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Fraud lawyers interpret and apply fraud laws in various settings, including insurance, tax, securities, and commercial fraud. They can be divided into three categories: those who help write and enforce fraud laws, those who represent defrauded parties, and those who represent accused parties. Fraud lawyers typically specialize in a specific type of fraud to become experts in that area. Victims of fraud usually report to fraud departments or government consumer protection agencies rather than hiring lawyers.
The work of fraud lawyers is wide and diverse, but always focuses on the interpretation and application of fraud laws. Almost all jurisdictions have laws that prevent and punish fraud in a variety of settings. Insurance fraud, tax fraud, securities fraud and commercial fraud are just some of the most popular fraud laws. A fraud attorney’s job is to learn these laws, understand their application, and represent parties affected by them.
There is no single description for the “fraud lawyer” as much of the job depends on the contours of the lawyer’s individual work. It is very rare for an attorney to pose as a general fraud attorney. Fraud attorneys typically limit their practices to a specific subset of fraud. By focusing on a single area, the attorney can become an expert in a certain type of fraud and can provide better representation to clients in that industry.
Fraud lawyers can be divided into three main groups: those who help write and enforce fraud laws, those who represent individuals and companies that have been defrauded, and those who represent individuals and companies accused of fraud. The first and third categories are most common. In most cases, consumers who feel they have been misled can initiate institutional actions that do not require the assistance of an attorney. Many banks, corporations and other consumer-facing organizations have fraud departments dedicated to representing and resolving any fraud allegations. Some fraud department employees are lawyers, but most are not.
Lawyers who help write and enforce fraud laws often work for national or local governments. A big part of their job is usually to make sure all fraud laws are as up to date as possible. This may involve conducting research, monitoring fraud allegations and updating how changes in technology are impacting fraudulent practices.
A government fraud attorney usually also has an investigative component to their job. Lawyers in this capacity typically follow up on consumer complaints and follow up on fraud reports issued by companies and banking institutions. When warranted, fraud lawyers will prosecute alleged fraudsters. They lead fraud cases, manage trials and represent the government’s interests in court.
Each person or entity prosecuted for fraud generally brings individual representation. In most cases, it is a defense-oriented fraud attorney who does this on behalf. This type of fraud attorney uses fraud laws to argue that the defendant is not responsible, was not at fault, or cannot be properly prosecuted for some reason.
Fraud defense attorneys, like most other attorneys, focus their practice on a certain type of fraud. A credit card fraud attorney, for example, will spend most of his time evaluating the strengths or weaknesses of cases against alleged identity thieves or credit card fraudsters. Likewise, an insurance fraud attorney will defend those accused of selling fraudulent insurance packages, and a mortgage fraud attorney will represent brokers who allegedly have orchestrated mortgage schemes or set interest rates that cheat customers or extort money.
Depending on the nature of the case, victims of fraud do not usually appear in court. Most of the time, the costs of mounting a lawsuit far outweigh the amount lost. Generally, financial fraud can be handled by the fraud department of the bank or associated credit card company at no cost. Likewise, individuals who are victims of insurance or other fraud need only report this fraud to the government consumer protection agency and wait for the lawyers there to investigate or prosecute the case. Some attorneys will file fraud-related lawsuits on behalf of individuals, but this is uncommon.
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