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
- 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
- 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
- California Department of Insurance
- This presentation covers Disability Insurance Fraud, Life Insurance Fraud, Embezzlements, Arson for Insurance Fraud, Property Fraud. It explains each and every kind of fraud mentioned above in the best possible way. It also explains some basic do's & don't to avoid getting into such kinds of frauds. It also tells...
- White papers 2003-10-21
- 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
- Wrong Number
- Sniffing out fraudulent transactions can be a matter of common sense. While online fraud tactics are be-coming increasingly sophisticated, preventing credit card fraud doesn’t have to require expensive monitoring tools. Much of fraud prevention lies in knowing how fraud works. Businesses serious about their fraud prevention often develop in-house historical...
- White papers 2001-03-01
- Best Practices in Fraud Prevention
- The fight against fraud in financial transactions is never-ending. A new phase in the fraud battle opens with the effective date of Check 21 (Oct. 28, 2004). It's nevertheless very important for everyone in the financial and corporate sectors to remember that this Check 21 era is just a new...
- White papers 2004-10-06
- The Use of Technology in Tackling Insurance Fraud and Abuse
- Insurance fraud detection has taken a giant step forward with the introduction of the same sophisticated technology already used by most banks and credit card companies to stop fraud, saving companies in these sectors billions of dollars each year and reducing fraud by as much as 50 percent. However, as...
- White papers 2004-05-01
- Academia Responds to the Need for Fraud Training
- The shortage of number crunchers combined with the demand for the detective skills of corporate crime cops has increased the need for fraud and forensic training. Currently, there are more than 200 schools around the world that offer courses accredited by the Association of Certified Fraud Examiners ACFE, up from...
- White papers
- Acts of Conscience
- From the executive summary: ‘Workplace fraud happens every day and the impact of that can be a major drain on the bottom line of Corporate America. The Webcast discusses the results of a fraud survey. The strategies to increase an organization’s profitability by reducing fraud in the workplace are also...
- Webcasts 2002-11-06
- Business Appraisers and Allegations of Accounting Fraud
- "In many dispute situations, there may be allegations of financial misrepresentation by one or both parties. However, what is often referred to as fraud is not really fraud at all—it actually may be the expensing of non-business-related costs through the business. This article will clarify the business appraiser’s...
- White papers 2001-09-01
- Workers’ Compensation Fraud: How To Save An Arm And A Leg
- Workers’ compensation fraud costs the insurance industry approximately $5 billion each year. Whether caused by workers, employers, or medical networks, workers’ compensation fraud is a rampant problem that is worsened by a weakened economy. Workers’ compensation fraud is just one more consideration when conducting business in the current economic climate....
- White papers 2003-09-01
- Minimizing Your Risk to Fraud
- Companies may appear to be more vulnerable to fraud because they may not have the resources or the time to implement fraud prevention programs, and may be less aware of the scope of the problem. Additionally, companies may not perform regular audits, causing many offenses to go undetected until significant...
- White papers 2002-05-14
- Educating the Audit Committee About Fraud
- Despite what businesses may tell themselves, there's no getting around it: fraud happens. And no matter how diligent auditors are as guardians of a company's risk management, control, and governance processes, fraud can still occur - even in the best-managed organizations. Employees can commit fraud in any organization at any...
- White papers
- Predicting the Un-Predictable: Protecting Utilities Against Fraud, Reputation & Misconduct Risk
- This white paper offers utility companies a practical plan for responding to fraud, reputation and misconduct risk. It includes common fraud schemes for utility companies to focus on when designing and implementing their Sarbanes anti-fraud programs and controls. It focuses on a five-step Anti-fraud implementation plan and the importance of...
- White papers 2005-09-07
- Anti-Fraud Programs and Controls: Combating Fraud and Misconduct Risk
- Management is responsible for developing and implementing programs to prevent, deter, and detect fraud. The types of programs and relevant controls chosen by management are discretionary, and further, dependent upon the organization's view toward, and assessment of, fraud and misconduct within the context of its culture, industry and operations. Proper...
- White papers
- 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
- Fighting Fraud in a Down Market
- What can insurers do to combat fraud? Aging technology and inefficient processes often prevent the detection and prevention of fraudulent claims, which in turn hurt long-term profitability. Fraud is a growing concern, particularly in today's weak economic climate, in which consumer exaggeration to improve claim payouts is becoming more prevalent....
- White papers
- The Consequential Risk of Weak Internal Controls: Fraud & Accounting Irregularities
- In its 2004 Report to the Nation on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners ACFE issued a startling estimate: the typical U.S. organization loses 6% of its annual revenue to fraud. Revelations of corporate fraud since then have made this pronouncement seem alarmingly prescient. The underlying...
- White papers 2005-10-10
- Exposing Click Fraud
- Click fraud has recently emerged as a topic of discussion and debate regarding the potential of undermining the pay-per-click revenue model that has made Google and Yahoo the financial success that they are today. While there is little consensus that click fraud will undermine the pay-per- click market, most search...
- White papers 2005-02-01
- Beyond EMV: Next-Generation Fraud in Europe
- Not long ago, payment-related fraud was mostly an opportunistic crime committed by small-time fraudsters. Today, the scale and sophistication of payment products and channels have grown - and so have fraud risks. In Europe, identity theft is fast emerging as the most potent type of fraud; in the United Kingdom...
- White papers 2005-01-10
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