Money Laundering is a complex type of fraud, which involves a conglomerate of participants, resources, and circumstances. It’s a criminal activity classified as a white-collar offense with a rich history and global cases. It is wrapped around illegal financial transactions with the objective to hide the criminal nature of the income. Sometimes this term is applied to other aspects of financial crimes, like violation of the securities, digital currencies, credit cards, traditional currency, terrorism financing and evasion of international sanctions. The penalties for these felonies vary according to the level of severity.
Insurance fraud refers to an intent to obtain some benefits or advantages by means of false and misleading information filled in in the insurance document and consists of exaggerated damage or losses that never occurred. According to Crime in the US 2012 FBI Report the total cost of insurance fraud is more than $40 billion per year. In 2011 there were 140 pending insurance fraud cases.
There are two types of insurance fraud:
- Soft fraud, that consists of “little harmless lies” in order to maximize the claim.
- Hard fraud, that involves falsification of an accident or an injury in order to legally collect money from the insurance agencies.
If you don’t want to become a victim of insurance fraud, don’t trust people who sell insurance over the telephone or door-to-door. It is also not wise to give your insurance ID number to people or companies you don’t know. Don’t forget, if an accident occurred to you, make sure you get as much evidence as possible.
Bid-for-Placement: what does it mean? Why do we need it?
A bid is a sum of money that a lawyer offers for the opportunity of talking to a client, to receive his contact information and discuss his case (the minimum amount you can bid on is 6 law dollars).
It’s important to remember that a lawyer’s bid on a case determines where in the list of competing, “bidding” lawyers their profile will be displayed to the clients, who posted the case. The profile with the highest bid will be displayed first and the lowest, respectively, the last.