What is Fraud?

Fraud is a crime that occurs when someone commits a deceitful act with the intention of obtaining something that they are not entitled to. The Federal Trade Commission (FTC) defines fraud as "any deception, falsehood, or artifice to induce someone to part with something of value, with the intent to deprive the victim of that thing." This can be done through various methods, such as misrepresenting oneself, making false promises, and using force or threats.

Fraud is an intentional deception that results in financial loss for the victim. It can take many forms, from simple fraudsters who use phony documents to commit identity theft, to more sophisticated schemes that involve the filing of false tax returns, bilking investors out of millions of dollars, or rigging auctions. In recent years, fraud has become increasingly common and sophisticated, making it difficult for victims to identify and recover their losses.