Fraud, Financial
Protection from the financial and business crime is becoming more necessary as the surge of white-collar crimes in this socio-political climate grow more rampant. The Forgery Act, Chap 11:13 which governs forgery and similar offences is useful in these cases, however the common law elaborates on how to treat with fraud in different circumstance: contract, commercial and corporate activities, tort among other.
Allegations of fraud are detrimental to an individual or company’s reputation. Also, the sanctions for fraud are proportionately severe for the odious crime. Given the complex issues that may arise in fraud cases, parties on both sides must be equipped with adequate knowledge on both sides to avoid unwanted losses in the proceedings. Further, serious financial injury is incurred where a government or major company is defrauded. Hence, greater awareness needs to be given to instances of fraud in a volatile economic climate, as the detestable actions of a few persons can have far reaching consequences on their entire State.