Fraud victims often feel embarrassed, humiliated and helpless once they realize that they have been victimized. Business, internet and other fraud schemes are so pervasive that the FBI has outlined and notified the public of four categories of fraud schemes, each of which may target a business as well as an individual, as (1) Common Fraud Scams, (2) Investment Related Scams, (3) Internet Scams, (4) Senior Citizen Targeted Scams.
From a legal standpoint, a fraud occurs in Florida when: (1) a person makes a false statement regarding a material fact; (2) that person knew or should have known that the representation was false; (3) that person intended that the representation induce the other party to act on it; and (4) the other party suffered damages in justifiable reliance on the representation. Jackson v. Shakespeare Found, Inc., 108 So.3d 587, 595 (Fla. 2013). Small businesses may be defrauded by vendors, suppliers, creditors, customers, employees and others. One of the most common and devastating sources of small business fraud in Florida occurs between and among business partners.