BNET Business Dictionary
Business Definition for: Fraud
- the use of dishonesty, deception, or false representation in order to gain a material advantage or to injure the interests of others. Types of fraud include false accounting, theft, third party or investment fraud, employee collusion, and computer fraud.
- See also Corporate Fraud
Wiktionary Definition for: Fraud
- An act of deception carried out for the purpose of unfair, undeserved, and/or unlawful gain, esp. financial gain.
- Such an act injurious to another.
- One who performs such an act.
Additional Resources
- Card fraud losses down 23 per cent to 232.8m in first half of 2009
- You are here: News / Card fraud losses down 23 per cent to 232.8m in first half of 2009 First ever fall in card-not-present fraud losses Financial Fraud Action UK reveals. The fraud to turnover rate on debit and credit cards amounted to 0.1 per cent in the first half...
- News items 2009-10-07
- Botnets Tied to Increase in Click Fraud
- A report by Click Forensics links a growing amount of click fraud to botnets. The increase in botnet-related activity follows an overall upsurge in click fraud in the third quarter of 2009. New research from Click Forensics shows botnets are playing a growing role in the spread of click fraud. Click fraud...
- News items 2009-10-22
- Financial Fraud Crosses Delivery Channels, Expands In Traditional Areas
- Fraud experts sometimes compare chasing financial crime to squeezing a balloon -- the air just moves to the other side. Similarly, as financial services providers have put a squeeze on fraud online, crooks have just moved their game to other channels. Thieves are increasingly seeking less-protected “traditionalâ€...
- Blog posts 2008-12-15
- Mortgage Fraud on the Rise
- Home sales and home values may be down. But mortgage fraud continues to grow. According to a just-released report from the Mortgage Asset Research Institute MARI, reported incidents of mortgage fraud are at an all time high, increasing 26 percent between 2007 and 2008. ...
- Blog posts 2009-03-27
- Facebook's Click Fraud Scandal Grows with Second Lawsuit
- Reading this morning about a second Facebook click-fraud suit should leave anyone interested in the social network's monetization model queasy. What this complaint, from the software company Unified ECM, and one from earlier this month, alleges, is that Facebook is charging advertisers for "non-existent, fraudulent or invalid clicks." (As many...
- Blog posts 2009-07-29
- A Comparative Analysis Of The Standard Of Fraud Required Under The Fraud Rule In Letter Of Credit Law
- This article explores the kind of fraud required to invoke the fraud rule or, in other words, what does fraud mean under the fraud rule in the law governing letters of credit? This is a challenging question because fraud is an "inherently pliable concept." Some argue that the fraud rule...
- White papers 2003-01-01
- Prepaid Telecommunications Fraud - Techniques And Detection
- Telecommunications fraud costs carriers billions of revenue dollars annually. With the introduction of 2G, 2.5G, and 3G technologies, many people in the telecom carrier community believe that their future potential fraud will be substantially mitigated. Unfortunately that belief is far from reality. Although many forms of technical fraud are becoming...
- White papers 2003-06-01
- Burden of Proof for a Legal Fraud Claim Is Confused and Unsettled
- Legal fraud consists of (1) a material representation of a presently existing or past fact, (2) made with knowledge of its falsity and (3) with the intention that the other party rely thereon, (4) resulting in reliance by that party (5) to his or her detriment. Until the mid-1980s, the...
- White papers 2002-10-07
- Fraud Prevention Strategies for Internet Banking
- This white paper was created by specialists in Internet risk management under the direction of the BITS Internet Fraud Working Group. The Group's purpose is to address Internet fraud, a specific and costly subset of the overall fraud threats faced by financial institutions.This paper focuses on the most frequent methods...
- White papers 2003-04-01
- Adelphia 5 makes pleas, hint they'll blame board.(five former Adelphia Communications Corp. executives indicted on charges of conspiracy, securities fraud, wire fraud and bank fraud)(Brief Article)
- NEW YORK--The five former Adelphia Communications Corp. executives indicted on charges of conspiracy, securities fraud, wire fraud and bank fraud last week entered innocent pleas--and signaled that their defense strategy will be to place blame on t NEW YORK--The five former Adelphia Communications Corp....
- Research articles 2002-10-07
- The Benefits of a Fraud Hotline
- This article is mainly a case-study which showers light upon the problem faced by companies wrt fraud. Various solutions have been discussed in this article.The two actual cases summarized above highlight the increasingly serious problem of fraud in the workplace.Consistent with the cases cited earlier, the report also indicates that:...
- Case studies 2003-07-01
- BasePoint Analytics Expands Fraud Consulting Business; Paul Collins, Industry Fraud Expert and Prior Capital One Executive, Will Provide Strategic Fraud Services to Financial Services Companies
- CARLSBAD, Calif. -- BasePoint Analytics, a leading provider of fraud analytics and fraud consulting services to the financial services market, today announced that Paul Collins has joined the company's consulting services organization as Director of Fraud Consulting. Paul will join the company's other fraud consulting experts in assisting clients with...
- Research articles 2005-09-19
- Financial fraud study shows patterns.(FRAUD)(Report)(Brief article)
- Despite increasingly stringent legislation aimed at combating fraud and increased enforcement efforts by the U.S. Securities and Exchange Commission SEC, financial statement fraud remains a public concern. To learn how fraud schemes have evolved si Despite increasingly stringent legislation aimed at combating fraud and increased...
- Research articles 2007-09-01
- BasePoint Analytics Hires Former Senior Fraud Executive from Wells Fargo; New Team of Fraud Reduction Experts Helping Lenders Combat Fraud around the World
- CARLSBAD, Calif. -- BasePoint Analytics, a leading provider of fraud analytics and fraud consulting services, today announced that Ms. Georganne Rosenberger has joined the company's consulting services organization. Ms. Rosenberger will provide fraud strategy, benchmarking and operational best practices to BasePoint Analytics' growing base of credit, retail and mortgage lending...
- Research articles 2005-07-06
- BasePoint Launches New Services to Help Mortgage Lenders and Investment Banks Fight Fraud
- Enhanced Fraud Review and Organizational Framework incorporate best practices to streamline fraud detection processes and identify more fraud CARLSBAD, Calif. -- BasePoint Analytics, a leading provider of scientific fraud analytics and consulting services, today announced the availability of two new fraud consulting services - Enhanced Fraud Review and Fraud...
- Research articles 2007-04-24
- Seven Ways to Protect Your Business From Identity Fraud
- Here's a sobering thought for you: More than a third of British small firms have been targeted by identity fraudsters and suffered financial loss as a result. Maybe you were aware of the fact identity fraud is the fastest growing crime in the UK, but just thought it was one...
- Blog posts 2009-10-15
- The Auditor and Fraud
- The article discusses about the auditors responsibility in case of any fraud. It explains different statements like Statement on auditing standards no. 82, Consideration of Fraud in a Financial Statement Audit. It provides expanded operational guidance on the auditor's consideration of material fraud in conducting a financial statement audit. Auditors...
- White papers 1997-04-01
- Recognizing the Elements of Fraud
- The article looks at overall issues associated with fraud, and some of the many fraud risks involved. However, this article on recognizing the elements of fraud is meant only to inform. It is not a substitute for professional legal advice. It comes to inform that fraud can be for the...
- White papers 1995-01-01
- Management Fraud Risk Factors: Ratings By Forensic Experts
- SAS 82, Consideration of Fraud in a Financial Statement Audit, identifies 25 risk factors within three categories that auditors should consider when assessing the risk of management fraud in a financial statement audit. It sets the standards for auditors' assessment of management frauds. Management is responsible for creating a system...
- White papers 2001-01-01
- Defending Yourself Against a Fraud Claim Arising Out of a Contractual Relationship
- When a business or other contractual relationship sours, resulting in economic loss and hard feelings, it is a safe bet that litigation will follow. Although highly difficult to prove, fraud claims can lead to significant risks, burdens and expenses that might not exist with respect to a run-of-the-mill breach of...
- White papers 2003-05-20
