Category Archives: Consumer Fraud

Six Tips To Help Companies Mitigate Mortgage Fraud Risk

Mortgage fraud is one of the fasting growing financial crimes in US history. Techniques to commit mortgage fraud have grown more sophisticated, resulting in more advanced counter techniques to combat mortgage fraud. In 2005 the FBI reported over one billion dollars in property and loans were lost due to mortgage fraud.

Too often the signs of mortgage fraud for profit or mortgage fraud for property are difficult to spot. Many experts agree that the public is ill-informed of potential mortgage fraud scams, making education and documentation efforts even more crucial. The below six steps are basic steps for companies to take to minimize the risk of becoming a victim of mortgage fraud:

1. Be cautious of property brokers insistent that buyers use a specific lender.

2. Ensure you receive copies of signed documents

3. Hire third-party appraisers.

4. Get referrals for mortgage and real estate professionals with an established record.

5. Never sign documents that have missing information.

6. Take advantage of professional services that report on mortgage fraud and collaborate with the federal government.

By investing your time and being diligent, you will mitigate your business’s risk of become a victim of mortgage fraud. Protecting against mortgage fraud starts with you. If your instincts make you suspicious, follow them.

Maintain Good Records:

In the early stages of the mortgage loan application process it is important for the consumer to get referred to an established professional. Consumers should remember when asked for a signature, never sign documents that are incomplete. In addition, the consumer should receive a copy of documents that are signed. Maintaining good records of conversations, contact information and documents exchanged is important.

Third-Party Appraisers:

Just like it is important to be cautious of property brokers that are specific of using a particular lender so too can a mortgage fraud risk be found when not using a third-party appraiser. The appraisal process if neglected can leave you vulnerable to become a victim of mortgage fraud. Appraisal fraud is often encountered when flipping properties. In these situations an unscrupulous appraiser appraises the property at a much higher value. At which point the buyer resells the property quickly for a maximum profit. To reduce your vulnerability for appraisal fraud, utilize a third party appraiser that is licensed properly and verify the appraiser’s license. Online monitoring systems now exist for appraiser license verification.

Mortgage Fraud Professional Services Reports:

Technology can play a complementary role to your efforts to find potential mortgage fraud patterns. Mortgage database software can also help uncover mortgage fraud patterns. A mortgage fraud report is an example of mortgage database software in action. These reports are professional services reports that can be beneficial for mortgage industry professionals. National mortgage fraud databases can help diligent mortgage industry professionals better protect against the risk of mortgage fraud.

Future Considerations for Mortgage Fraud:

When mortgage fraud occurs it is far reaching and impacts the real estate industry and the overall economy. The above were tips and considerations for current issues within the mortgage fraud industry. What will be the future significance of mortgage fraud, loan fraud, appraisal fraud, mortgage lending fraud, and mortgage database software onto the mortgage and real estate industry?

Michelle Thiel is an advocate for the information industry with an interest in mortgage fraud, loan fraud, appraisal fraud, appraiser license verification, and mortgage database software.

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Discover Wrongful Cancellation Attorneys Chicago

Justin London (JLondon) Law is trustworthy attorneys Securities Law Chicago. We manage many types of situation like client fraudulence, investment, securities, worker discrimination, individually injured also person whoever civil-rights tend to be broken by other individuals. W are 24 x 7 designed for our clients. We’re in contrast to other lawyers, which wants to make clients but try not to want to be in touch with all of them. We have been based in Chicago, IL. Our consumer protection attorneys designed this webpage to make available the information you need to protect your self from customer fraud. We also provide accessibility legal solutions to help you combat consumer fraud and also to acquire payment regarding accidents brought on by customer fraudulence. Customer Fraud is misleading business practices, which is perpetrated by companies with all the intention to obtain economic advantage at the expense of consumers. Our customer Fraud Lawyers Chicago has actually effectively solved plenty customers claim and helped our customers to recover their monetary losses.

If you have been fired recently, while believe you’ve probably lost your work for an unlawful reason, you could have a right to create a claim for wrongful termination against your previous manager. Appropriate solutions that could be open to you consist of money damages and, when you yourself haven’t already been formally introduced however, negotiation for a suitable severance package that includes compensation. Employers have significant amounts of latitude in terminating employees; you can find laws set up that protect staff members from discrimination and wrongful release. JLondon provides Wrongful Cancellation Solicitors Chicago. These regulations prohibit discrimination on the basis of battle, religion, national origin, impairment, and age, and in some cases, various other certain groups. JLondon believes that customers need to be educated for fraudulence against them, as well as should operate due to their legal rights whether by pursuing an individual or class action claim as soon as the realities warrant seeking these types of an action. We also think customers should really be compensated for injury brought on by flawed or deceptive services and products. On a yearly basis numerous ındividuals are scammed for vast amounts of dollars by unscrupulous organizations and businesses. For all these issues we have been here to deal with you. Our Class Action Securities Chicagoand Fraud Lawyers Chicago

We have hardworking teams of solicitors. They give you professional legal services for individuals that think they have been addressed unfairly by a business. We have attained effective resolutions in several course activity lawsuits involving issues such as:

If you will need an advice about Class Action Securities Chicago or looking information Fraud Lawyers Chicago, Contact right now to Justin London:
Law Offices of Justin London, 1920 N. Maud, Ste. A, Chicago, IL 60614
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Justin London devoted to give you most useful services within spending plan and also follow your time and effort restriction. Wrongful Termination Attorneys Chicago work vigilantly to deal with your concerns and secure your trust.

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Structure of Car Lease Fraud

I really hope the economic downturn just isn’t beating you up also poorly. Clearly it’s using its cost on several areas of the economic climate, one of that is vehicle dealers.

I might hope that vehicle dealers will combat their solution of downturn with honest and truthful sales and service, and undoubtedly some will. But there will be those who cannot, and certainly will switch as an alternative down the dark road of deceiving consumers. To avoid against these dealers that deceptions, we offer the guidance and understanding as entirely on my blog plus a number of articles We have written for all journals.

One section of automobile dealer fraud we continue steadily to see a substantial amount of involves fraud in car leases. Even with the recession, dealers are still able to request financing for automobile leases, and car leases are frequently more expensive for customers, although they look as cheaper at first glance.

The classic lease fraudulence could be the “bait and switch,” in which a consumer would go to a dealer purchase a car and thinks he is purchasing a motor vehicle, it is as an alternative switched into a lease. Often dealers will inform consumers that they should subscribe to a lease “for a short while” to allow rates of interest come-down, or other malarky, and promise to alter the deal to a purchase offer “in a couple weeks.” If the customer comes back “in 2-3 weeks,” the salesperson who negotiated the rent with him is no place can be found no one within dealership has actually any fascination with changing the consumer in to the guaranteed purchase transaction.

There are various reasons why dealers would like to place you into a lease in the place of a purchase. To begin with, dealers frequently get bigger motivation bonuses from the leasing businesses to place consumers into a lease, so dealers usually earn more income through the loan providers on leases. Same using the manufacturers: based on the proceedings with vehicle stock, producers will most likely offer dealers incentives to put consumers into leases as opposed to purchases. Eventually, rent contracts are complicated, allowing dealers to put even more curveballs into the lease which bring about higher hidden fees and repayments by the consumer.

Currently, as of today, GM product sales are down by over 40percent and Ford product sales tend to be down by over 30%. I do perhaps not understand the current standing of Chrysler product sales, but it’s probably similar. GM and Ford come in a posture in which they, and their dealers, is going to do just about anything to move cars off the great deal. As mentioned above, there are truthfully quite a few dealers who’ll respond to current pressures with truthful methods of promoting car sales, but there’s also those that will respond dishonestly.

I actually do have a couple of guidelines if you are concerned about becoming switched into an automobile rent, or you tend to be puzzled as to whether you will end up paying more for a lease than for a purchase. Below are a few recommendations and tips:

1. Understand that, with a lease, you are not purchasing the car. You are borrowing it, or leasing it, for a longer period of time, and a lease price actually has much in accordance with leasing a vehicle. You will find often concealed fees at lease end which could make a seemingly less-expensive rent really set you back even more. You will find concealed charges for extra mileage and wear and tear towards the vehicle. If you know you drive 25,000 kilometers annually, your lease should reflect you drive 25,000 miles annually. If you lease a car with a lease allowance of 15,000 kilometers a year, you will be penalized seriously at rent end for additional 10,000 miles a year.

2. It will be practically impossible to describe all ways a lease can be more pricey than a purchase. First and foremost, you may be buying absolutely nothing other than using the car for some time within certain mileage limits, nothing more. You are not purchasing any ownership desire for the automobile. Immediately, a lease is usually higher priced because you haven’t any trade-in at lease end. Many ındividuals are perplexed because they think they may be able trade in a lease at lease end and enjoy credit, as though they owned the automobile. This isn’t real.

3. At rent end, when you yourself have any outstanding obligation regarding the lease (mileage penalty, problem penalty, unpaid rent repayments), they are frequently rolled to your after that car acquisition or lease. View your contract very carefully to ensure that you get a fair package on the next buy or lease.

4. I would recommend to any or all of my consumers they maybe not signal any such thing on the spot during the dealership. Take the lease or acquisition agreement house and digest it overnight. Discuss it with a pal or a spouse. Discuss it more often than once. If customers took this task alone and nothing much more, they’d likely stay away from much of the fraudulence and monkey company at dealers since they would not be signing documents in a pressurized circumstance, after having already been worn-down by hours in the dealership.

In the event that you, or friends, have any additional concerns on leases as well as the potential for lease frauds, kindly try not to think twice to contact us. And, if you have been cheated on a lease, please think over united states for your solicitors to solve the situation.

Robert F. Brennan, Esq. is a principal with Brennan, Wiener & Associates, an AV-rated law practice in La Crescenta, CA.  His company focuses primarily on consumer protection litigation, including lemon law, automobile dealer fraudulence and customer course activities.  He can be achieved through his internet site:

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Retail Fraud On The Rise

According to a report released by LexisNexis, United States retailers are suffering from $ 191 billion in fraud losses every year. Actually, the average merchant will be subjected to almost ten times the identity theft of financial institutions.

The retail industry is currently suffering from $ 100 billion in losses as a result of identity theft; that number is pumped up to $ 191 billion when you factor in lost and stolen merchandise. Stores lost more than twenty times the consumer fraud losses which came to about $ 4.8 billion in 2008.

“The total impact of retail fraud is versatile and extensive as this crime claims multiple victims,” said Jacob D. Almeida, Vice President of Risk Solutions and overseer of corporate markets. “We are seeing huge increases in identity fraud overall as well as increases in the better known fraud categories like chargebacks. With the recession and increasing sophistication in criminal fraud methods, it is imperative that merchants and financial institutions work together to cut back on fraud.”

Here’s the skinny on the various types of fraud affecting merchants: identity fraud or fraudulent transactions claimed the majority of the cost of fraud, representing 52 percent of total fraud losses. Also, it was some merchant groups in particular that suffered the damage. Large eCommerce retailers lost 40%, an upsurge from last year.

Merchants specializing in telecommunications, online gaming and social networking sites reported 64 percent to 67 percent of their total yearly fraud loss as a result of identity fraud. Digital goods merchants attributed 54% of their fraud loss to unauthorized purchases. Furthermore, one in five retailers reported an increase in unauthorized transactions associated with identity fraud.

Credit card crimes continue to sharply rise, but it has been alternative payment systems such as online and mobile payments that have been a confusing source of losses for some major stores. Finally, there’s “friendly fraud,” where a customer places an online purchase with their credit card, then issues a chargeback after getting the purchase. This accounted for more than one third of overall fraud for online merchants.

Mallory Megan works for Rapid Recovery Solution, a medical collection agency. Looking for subrogation? Hire debt collectors.

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The Smart Consumer’s Guide to Buying a Used Car

The new millennium has thus far been a decade of rampant consumer fraud. Shrewd companies and salespersons cook up new way to rip off the public on a daily, if not an hourly basis. Concealed collision damage, rolled-back odometers, “laundered lemon” cars, where the manufacturer has repurchased the vehicle under lemon laws and then neglected to disclose the car’s history to the next buyer, used cars sold as new – these are just a few areas where dealerships and manufacturers are frequently committing fraud against consumers. My firm, by the way, specializes in representing consumers who have purchased “lemon” vehicle or who have been the victims of car dealer fraud.

This short piece is designed to assist you in buying a used car, providing you with the proper tools to protect yourself from being ripped off on your next purchase. PLEASE PRINT THIS ARTICLE OFF AND CARRY IT WITH YOU WHEN YOU GO OUT TO PURCHASE YOUR NEXT USED CAR. SHOW IT TO THE USED CAR SALES-PERSON IF HE OR SHE BALKS AT PROVIDING YOU WITH ANY OF THE REQUIRED INFORMATION. I just purchased a used car with excellent results, and I am not an expert mechanic; rather, I’m just a shrewd consumer, which is an outgrowth of the fact that I’m a shrewd and effective consumer lawyer. The following tips, if followed, are much more likely to result in a satisfactory used car purchase.


1) Always insist on a warranty. “As-is” can easily be translated into legal jargon as, “You’re stuck, sucker.” Even a 30- or 10-day warranty is better than just “as-is”.

2) Insist that the dealer print on the warranty, in bold letters, “THIS CAR HAS BEEN INSPECTED FOR COLLISION DAMAGE AND COLLISION REPAIRS AND HAS BEEN FOUND TO BE FREE OF COLLISION DAMAGE OR REPAIRS.” This then becomes a part of the warranty.

3) Insist that the dealer prints on the warranty, in bold letters, “THIS CAR HAS NOT BEEN RETURNED TO A DEALER OR MANUFACTURER BECAUSE OF LEMON LAW DEFECTS OR COMPLAINTS.” If the dealer can run a warranty service print-out, insist that they do so and attach it to the warranty itself, with an additional message printed on the warranty: “THE ATTACHED WARRANTY SERVICE HISTORY REPRESENTS THE COMPLETE WARRANTY HISTORY FOR THIS CAR, ACCORDING TO ALL MANUFACTURER’S RECORDS.”

4) You will receive an odometer disclosure statement as part of the vehicle purchase. If there is any inscription on it such as “TMU” (stands for “true miles unknown”), watch out: this car’s odometer has probably been tampered with.

5) Insist upon a test drive of at least 10 miles. Insist on driving the car in varying road conditions: city streets, highway, straight and curvy roads both. Really shrewd consumers arrange to have a friendly professional mechanic, not affiliated with the selling dealership, to accompany them for the ride. Paying a friendly mechanic $ 50.00 to do the test-drive can spare you a lot of heartache later on.

6) Before you buy, have the car inspected by a non-dealer-affiliated professional mechanic. The friendly professional mechanic who accompanied you on the test drive should do just fine for this. Have the car thoroughly looked over, as you will probably be depending on the vehicle, especially for its safety and dependability, for the next several years. Later on, anything beyond routine maintenance expenses will prove galling, so know what you are getting into up front.

7) Do research. You may like the looks of the car, but it pays to check out the vehicle’s service record with Consumer Reports or on the Internet. See the National Highway Traffic Safety Administration site (search under “NHTSA”) for warranty, defect and repair information about any car you are considering buying.

8) Although they are controversial, I recommend buying an extended warranty, particularly if you intend on keeping the vehicle for a long time.

That’s the checklist, which should provide joy rather than grief in most cases. It’s your insurance policy, so print it out and carry it with you when you next make a used-car purchase. Check off each number as you complete that step of the list; then you’ll stand a much better chance of not becoming the victim of a fraud in a used car sale.

I will now explain some issues concerning the documentation normally accompanying a used-car sales transaction, including points to keep your eyes peeled for and some definite red flags that signal you not to buy that car.

All dealerships try to put off the documentation step for the end. Whenever I buy a used car, I insist that the documentation step be done first. In short, after I’ve become interested in a car, I want to see the documentation then and there, before I begin discussing sales terms. All dealers have “dealer jackets” containing all documents for each separate car on the lot. Review these papers first, and only then go for a test-drive and mechanical inspection.

At the time of the sales close, you can expect that the salesperson or a clerk will present you with a stack of fine-print documents which would take a week to read. No one – not even an experienced lawyer – can read all of those documents in a short time. However, you must at least glance at these documents, and keep an eye out for the following pertinent information:

The “Odometer Disclosure Statement”

This is a document required by federal law to accompany all sales of used cars. Read it, and make sure the dealership signs it, for by doing so the dealership is certifying that the actual miles on the car are accurately reflected on the odometer. If the “Odometer Disclosure Statement” has an entry such as “TMU” (which stands for “True Miles Unknown”), or “Actual Miles Unknown”, or any such entry, don’t buy the car! In all likelihood, the vehicle has more miles on it than what is actually showing on the odometer.


The “Buyer’s Guide” is the window sticker on a used car which shows whether the car comes with a warranty. My firm suggestion to all used car buyers: only buy cars with warranties. Do not buy cars “as-is.” The salesperson will frequently tell you that some little old lady only drove the car to and from church, and that dealership knows the service history of the car because that’s where it was serviced, etc., etc.–it’s all a pile of prairie pickles. If you buy a car “as-is”, expect to be ripped off. Expect problems with the car. When a dealership sells a car “as-is, it is telling you clearly that it wants no further responsibility for the vehicle as soon as you drive it off the lot. And if the dealership doesn’t want any responsibility for the car, what does that tell you about the vehicle?

The moral of the story: buy cars with warranties, even if the warranty is for only 30 days. Warranties give you rights in case the car was sold to you fraudulently or it turns out to be a lemon. When you buy a car “as-is”, that may be the end of the line for you as far as pursuing any fraud or lemon-law claim.

The ‘Warranty History”

You have to request this, and you should request it. Many dealerships have access to the warranty history of the cars they sell, and particularly in the case of new car dealerships for the same make of vehicles. For example, if you are buying a used Chevy from an authorized Chevy dealership which services and sells new Chevys, then that dealership has computerized access to the warranty history of the car. This means that you can learn of any repairs done to that vehicle while it was under its original warranty. You can quickly learn if the car was a lemon by its warranty history.

If you don’t understand the “warranty history”, have some knowledgeable explain it to you. Make sure you understand it before you buy the car.

And, insist that the “warranty history” be attached to the warranty itself, with a representation that it represents the complete warranty history for that car. This then gives the consumer additional legal rights if it turns out the vehicle was sold fraudulently or it is a lemon.


If you are given anything called a “Disclosure Notice”, or the like, BEWARE!!! Read over all the documents to ensure that you are not being sold a recycled, or “laundered”, lemon. Anything called a “Disclosure Notice” which discusses the mechanical condition of the car is a red flag to back out of the deal and leave the dealership. You do not want to buy a “laundered lemon” – it will likely cost you more trouble than you ever imagined possible. In short, don’t buy a car if there’s any indication that it’s a “laundered lemon.”

The above, then, are the basic documents you must keep your eyes peeled for. In fact, for your own protection you must demand to see them. The dealership may not have the “warranty history”, but it should have all the others.

Robert F. Brennan, Esq. is a principal with Brennan, Wiener & Associates, an AV-rated law firm in La Crescenta, CA.  His firm specializes in consumer protection litigation, including lemon law, car dealer fraud and consumer class actions.  He can be reached through his website:

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Consumer fraud survey

< object kind="application/x-shockwave-flash" style="width:425 px; height:355 px;" information ="//" >< param name="flick" worth ="//"/ > < param name="allowscriptaccess" value="always"/ > The Australian Institute of Criminology carries out an on-line survey on part of the Australasian Consumer Fraud Job force (ACFT) to analyze consumer fraud experiences of those who prefer to participate. Between 2007 and 2011, the studies looked for reactions from interested individuals worrying their experiences in the coming before Twelve Month. It reveals the percentage of participants that obtained a minimum of one rip-off invitation by the different distribution media.
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Combating Consumer Fraud

In this week’s message, Chief law officer Eric Owner described the Justice Division’s job to safeguard consumers from scammer by checking out banks and also third party processors that aid in, or willfully neglect, deceitful behavior. In the days in advance, the Justice Department will certainly maintain moving forward – led by the truths and the regulation – to get rid of scams targeting customers while mitigating any kind of influence on establishments not under investigation. Eventually, the goal of these examinations is to secure customers from scammer as well as collaborating institutions-and to secure straightforward, industrious Americans from those who place their economic safety and security at risk.
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