What is the difference between civil and criminal fraud?

The difference between civil and criminal fraud is an important one to understand in the context of consumer fraud law in New York. Civil fraud occurs when one individual or entity knowingly withholds, misrepresents, or hides important information from another resulting in a loss of money or property. In this instance, the person or entity harmed by the fraud can pursue financial damages through civil court. Criminal fraud, on the other hand, occurs when an individual or entity knowingly withholds, misrepresents, or hides important information from another that results in a felony or misdemeanor crime. In this case, the person or entity harmed by the fraud is not involved in the lawsuit; instead, the government is the plaintiff. If the defendant is found guilty, they may face criminal charges that can include monetary fines, jail time, and other punishments. It is important to understand the difference between civil and criminal fraud when considering consumer fraud law in New York. This is because the penalties associated with either can vary greatly. Civil fraud cases are handled privately with the hope of seeking financial compensation, whereas criminal fraud cases are handled by the state in an effort to punish those found guilty.

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What is the difference between civil and criminal fraud?

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