Fight Back: Business Law Attorneys for Consumer Fraud

Updated: Jan 26

Find A Business Litigation Lawyer for Fraud Claims Against Corporate Entities


Consumer fraud is characterized as an unreasonable, deceptive, or illegal business practice that benefits a corporation or individual at the expense of customers. Banking, insurance, consumer goods and services, manufacturing and distribution of faulty products, and telemarketing are all examples of areas where consumer fraud can occur.


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1. Bank Fraud

Bank fraud is a major crime in California and in the United States. Fraud is difficult to spot. Most people only know they've been scammed after they've lost a significant amount of money. Banking fraud, which can be perpetrated by a bank clerk, financial advisor, or insurance agent representing a bank, affects all customers. An individual convicted of one count of bank fraud faces a federal prison term of up to 30 years.


Banking fraud can take place in a variety of ways:

  • Bank Fraud is the use of fraudulent methods to obtain money or assets from a financial institution is known as bank fraud. Bank fraud is committed by investment advisers, bank managers, and others who appear to be helpful.

  • Tax evasion occurs when an individual or company intentionally fails to comply with their legal obligation to file taxes.

A bank can sell an investment or financial product to a customer without fully revealing all of the product's details, or it can charge illegal and hidden fees in connection with a service.


Surrender costs and fees are not properly or adequately disclosed in insurance, financial or banking products, or savings, such as deferred annuities offered by a bank.


Consider the following examples:

  • Overdraft fees or other costs that the bank has arranged in a specific order to optimize charges to the customer

  • Customers or investors, like senior citizens, who are sold deferred annuities or other unsuitable insurance policies by bank brokers, financial advisors, or bank insurance agents

  • Selling unsuitable investments to customers (which may include insurance products and deferred annuities) is a breach of fiduciary duty. Unscrupulous bank employees who don't strictly follow the "kno