Unmasking Financial Fraud in Guam: A Look into the Types of Forgery and Fraudulent Practices
The tropical paradise of Guam is famous for its beautiful beaches and vibrant culture. However, Financial crime remains a significant concern behind the scenes. In this article, we will take a closer look at the types of forgery and fraudulent practices that have been challenging Guam’s law enforcement.
Guam Laws on Forgery and Fraudulent Practices
Title 9 of the Guam Code Annotated, specifically Chapter 46, addresses Forgery, fraudulent practices, and telephone records. This legislation outlines various offenses related to forgery, fraud, and manipulation of telephone records.
##Forgery
Definition and Punishment: Forgery, as defined and punished under Article 1 of Chapter 46, refers to the false making, completion, alteration, or uttering of a written instrument. This includes checks, credit cards, badges, and other symbols of value. The penalties for forgery depend on the nature of the forged document, with more severe penalties for items issued by a government or financial organizations.
Criminal Simulation
Offense and Penalties: Article 2 of Chapter 46 targets criminal simulation, which involves making, altering, or uttering any object to deceive others because of its apparent antiquity, rarity, source, or authorship. This offense is a misdemeanor.
Other Fraudulent Practices
Chapter 46 also includes articles focusing on:
- Tampering with Records: Articles addressing this offense include Article 10 and Article 12. Individuals found guilty of tampering with records may face various penalties.
- Issuance of Dishonored Checks: Article 22 outlines penalties for issuing dishonored checks.
- Mortgage Fraud: Articles 32 and 33 focus on mortgage fraud and associated penalties.
Anti-Phishing Act
Addressing Online Fraud: As the world continues to evolve into a more digitized society, financial crime has become increasingly sophisticated. To address this, Article 14 of Chapter 46 includes the Anti-Phishing Act. This law aims to protect Guam’s residents from email scams, phishing schemes, and other forms of online fraud. Violators can be charged with a misdemeanor, and the law includes provisions for civil liabilities.
Conclusion
In the next installment, we will discuss the important role of technology in preventing and detecting financial crime in Guam. Stay tuned for more updates on this important topic.