Consumer fraud is a type of deceit directed toward consumers by a business entity in an attempt to unlawfully obtain additional financial funds. Consumer fraud can occur in many different ways and involve any portion of a business transaction. For instance, if a company falsely advertises or markets a product, it is guilty of consumer fraud. In addition, if a business entity, such as an insurance agency, financial lending institution, or a business, deceives an individual to enter into an unreasonable or unmanageable agreement, the business entity is guilty of fraud.
It is possible for an individual to notice and combat consumer fraud. An individual should carefully review all associated terms and conditions before entering into an agreement or a business contract. He/she should not make any purchase hastily. In the event that an individual has become the victim of consumer fraud, he/she can file a civil suit against the offending party.