Fraud is theft by means of deception. It may be distinguished from other stealing offenses, such as embezzlement (theft by means of breach of trust), extortion (theft by means of coercion), and robbery (theft by means of force) by the fact that deception is used. Nevertheless, some modern legal statutes define fraud so that the theft may be carried out in some dishonest way that is not deceptive, such as nondeceptive breaches of trust, conflicts of interest, nondisclosure of material facts, exploitation, taking unfair advantage, nonperformance of contractual obligations, or misuse of corporate assets. Normally, the object of fraud is money or property, or something of economic value more generally, such as a service or accommodation of some kind. Hence, fraud is normally theft. ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles