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Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ...
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Insurance Fraud
Insurance fraud is any act committed to defraud an insurance process. It occurs when a claimant attempts to obtain some benefit or advantage they are not entitled to, or when an insurer knowingly denies some benefit that is due. According to the United States Federal Bureau of Investigation, the most common schemes include premium diversion, fee churning, asset diversion, and workers compensation fraud. Perpetrators in the schemes can be insurance company employees or claimants. False insurance claims are insurance claims filed with the fraudulent intention towards an insurance provider. Insurance fraud has existed since the beginning of insurance as a commercial enterprise.Manes, Alfred. "Insurance Crimes."
p. 34.

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Bank Fraud
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. Types of bank fraud Accounting fraud In order to hide serious financial problems, some businesses have been known to use fraudulent bookkeeping to overstate sales and income, inflate the worth of the company's assets, or state a profit when the company is operating at a loss. These tampered records are then used to seek investment in the company's bond or security issues or to make fraudulent loan applications in a ...
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Mortgage Fraud
Mortgage fraud refers to an intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase, or insure a loan secured by real property. Criminal offenses may be prosecuted in either federal or state court, and are typically charged under wire fraud, bank fraud, mail fraud, or money laundering statutes, with penalties of imprisonment for up to 30 years per offense. As the incidence of mortgage fraud has risen over the past few years, states have also begun to enact their own penalties for mortgage fraud. Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud. Types Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the propert ...
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Forgery
Forgery is a white-collar crime that generally refers to the false making or material alteration of a legal instrument with the specific intent to defraud anyone (other than themself). Tampering with a certain legal instrument may be forbidden by law in some jurisdictions but such an offense is not related to forgery unless the tampered legal instrument was actually used in the course of the crime to defraud another person or entity. Copies, studio replicas, and reproductions are not considered forgeries, though they may later become forgeries through knowing and willful misrepresentations. Forging money or currency is more often called counterfeiting. But consumer goods may also be ''counterfeits'' if they are not manufactured or produced by the designated manufacturer or producer given on the label or flagged by the trademark symbol. When the object forged is a record or document it is often called a false document. This usage of "forgery" does not derive from meta ...
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Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ...
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Misrepresentation
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has be ...
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Criminal Law
Criminal law is the body of law that relates to crime. It prescribes conduct perceived as threatening, harmful, or otherwise endangering to the property, health, safety, and moral welfare of people inclusive of one's self. Most criminal law is established by statute, which is to say that the laws are enacted by a legislature. Criminal law includes the punishment and rehabilitation of people who violate such laws. Criminal law varies according to jurisdiction, and differs from civil law, where emphasis is more on dispute resolution and victim compensation, rather than on punishment or rehabilitation. Criminal procedure is a formalized official activity that authenticates the fact of commission of a crime and authorizes punitive or rehabilitative treatment of the offender. History The first civilizations generally did not distinguish between civil law and criminal law. The first written codes of law were designed by the Sumerians. Around 2100–2050 BC Ur-Nammu, the ...
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Tort
A tort is a civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act. Tort law can be contrasted with criminal law, which deals with criminal wrongs that are punishable by the state. While criminal law aims to punish individuals who commit crimes, tort law aims to compensate individuals who suffer harm as a result of the actions of others. Some wrongful acts, such as assault and battery, can result in both a civil lawsuit and a criminal prosecution in countries where the civil and criminal legal systems are separate. Tort law may also be contrasted with contract law, which provides civil remedies after breach of a duty that arises from a contract. Obligations in both tort and criminal law are more fundamental and are imposed regardless of whether the parties have a contract. While tort law in civil law jurisdictions largely derives from Roman law, common law jurisdictions derive their tort law from cus ...
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Deception
Deception or falsehood is an act or statement that misleads, hides the truth, or promotes a belief, concept, or idea that is not true. It is often done for personal gain or advantage. Deception can involve dissimulation, propaganda and sleight of hand as well as distraction, camouflage or concealment. There is also self-deception, as in bad faith. It can also be called, with varying subjective implications, beguilement, deceit, bluff, mystification, ruse, or subterfuge. Deception is a major relational transgression that often leads to feelings of betrayal and distrust between relational partners. Deception violates relational rules and is considered to be a negative violation of expectations. Most people expect friends, relational partners, and even strangers to be truthful most of the time. If people expected most conversations to be untruthful, talking and communicating with others would require distraction and misdirection to acquire reliable information. A significant amo ...
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Hoax
A hoax is a widely publicized falsehood so fashioned as to invite reflexive, unthinking acceptance by the greatest number of people of the most varied social identities and of the highest possible social pretensions to gull its victims into putting up the highest possible social currency in support of the hoax. Whereas the promoters of frauds, fakes, and scams devise them so that they will withstand the highest degree of scrutiny customary in the affair, hoaxers are confident, justifiably or not, that their representations will receive no scrutiny at all. They have such confidence because their representations belong to a world of notions fundamental to the victims' views of reality, but whose truth and importance they accept without argument or evidence, and so never question. Some hoaxers intend eventually to unmask their representations as in fact a hoax so as to expose their victims as fools; seeking some form of profit, other hoaxers hope to maintain the hoax indefini ...
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Material Fact
A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision. Falsification of a material fact that would cause a party to a contract to refrain from entering into the contract may be grounds for rescission. For example, misrepresentation of a material fact on an application for insurance may give an insurance company grounds to rescind an insurance policy. See also *Materiality (law) Materiality is the significance of facts to the matter at hand.Black's Law Dictionary, 7th ed. In the law of evidence An item of evidence is said to be material if it has some logical connection to a fact of consequence to the outcome of a case. ... * Material witness References {{Authority control Legal terminology ...
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Criminal Code (Canada)
The ''Criminal Code'' (french: Code criminel)The citation of this Act by these short titles is authorised by thEnglishantexts of section 1. is a law that codifies most criminal offences and procedures in Canada. Its official long title is ''An Act respecting the Criminal Law'' (French: ), and it is sometimes abbreviated as ''Cr.C.'' (French: ) in legal reports. Section 91(27) of the '' Constitution Act, 1867'' establishes the sole jurisdiction of the Parliament of Canada over criminal law. The ''Criminal Code'' contains some defences, but most are part of the common law rather than statute. Important Canadian criminal laws not forming part of the code include the '' Firearms Act'', the ''Controlled Drugs and Substances Act'', the '' Canada Evidence Act'', the '' Food and Drugs Act'', the '' Youth Criminal Justice Act'' and the '' Contraventions Act''. One of the conveniences of the ''Criminal Code'' was that it constituted the principle that no person would be able to be c ...
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