Legal Definition of Fraud
“All multifarious means which human ingenuity can
devise, and which are resorted to by one individual to
get an advantage over another by false suggestions
or suppression of the truth. It includes all surprises,
tricks, cunning or dissembling, and any unfair way
which another is cheated.”
Source:
Black’s Law Dictionary, 5th ed., by Henry Campbell Black, West Publishing Co., St. Paul,
Minnesota, 1979.
Fraud is a common risk that should not be ignored. The incidence of fraud is now so common that its occurrence is no longer remarkable, only its scale. Any entity that fails to protect itself appropriately from fraud should expect to become a victim of fraud, or rather, should expect to discover that it is a victim of fraud. There is no such thing as an accidental fraud. What separates error from fraud is intent; the accidental from the intentional.
Fraud is a common risk that should not be ignored. The incidence of fraud is now so common that its occurrence is no longer remarkable, only its scale. Any entity that fails to protect itself appropriately from fraud should expect to become a victim of fraud, or rather, should expect to discover that it is a victim of fraud. There is no such thing as an accidental fraud. What separates error from fraud is intent; the accidental from the intentional.
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