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In law, fraud is intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Although fraud is sometimes a crime in itself, more often it is an element of crimes such as obtaining money by false pretense or by impersonation. 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. Fraud, in law, the deliberate misrepresentation of fact for the purpose of depriving someone of a valuable possession “fraud” is any activity that relies on deception in order to achieve a gain
Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (black’s law dictionary).
The meaning of fraud is deceit, trickery An act, expression, omission, or concealment calculated to induce another to part with something of value or to surrender a legal right. Fraud is defined as an intentionally deceptive action intended to provide the perpetrator with an unlawful gain or to deny a victim’s right Tax fraud, credit card fraud, wire fraud, securities fraud, and bankruptcy fraud are all examples of fraud.
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