Fraud What is a Fraud? A fraud is when one party deceives or takes unfair advantage of another. A fraud includes any act, omission, or concealment, involving a breach of legal or equitable duty or trust, which results in disadvantage or injury to another. In a court of law it is necessary to prove that a false representation was made as a statement of fact, that was made with the intent to deceive and to induce the other party to act upon it. It must be proven that the person who has been defrauded suffered a injury or damage from the act. Who commits a fraud and why? It is generally accepted that 20 percent of employees are honest. Another 20 percent are dishonest and don't mind doing wrong. That means the remaining 60 percent are potentially dishonest, that's a total of 80 percent of employees which may be dishonest. To understand fraud you first have....

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Number Of Words: 1484

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