Financial Fraud – Lawyer in a Financial Fraud Case

Among the most popular categories of illegal actions is fraud with monetary assets, that is, with finances. Illegal activities are carried out on the basis of: abuse of trust, deception, a number of other manipulations, the purpose of which is illegal enrichment.

Without a doubt, financial crimes have a very negative impact on the public and private economy. In particular, we are talking about such consequences as loss of income for commercial enterprises and government treasuries. In this article, we will consider the main types of financial fraud and find out what functions a lawyer has in a case of financial fraud.

Financial fraud: main types

Among the most common types of financial fraud are:

• Investment fraud

It is based on the sale of securities or investments based on false information. This can be, for example, manipulation of the value of shares for profit; sale of real estate using falsified information.

• Theft of financial information

Among this category of criminal acts: theft of bank accounts, card numbers for withdrawals or other fraudulent acts.

• Credit/mortgage fraud

This type of financial fraud involves the use of someone else's information or the provision of false data to obtain a loan/mortgage.

• Marketing fraud

It is one of the most common types of financial crimes. It can be carried out using phone calls, mass mailings, spam messages. The purpose of such activities is to extort commissions or steal confidential information related to finances.

To effectively protect against financial fraud, you will need a detailed understanding of the methods of illegal activity.

The lawyers of our office "Prykhodko & Partners" analyze specific situations to identify potential risks and develop an effective protection strategy. Our specialists will provide personalized advice related to protection against financial crimes. We protect our clients from fraud both in Ukraine and abroad.

If you are still unlucky and you have become a victim of financial fraud, it is important to take the following important steps:

1. Immediate blocking of accounts and bank cards.
2. Contacting lawyers and law enforcement officers.
3. Reporting the facts of fraud by representatives of financial institutions.
4. Collecting evidence.

We recommend that you immediately seek legal support from a lawyer. We will help you correctly draw up all the necessary documents and develop an effective protection strategy.

Financial Fraud: Liability

In most cases, fraudulent actions with finances fall under the sanctions of Article 222 of the Criminal Code of Ukraine - Fraud with Financial Resources. What liability is provided for under this article?

Part one of Article 222 of the Criminal Code of Ukraine regulates the following punishment: fines - from 1,000 to 3,000 non-taxable minimum incomes of citizens (hereinafter - NMI); deprivation of the right to engage in professional activities - up to 3 years. The above liability arises as a result of:

• Providing falsified, knowingly false information.
• The purpose is to obtain benefits, subsidies, grants.

Part two of Article 222 of the Criminal Code of Ukraine has aggravating factors - repetition of the commission; causing material damage in especially large amounts. In this case, the prosecution will demand the following punishment:

1. Penal sanctions - up to 10,000 NMDC.
2. Deprivation of the right to engage in professional activity - up to 3 years.

The object of illegal activity under the specified article is the procedure for lending, financing and taxation.

Important: a person may be acquitted under Article 222 of the Criminal Code of Ukraine in cases where the nature of the fraud is passive and is accompanied by concealment of information.

In recent years, the number of cryptocurrency frauds has significantly increased. This is one of the types of financial fraud. Virtual assets are an attractive area for fraudsters. The law firm "Prykhodko & Partners" will become your reliable partner on the path to restoring justice.

In the vast majority of cases, crypto fraud is committed via the Internet. Our lawyers have practical experience in combating crypto fraud:

• Forming an evidentiary base and providing expert assessment

We have practical experience in interacting with investigative agencies and digitalization experts.

• Assistance in resolving financial problems

Our lawyers know all the nuances of cryptocurrency transactions. We will make every effort to protect your finances and reputation.

• Representation in court

We have the necessary practical experience in cases related to financial fraud. Our lawyers will use all legal mechanisms to protect the interests of each person. Among our advantages is working for the desired result for the client!

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