What is the difference between a civil and a criminal charge of fraud?

The difference between a civil and a criminal charge of fraud is that a criminal charge is more serious and carries the potential for punishment. Civil fraud charges are typically brought when a person or business has suffered a financial or property loss due to the action of another person or business. Criminal fraud, on the other hand, is a crime and involves a false statement or representation made with the intent to deceive and cause financial loss. In South Carolina, white collar crime is defined as a crime committed in the business or financial arena. This type of criminal activity includes fraud, embezzlement, money laundering, counterfeiting, stolen property, insider trading, and other related offenses. Civil fraud involves a complaint from one party against another, and the court will determine if the defendant is liable. The punishment could include a civil penalty, restitution, or other damages. Criminal fraud charges are more serious and can result in jail time and steep fines if convicted. Depending on the circumstances, a criminal fraud conviction could also result in someone being required to pay restitution, or face jail time. In South Carolina, the most severe punishment for a white collar crime conviction is a lengthy prison sentence.

Related FAQs

How is a warrant used in a white collar crime case?
What is the difference between tax evasion and tax avoidance?
What are the penalties for health care fraud?
How is securities fraud committed?
How is organized crime related to white collar crime?
What is the intent element of a white collar crime?
How is restitution used in white collar crime cases?
How is a criminal court different from a civil court?
What are the consequences for violating banking regulations?
How do the U.S. and other countries cooperate in prosecuting white collar crime?

What is the difference between a civil and a criminal charge of fraud?

Related FAQs

Related Blog Posts