance companies.
Know What You’re Entitled to
Do you know all of the damages that you have a right to ask for? You can recover medical expenses, property damage, and even lost wages. Then in some states, you can also ask for damages for pain and suffering.
Hire an attorney to ensure that you ask for all of the damages that you’re entitled to.
The Accident Is Complicated
If you experience severe injuries or there are multiple parties, then you’ll need an attorney. Cases that involve these characteristics tend to be more complicated and take longer to resolve.
An attorney will ensure that you file against the correct party. They will also fight for your right to compensation for all of your damages.
To collect, you need to prove liability. An attorney will know and understand the different elements of the law and how to provide acceptable proof for each.
Hiring an attorney will greatly increase your chances of successfully proving the different elements to establish liability.
Don’t Risk Financial Loss
If you don’t file your claim in time, you may miss the window for the statute of limitations. This means you lose your right to recover because you can’t file a claim.
Some states also have restrictions on when you need to seek medical treatment after the accident. For example, in Florida, you need to seek treatment within 10 days of the accident. Fail to seek treatment, and you will be barred from recovery.
Your attorney will ensure that you meet all of the deadlines. That way, you don’t accidentally end up costing yourself money by missing a key deadline.
Know How to Hire an Attorney
If you’ve just been injured in an accident, you need to know how to hire an attorney. That way, you have someone who is on your side looking out for your best interests.
Your attorney will walk you through the lawsuit process. They’ll help you determine what damages you can ask for compensation for. Then they’ll help you review the insurance company’s settlement offer and negotiate for the best possible outcome.
Search our inventory of lawyers to find the right one for your needs.
You may think legal research is only essential to survive law school. However, polishing your research skills will put you on the path to a successful legal career.
Learning how to find a great legal research topic is the first step to write the best term papers in law school. This skill will come in handy when strategizing your cases or pursuing a post-graduate degree.
Want to learn how to polish your research skills? Here are the 4 steps you should follow to find the best legal topics to investigate.
1. Figure Out What Legal Issue You Want to Solve
While we all wish the legal system was perfect, the harsh reality is there’s room for improvement. When trying to figure out the best topic, you should take a look at current legal issues. Do you believe certain laws should change?
Maybe you have always wanted to learn more about how a mineral rights broker sells these rights. Focus on finding law school topics you’re passionate about. If you’re invested in the issue, it will be easier to investigate.
2. Search the Issue on Secondary Sources
Searching your topic on secondary sources is the best way to start your investigation. Treatises, legal encyclopedias, law reviews, legal dictionaries, and American Law Reports are examples of this type of sources.
Secondary sources will brief you on the legal concept and even point out the applicable primary authority sources. You may also use these sources in your thesis or term paper to persuade the reader.
3. Find the Applicable Primary Authority Sources
Cases of law, legislation, constitutions, and regulations are some examples of primary authority sources. No matter if you’re strategizing a case or writing a thesis, these sources are vital to defending your stance.
Make sure to cite these sources in your paper or case strategy. You must reference them even if your stance contradicts them. Keep in mind that you should stay away from topics you can’t find on primary and secondary sources.
4. Analyze and Apply the Controlling Law
Once you gather all your research, it’s time to start writing your paper or case strategy. Analyze all the applicable controlling law and state your stance.
You should also reference secondary sources to support your arguments. Focus on providing a realistic solution to the legal issue you chose.
Can You Find the Perfect Legal Research Topic?
No matter if you’re a law student or seasoned attorney, you can find the best legal research topic for your next thesis, term paper or case strategy. It all comes down to applying the best research strategy. Figuring out the issue you want to solve with your investigation is the first step.
Once you set your eye on a certain issue, it’s time to search for it on primary and secondary sources. The latter will provide an idea of where to find the applicable controlling law and primary authority.
After gathering all the applicable law, you must analyze it and apply it to the issue. At the end of your discussion, it’s vital to conclude stating your view on the legal issue and any suggested changes in the controlling law or its enforcement.
Did you find this article interesting? Check out the rest of our site for more insightful articles.
The number of lawyers in the US has increased 15% over the last decade, bringing the total 1.3 million.
If you’re in need of legal services, it may seem impossible to find the right one for the job. And you certainly don’t want to choose the first one you find!
When it comes to having a fair fight in court, the right legal representation can be the key to victory in your case. Keep reading to learn how to find the right lawyer for you.
Know Your Niche
Not all attorneys are created equal. Any good attorney will have established a law niche that they specialize in, an area where they consider themselves an expert.
For example, if you need an LGBT divorce attorney, you won’t want to enlist the help of an attorney who specializes in criminal proceedings.
Instead, figure out what kind of lawyer you need. Start by identifying the general law category of your needs, such as divorce proceedings. Then, narrow your case down by any specifics, such as an LGBT marriage or if the divorce involves custody arrangements.
Identifying these specifics before you begin your search will help you know the services you need.
Look at and Ask for Reviews
Once you’ve figured out what kind of attorney you need, it’s time to start your local search by looking at reviews.
First, do a simple internet search such as, ‘legal representation near me.’ Once you come across an attorney that piques your interest, look at their website for previous client reviews and testimonies. Also, look at their reviews on social media.
If you can’t find any, treat this as a warning sign.
If you feel comfortable talking about your legal situation, ask your friends, family, and coworkers for their recommendations. Even better, ask them if they know of any local lawyers you should avoid working with.
Interview the Final Prospects
After finding your niche and looking at reviews, you should have a solid list of attorney leads. Now it’s time to set up an interview with your final prospects to get to know them a little better.
Many experienced attorneys will offer free initial consultations. If an attorney wants a fee or a contract signed before meeting with you, they may not be a good match.
A few things to ask your attorney include:
- What is your success rate?
- Can you tell me about a case similar to mine that you’ve successfully represented?
- How long do you expect my case to last?
- Will I be working directly with your or a legal assistant?
Just use your best judgment during this step, always go with your gut.
Don’t Skimp on Legal Representation
Once you’ve interviewed legal representation options within your niche with good reviews, then it’s time to talk cost.
The biggest piece of advice we will leave you with is to never choose the cheapest option because of financial reasons. If you’re obtaining the services of an attorney, odds are the matter is important to you. If you find an attorney with good reviews who specializes in what you need, splurge on the expense — your future is worth it.
Need more advice before your legal battle ensues? Check out the blog section of this site for more informative articles like this one.
Did you know that just planning a crime is a crime in itself? That’s right; you could face conspiracy charges for planning to commit a crime with somebody else.
These charges are a bit more complicated than the criminal charges we are all familiar with. If you’re facing conspiracy charges, the best thing you can do is talk with an experienced attorney.
Here are five things to consider about your conspiracy charges while you look for legal representation.
1. There Are Three Elements to Prove
For the prosecutor to successfully charge you with conspiracy, they must prove three elements.
- To conspire, there needs to be an agreement between at least two people.
- The people involved must agree to and intend to commit a criminal act.
- At least one person performed an overt act in furtherance of the agreed-upon crime.
While these elements may seem simple, there are several subtleties to them. For example, an overt act can be something as small as buying a tool that will help with a planned burglary.
2. You’re Charged with the Crime and the Conspiracy
When you face criminal charges, you’re charged with both the crime and the conspiracy to commit the crime. These are two separate charges with different elements to prove.
Prosecutors often use this strategy because it enables them to bring in more evidence that they wouldn’t normally get to introduce.
3. You Can Be Found Guilty Alone
While the elements of conspiracy require there to be more than one person, this doesn’t apply to those involved being found guilty. Just because your co-conspirators are found not guilty, doesn’t mean that you will be too.
You and your attorney need to prepare a solid defense even though others involved have been found not guilty.
4. You Don’t Need to Commit the Crime
It isn’t the successful completion of the crime that makes a conspiracy illegal. In fact, you don’t even need to do the crime to be charged with conspiracy.
5. You Need the Right Defense
For most crimes, a solid defense is claiming that you didn’t do it. But when it comes to conspiracy, this can be a difficult thing to prove. You can click here to learn more about how the right team can help you create the most effective defense for your criminal conspiracy charges.
Three of the most common defense strategies are abandonment, withdrawal, and entrapment. These defenses may sound similar to the defenses or other crimes, but they are a bit more complicated for conspiracy.
To prove withdrawal, you need to show three things. You need to show that you took action to abandon the conspiracy.
That you communicated your abandonment to your co-conspirators in a timely manner. Finally, that you abandoned before the completion of the plan.
Defend Yourself Against Conspiracy Charges
If you’re currently facing conspiracy charges, the best thing you can do is seek experienced legal counsel. A knowledgeable lawyer will explain the legal process and the charges that you currently face. With their help, you’ll be able to craft an effective defense.
Be sure to subscribe to our blog to get legal tips and advice right to your inbox.
If there is someone in your life that is threatening the safety of you, your family, or your workplace, a restraining order might be your only solution.
Restraining orders are ordered by the court and prevent a person from performing a specific action, which usually prohibits them from approaching or communicating with you.
If you need to file for a restraining order, it’s important to know which type of restraining order you need. Keep reading to learn about the different types of restraining orders, so you can move forward with the process and stay safe.
Civil Restraining Order
Civil restraining orders involve general harassment, issues with neighbors, and other civil issues.
If someone you know (not a family member) threatens you with violence or acts violently towards you, filing for a civil restraining order is your course of action.
If you need to file a restraining order against a roommate, it’s important to note that this restraining order does not force them to move out. You’ll have to complete the eviction process before they are forced to leave the residence.
Oftentimes, the person you are filing the restraining order against may want to defend themselves in court. If that’s the case, you’ll definitely want a lawyer by your side. Learn more here about how a lawyer can benefit you in this process.
Workplace Violence Restraining Order
Do you have an employee that has threatened you or your employees with violence, or has even acted violently in the workplace?
If so, you’ll want to file for a workplace violence restraining order.
It’s important to note that only an employer can file for a workplace restraining order. These orders are generally filed if a current or past employee has acted violently or threatened violence to others in the office.
If you’re an employee in need of a restraining order against a fellow employee, you’ll need to file a civil dispute instead.
Family Restraining Order
Family restraining orders are common for those who are trying to escape an abusive partner. If your partner has harmed you pr threatened violence, you can file for a family restraining order to keep them away from you and prevent them from communicating with you.
You can also file a family restraining order against a sibling or a parent that has threatened or abused you.
Dependent Adult/Elder Abuse Restraining Order
This type of restraining order applies to those who are over the age of 65 or who are dependent adults. This population is often abused emotionally, physically, and financially due to age and status.
If someone is abusing you or someone you know due to their age or disability, filing for a dependent adult/elder abuse restraining order will prevent any future abuse, communication, or interaction.
So, Which Type of Restraining Order Do You Need?
Now that we’ve covered each type of restraining order, you should have a better understanding of which one you need. If you are still unsure about the restraining order process, it’s best to consult with an attorney who can help you navigate the court system.
Looking for more helpful legal advice? Check out the rest of our blog for some insightful articles!
Have you lost money or property due to fraud? You have probably been a victim of financial crime.
But just what is a financial crime?
If you’re not a criminal lawyer or a crime-buster, you certainly know little about financial crimes. This means you can be a victim without knowing or you can even commit a financial crime accidentally and find yourself in trouble.
This is why it’s important to brush up your knowledge of financial crimes. Continue reading to learning more about this, including the different types of forms of financial crime.
What Is A Financial Crime?
By definition, financial crime is any crime committed against property. In this case, property can be anything from money in a bank account to a physical building.
The goal of most financial criminals is to gain monetary benefit. For instance, when a person manages to siphon money from your credit card or bank account, it’s usually because they want it for themselves.
Types/Forms of Financial Crime
There are several types of financial crime. Here’s a brief breakdown of the most common types.
Did you know about one in every six dollars owed in federal tax goes unpaid?
If you or your business doesn’t pay your taxes, you could be guilty of tax fraud or evasion.
There are a couple of ways this fraud can happen. If you underreport your income so that you owe less in federal taxes, for instance, the IRS won’t take long to discover your illegal activity. www.paystubs.net has an informative article on the consequences of using fake paystubs to manipulate your earnings.
Depending on how long a person commits fraud and the amount of money involved, they could face anything from hefty fines to time behind bars.
Money laundering involves trying to make illegally obtained money appear legitimately obtained.
Here’s an illustration:
Let’s say person A robs a bank and steals $50,000. They manage to escape successfully. After a while, they decide to start a small business using the stolen funds as capital.
The business picks up and starts making sales. A takes this income and banks it in the business’ account. He/she then withdraws the money and uses it without a worry in the world.
This is a simple case of money laundering, but there are usually more complex ones involving a web of bank accounts across the globe.
Identity theft happens when a person uses another person’s identification details to commit fraud, such as applying for credit or filing taxes. In 2017, over 14 million consumers in the United States were victims of identity theft.
Terrorists and terrorist groups need money to fund their heinous acts. Anyone who provides financial support, monetary or otherwise, to these individuals groups commits a financial crime.
Understand Financial Crimes
Financial crime is a major issue in the United States and abroad. As a consumer, it’s important to understand these crimes and how they can affect you. Reading this article on “what is a financial crime” is a good place to start, but don’t stop here.
Keep reading our blog for more insights on financial crime and related laws.