Fraud
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Fraud
Fraud (/frɔːd/; from Latin fraus, "deceit") is a wrongful or criminal deception intended to result in financial or personal gain.
Etymology
The term "fraud" is derived from the Latin word fraus, which means "deceit, trickery, cheating, wrong". It has been used in English since the 14th century.
Types of Fraud
There are several types of fraud, including:
- Insurance Fraud: This involves individuals attempting to claim benefits from insurance policies by faking an accident, injury, or loss that did not really occur.
- Credit Card Fraud: This involves the unauthorized use of another person's credit card information for the purpose of purchasing goods or services, or to remove funds from the victim's account.
- Identity Theft: This involves the deliberate use of another person's identifying information, usually for financial gain, without their consent.
- Securities Fraud: This involves deceptive practices in the stock and commodities markets.
- Healthcare Fraud: This involves individuals or corporations defrauding healthcare systems, often through false claims or by providing unnecessary procedures.
Related Terms
- Deception: The act of causing someone to accept as true or valid what is false or invalid.
- Embezzlement: The act of withholding assets for the purpose of conversion (theft) of such assets by one or more individuals to whom the assets were entrusted.
- Forgery: The process of making, adapting, or imitating objects, statistics, or documents with the intent to deceive.
- Scam: A fraudulent scheme performed by a dishonest individual, group, or company in an attempt to obtain money or something else of value.
See Also
External links
- Medical encyclopedia article on Fraud
- Wikipedia's article - Fraud
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