Welcome to the Investigation Faculty
Fraud is when trickery is used to gain a dishonest advantage, which is often financial, over another person.
There are many words used to describe fraud: Scam, con, swindle, extortion, sham, double-cross, hoax, cheat, ploy, ruse, hoodwink, confidence trick.
These are just a few words you might hear in relation to fraud. Fraud can be committed against individuals or businesses.
Cyber crime is any criminal act dealing with computers and networks (called hacking). Additionally, cyber crime also includes traditional crimes conducted through the Internet.
Welcome to the The Investigation Faculty
- Bank card and cheque fraud
- Bank card and cheque fraud happens when criminals steal your cards or chequebook and gain access to funds in your account.
- Criminals steal your bank cards or cheque book; or they obtain your card or account details, allowing them to take money from your account or run up credit in your name. You’ll usually notice this by seeing unfamiliar transactions on your statements, or suddenly finding that you’ve exceeded your overdraft limit or credit limit and your card is refused when you try to make a purchase.
- Here are some of the ways a fraudster could steal money from you:
- ATM (cash machine) fraud
- A fraudster uses a device to capture your card information as you are withdrawing money from an ATM. The fraudster then uses this information to take money from your account in a shop, online or from an ATM.
- Counterfeit cards
- A fraudster counterfeits your bank card by using a device to capture the card and account information embedded in your card’s magnetic strip. This is often known as ‘skimming’. The fraudster then uses this information to carry out fraudulent transactions in countries where chip and PIN technology is not supported.
- The fraudster may also use this information in transactions where the card doesn’t have to be physically seen by the retailer or merchant. For example, when shopping online; buying goods by telephone or mail order; or using cardholder activated terminals, such as ticket machines.
- Lost or stolen card fraud
- In this case, fraudsters use your card before you are able to report it as lost or stolen. A new or replacement card may also be stolen before you receive it. For example, if you have moved address recently and not had your mail redirected; or if your mail is delivered to a communal mailbox.
- Identity fraud
- A fraudster may have stolen enough information about your identity and financial affairs to take over your account or to impersonate you. The fraudster will gain access to your account after getting through security online, at a bank branch or call centre, or by teaming up with someone inside the organisation that holds your account. If the fraudster can impersonate you, he or she will open accounts in your name and then defraud them.
- Cheque fraud
- Cheque fraud operates in a number of ways. For example, a fraudster pays you for goods or services using a stolen cheque; or deposits a fraudulent or stolen cheque into your account; or steals individual cheques or a cheque book from you.
The Investigation Faculty fulfils its objectives by the following means:
- Promoting the Institute and its work through pro-active marketing and other suitable activities;
- Supporting and promoting the Recognised European Valuer designation of The European Group of Valuers’ Associations both for its own merits and as a means of recruitment to the Institute;
- Influencing and helping to make public policy in areas within its sphere of activity;
- Advice, through the Law and Research and Education and Membership Committees, on appropriate schemes for the advancement of the profession of and the professional education of valuation practitioners under the auspices of the Institute; and
- Provision of guidance and direction on valuation topics for conferences, meetings, seminars, webinars and other events.
The affairs of the Investigation Faculty are managed by the Investigation Faculty Board.
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