Question

Step 1 - Create a document defining the elements and types of fraud and providing supporting examples.

Include information about what constitutes fraud, what makes up the various types, and specific examples of cases in these categories. U

se a variety of resources. Make sure to properly cite any resources used.

Answer 1

Fraud

Definition:

-fraud is defined as a wrongful deception with the intention to gain personally or financially .

-A person who pretends to be something or someone he is not .

Types of fraud :-

1 Cheque fraud - payment made using cheques which doesn't have enough bank balance.

2 Internet sales - involve selling fake items or taking payment with no intention to ship or deliver the product.

3 Charities fraud - Criminals solicit people to make donations to various cause that actually don't exist.

4 Identity theft - it robs victims of their money, credit rating, personal identity. Criminals obtain credit card bank details and personal informations and use these for Personal gain.

5 Website misdirection - found now a days as there is technological advances. They will redirect the website without the user intention to do so and commit fraud .

6 Work from home scams - work will be provided to do from home type like data entry or page typing etc , and the promised payment after the work done and returned will not be paid .

7 Pyramid scheme - fraudulent activities like the money chain .

8 Credit card fraud - like identity fraud

9 insurance fraud - collection of money in name of insurance and not giving back when the claim is made .

10 debt elimination