What is Fraud?

Any crime or civil wrong for gain that utilizes some deception practiced on the victim as its principle method. Plagiarism which is copying of data and papers, redundant publications, gift author ship, not attributing other authors, not publishing research, and not disclosing a conflict of interest all falls under the category of fraud. Mainly it is a deception made for personal gain. Fraud occurs in many aspects of life such as art, archeology, and science. Hoaxes are another example of fraud an example of this is electrical fraud.

Types of Fraud:

1. Internet: Fraud scheme using email, websites, chat rooms, or message boards to present fraudulent solicitations to prospective victims to conduct fraudulent transactions or to transmit the proceeds of fraud to financial institutions or to other connected with the scheme.
2. Credit Card: The unauthorized and illegal use of a credit card to purchase property.
3. Check: Drawing out money from one bank account that does not have sufficient funds to cover the check. Most check kiting schemes are achieved with the use of two bank accounts.
4. Insurance: Intentional lying or concealment by policy holders to obtain payment of an insurance claim that would otherwise not be paid.
5. Computer: Computer related crimes involving deliberate misrepresentation or alteration of data in order to obtain something of value.

How to avoid Fraud:

Don’t buy from Unknown Companies, legitimate businesses and known business, are more trust worthy since they don’t want to ruin they representation. Always check out unfamiliar companies with your local consumer protection agencies.

Obtain a salesperson’s information name, business identity, telephone number, street address, mailing address, and business license number before you transact business. Verify the accuracy of these items. Before you give money to a charity or make an investment, find out what percentage of the money is paid in commissions and what percentage actually goes to the charity or investment, so you know if it is a good investment. You must not be asked to pay in advance for services. Pay services only after they are delivered. Don’t let con artist come to your house to pick up your money as a “service” of theirs, they usually just take your money and leave you with nothing. Don’t pay for a “free prizes.” If a caller tells you the payment is for taxes, he or she is violating federal law. It’s never rude to wait and think about an offer.

Be sure to talk over big investments offered by telephone salespeople with a trusted friend, family member, or financial adviser. Never respond to an offer you don’t understand thoroughly. Never send money or give out personal information such as credit card numbers and expiration dates, bank account numbers, dates of birth, or social security numbers to unfamiliar companies or unknown persons. Your personal information is often brokered to telemarketers through third parties.