Fraud and financial crimes are a form of theft/larceny that occur when a person or entity takes money or property, or uses them in an illicit manner, with the intent to gain a benefit from it.
It includes forgery, bribery, extortion, insider trading, cybercrime, tax evasion, embezzlement, labor racketeering, copyright infringement, counterfeiting, Ponzi schemes, money laundering and all types of fraud. New Jersey criminal law N.J.S.A. 2C:21-1 prohibits fraudulent actions and deceitful conduct.
With that said, it may be possible to sue banks in small-claims court or through class-action lawsuits. Small claims court involves suing for an amount of money that is often limited to $5,000 or less, depending on state law.
The penalties for fraud in New Jersey are as follows: Disorderly Persons Offenses: $1,000 fine and up to six months of jail time. Fourth–Degree Indictable Offenses: $10,000 fine and up to 18 months of prison time. Third-Degree Indictable Offenses: $15,000 fine and three to five years of prison time.
The New Jersey Consumer Fraud Act (NJCFA) is a written law, applicable to the sale of goods, services and real estate, that bans “unconscionable commercial practice, deception, fraud, false pretense, false promise, misrepresentation, or the knowing concealment, suppression, or omission of any material fact.” The courts ...
Through its regulatory oversight of national banks, the OCC works to implement legislation designed to detect, identify, and prevent financial crimes and fraud.
If you paid by bank transfer or Direct Debit Contact your bank immediately to let them know what's happened and ask if you can get a refund. Most banks should reimburse you if you've transferred money to someone because of a scam.
Getting your money back The bank can refuse to refund you if they find you acted fraudulently or were 'grossly negligent' - for example, if you shared your pin or password with someone else. If the bank won't refund your money, you'll only be able to get it back by taking the person who stole it to court.