The definite legal meaning of fraud varies from legal jurisdiction to legal jurisdiction. However, fraud typically defines itself in law as an intentional misrepresentation of material existing fact made by one party to another, but with knowledge of its falsity resulting to injury and/or damage of the other party who relies upon it. Purposely failing to state material facts – also known as nondisclosure – makes statements already said misleading to the other party. Fraud is as a crime, as well as a civil law violation. Nevertheless, for a person to constitute what fraud actually is, it is crucial to understand the elements behind fraud, how fraud can be committed, the different types of fraud, and the possible defects due to fraud.
As a physical human activity, fraud can be hard to establish, but the legal elements of fraud are more readily defined. Stated generally, the elements of fraud include; misrepresentation of material fact, made with knowledge of it falsity, made with intent to induce the victim to rely on the misrepresentation, the victim relies on the misrepresentatio...
The Pardoner is the best representation of an allegorical character in “The Prologue” of Geoffrey Chaucer’s The Canterbury Tales. The Pardoner is the perfect personification of fraudulence. He shows this in three basic ways: his appearance, speech, and actions. If one just glances through the reading of the Pardoner than one will think that he is a good religious man, but if one look further into it than he will find the small double meanings that he is the exact opposite. Chaucer likes to use an allegorical style to add some comedy and sophistication to his writings.
Deception is the intentional use of false representations by an individual through words or conduct; in order to dishonestly obtain an unfair advantage for self or another by inducing the victim to transfer a benefit or inflict a detriment upon the victim. The intention to deceive is the supportive fault element.
Fraud—“Any intentional deception designed to unlawfully deprive the Air Force of something of value or to secure from the Air Force for an individual a benefit, privilege, allowance, or consideration to which he or she is not entitled.
Now, aside from lying in court, and aside from lying to avoid chores, a deceiver must, therefore, face legal prosecution if the lie can be undeniably interpreted as a verbal agreement; and is of such a detrimental natural, that it has inflicted either, or both, financial hardship or personal damage upon
When discussing health care fraud we need to know what exactly we are discussing. There are many different types of health care fraud. This paper will give an overview of the five major types of health care fraud. The different types occur on both the patient/consumer level and at the provider level. According to the Centers for Medicare & Medicaid Services (CMS) the five major types of health
A deception is a form of a lie. Scams are similar to deception in the way that each are lies and are used to achieve the same goal. They are used to gain something about an individual whether it is trust, money information of some kind or simply
In America, simply having a job is not enough. Nowadays, jobs are hard to find and most only offer part-time employment. It is near impossible to afford the cost of living while earning entry-level wages. The job market has become hostile, and it has gotten to the point that one must have formal training or a marketable education in order to obtain a stable position that offers decent wages. With this realization, many people have decided to go to college. Those that are in the market for a college education face many choices. The most common: community colleges, which do not make a profit, and technical schools or online schools, which are in the business to make a profit. These schools are called for-profit schools. Many people do not realize how important it is to shop around when debating which school to attend. Nowadays, one must get an education about their education. For profit colleges, such as Everest College, gain their profits by using high pressure sales tactics, manipulation, and fraud, and offer no benefits for college students.
Hanson, J. R. (n.d.). Fraud or confusion? RDH Magazine, 19(4). Retrieved 3 15, 2014, from http://www.rdhmag.com/articles/print/volume-19/issue-4/feature/fraud-or-confusion.html
Weld, L. G., Bergevin, P. M., & Magrath, L. (2004). Anatomy of a financial fraud. The CPA
Accounting fraud refers to fraud that is committed by a company by maintaining false information about the sales and income in the company books, when overstating the company's assets or profits, when a company is actually undergoing a loss. These fraudulent records are then used to seek investment in the company's bond or security issues. By showing these false entries, the company attempts to apply fraudulent loan applications as a final attempt to save the company by obtaining more money from bankruptcy. Accounting frauds is actually done to hide the company’s actual financial issues.
Fraud in charitable organizations occurs when legitimate organizations or the individuals working for the organization misuse donations, or when illegitimate organizations or individuals collect donations on behalf of a sham organization. Perpetrators of charity fraud prey on the generosity of their donors through a variety of means. Some individuals may try to get the attention of a passerby on the street requesting cash for the hungry or disabled while others may use telemarketing scams in which the perpetrator tries to convince the potential donor of their legitimacy and the immediacy of financial need for a worthy cause. Yet, the most u...
It includes an employee or the organization and is deceptive to shareholders and investors. An organization can misrepresent its financial statements by exaggerating its income or resources, not recording costs and under-recording liabilities. A number of categories and sub-categories can be divided up for fraud. Some examples are consumer fraud, management fraud, employee embezzlement, Ponzi schemes and numerous
In today’s day and age, there is a lot of news that is related to corporate accounting fraud as companies intentionally manipulate their financial statements to show a better picture of their financial health. The objective of financial reporting is to provide financial information about a company to its various stakeholders such as investors and creditors so that these stakeholders can make decisions accordingly. Companies can show a better image of their financial well being by providing misleading information. This can be done by omitting material information from the books or deceitful appropriation of assets such as inventory theft, payroll fraud, check forgery or embezzlement. Fraudulent financial reporting will have an effect on the This includes but is not limited to; check forgery, inventory theft, cash or check theft, payroll fraud or service theft.
Fraud in a very general term is the crime of deceiving a person in order to get them to give up something in value, usually money and usually to the criminal himself or a group of criminals. This paper will be discussing cybercrime fraud, specifically cybercrime auto fraud, the type of scams associated with cybercrime auto fraud, the criminal profile of a cybercriminal fraud, law enforcement initiatives to combat this type of fraud and the penalties that go along with committing this type of fraud.
For those who do not know what fraud is, it’s basically deception by showing people what they want to see. In business it’s the same concept, but in a larger scale by means of manipulating figures that will be shown to shareholders and investors. Before Sarbanes Oxley Act there was “Enron Corporation”, a fortune 500 company that managed to falsify their statements claiming revenues over 101 billion in a span of 15 years. In order for us to understand how this corporation managed to deceive the public for so long, the documentary or movie “Smartest Guys in the Room” goes into depth by providing viewers with first-hand information from people that worked close with or for “Enron”.