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- Dictionaryfraud/frɔːd/
noun
- 1. wrongful or criminal deception intended to result in financial or personal gain: "he was convicted of fraud" Similar
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Learn the meaning of fraud as a noun, with synonyms, examples, and word history. Fraud is a deliberate perversion of truth or a misrepresentation of something to deceive or cheat another person.
- What Is Fraud?
- Understanding Fraud
- Legal Consequences of Fraud
- Types of Financial Fraud
- Prosecuting Financial Fraud
- The Bottom Line
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Fraud is an intentional act of deceit designed to reward the perpetrator or to deny the rights of a victim. Some of the most common types of fraud involve the insurance industry, the stock market, and the mortgage market, but the targets usually include individuals as well as businesses.
Any fraud involves falsification, either by withholding important information, lying, or faking documents. Often, the perpetrator of fraud knows something that the intended victim doesn't know. At heart, the individual or company committing fraudis taking advantage of information asymmetry. The victim cannot or does not try to verify the false info...
If there is no criminal proceeding, a victim of fraud can pursue a civil case. This can result in money being recovered or rights reestablished. Proving that fraud has taken place requires the perpetrator to have committed specific acts. The perpetrator has to provide a false statementas a material fact. The perpetrator had to have known that the s...
Financial fraud comes in many varieties, with the most common including mortgage fraud, insurance fraud, and securities fraud. Common mortgage fraud schemes include identity theft and income or asset falsification by mortgage applicants. Industry insiders may dupe the system via appraisal fraud or so-called air loans , which are applications for mo...
Fraud can have a devastating impact on investors. In 2001, a massive corporate fraud was uncovered at Enron, a U.S.-based energy company. Executives used a variety of techniques to disguise the company’s financial health, including the deliberate obfuscation of revenue and misrepresentation of earnings. After the fraud was uncovered, shareholders s...
Fraud artists commonly target businesses like insurance companies and banks, but they often need to involve innocent individuals to pull it off. Identity theft involves using other people's personal information to steal items of value. Securities fraud means conning individual investors into buying stock based on false information. Plenty of govern...
Fraud is an intentional act of deceit to illegally or unethically gain at the expense of another. Learn about the common types of fraud, such as mortgage, insurance, and securities fraud, and the legal and civil consequences of fraud.
Fraud is the crime of getting money by deceiving people, or a person or thing that is not what it claims or pretends to be. Learn more about the meaning, synonyms, collocations and translations of fraud from Cambridge Dictionary.
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.
Learn the definition, causes and categories of fraud, a crime that relies on deception to achieve a gain. Explore the Fraud Triangle, the Fraud Tree and the Report to the Nations, a global study on occupational fraud.
Fraud definition: deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.. See examples of FRAUD used in a sentence.
fraud. [uncountable, countable] the crime of cheating somebody in order to get money or goods illegally. She was charged with credit card fraud. It was said that the property had been obtained by fraud. He helped prevent a $100 million fraud.
