Fraud

3237 words, 13 pages

Intro Sample...


The most basic definition of fraud is a deliberate and willful misrepresentation which causes another to suffer damages, usually in the form of monetary losses, and the intention is to deprive another of some right. There must always be the element of intent to deceive in order for fraud to occur. While there are several kinds of fraud, the most common form of fraud appears to be defrauding individuals of money. Fraud can be committed against as few as one person or a small group of persons, to as large as a company or corporations. Fraud averages approximately $260 billion dollars more a year than the street crimes in the United States alone. An average company in the United States loses approximately six percent of revenues a year... View More »

Body Sample...


Common thoughts that supply rationalization for many people are “this is temporary, I’ll put it back before anyone misses it,” “I don’t get paid what I deserve,” and “the company will never miss it.”

Another research source suggests that the fraud triangle could be further enhanced with the addition of a fourth element. In their article, the authors of this body of research ascribe to the inclusion of a fourth element, capability. Capability, as defined by the authors, included the personal traits and abilities of an individual that would play a major role, in the presence of the other three elements, in whether or not fraud might actually occur. The addition of this fourth element would change the fraud triangle, above, to the fraud diamond, below:

TYPES OF FRAUD

Generally speaking, fraud is considered a “white collar” crime, due to most acts of fraud involving complicated financial transactions. There are several different types of fraud. This research paper will address Internet auction fraud, check fraud, credit card fraud, identity theft and confidence fraud are included in most research sources.

Internet auction fraud is typically the selling of a product that is either not delivered at all or is not of the quality listed. It is often accompanied by complaints where customers are lured, by fraudulent sellers, from one legitimate site to another with seemingly better deals. Statistics indicate the total loss in 2005 was $183.12 million and increased to $198.4 million in 2006. One report indicated that internet auction fraud was the most reported ...

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