Fraud As A Civil Wrong

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Fraud is unfortunately a subject that many companies and even people have problems controlling. Fraud is defined as deliberate deception to secure unfair or unlawful gain. It is said that fraud is both a civil wrong where a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation and a criminal wrong where a fraud perpetrator may be prosecuted and imprisoned by government authorities. There are many purposes of fraud that may include monetary gain or other benefits. As a civil wrong in common law jurisdictions, fraud is referred to as a tort. It is stated that while the precise definitions and requirements of proof may vary among jurisdictions, the necessary elements of fraud as a tort generally are …show more content…

In cases of fraudulently induced contract, fraud may serve as a defense in a civil action for breach of contract or specific performance of control. As a criminal offense in common law jurisdictions fraud takes many different forms, some general and some specific to certain categories of victims. The necessary elements of perhaps most general form of criminal fraud, theft by false pretense, are the intentional deception of a victim by false representation or pretense with the intent of persuading the victim to part with properly and with the victim parting with property in dependency on the representation or pretense and with the perpetrator intending to keep the properly from the victim. It also reads that in civil law systems and other legal systems the concept of fraud seems to exist, but its elements and application may or may not vary significantly from the common law system concepts discussed. There are many types of fraudulent acts. Fraud can be committed many ways which include mail, wire, phone, and the internet such as computer crimes and internet fraud. Internet fraud is something that we have all heard of many times before. With international dimensions of the web and ease with which users can hide their location , the difficulty of checking indentity , and the simplicity with which hackers can divert browsers to dishonest sites and steal credit card details have all contributed to the very rapid growth of internet

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