This is the latest accepted revision, reviewed on 14 March 2019. In law, fraud is deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. A penipuan Forex is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victim.
In common law jurisdictions, as a civil wrong, fraud is a tort. While the precise definitions and requirements of proof vary among jurisdictions, the requisite elements of fraud as a tort generally are the intentional misrepresentation or concealment of an important fact upon which the victim is meant to rely, and in fact does rely, to the harm of the victim. In cases of a fraudulently induced contract, fraud may serve as a defense in a civil action for breach of contract or specific performance of contract. Fraud may serve as a basis for a court to invoke its equitable jurisdiction. The elements of fraud as a crime similarly vary.
A prohibited act of deceit, falsehood or other fraudulent means. The deprivation must be caused by the prohibited act, and deprivation must relate to property, money, valuable security, or any service. The proof requirements for criminal fraud charges in the United States are essentially the same as the requirements for other crimes: guilt must be proved beyond a reasonable doubt. Throughout the United States fraud charges can be misdemeanors or felonies depending on the amount of loss involved. High value frauds can also include additional penalties. 2006 fraud review concluded that fraud is a significantly under-reported crime, and while various agencies and organizations were attempting to tackle the issue, greater co-operation was needed to achieve a real impact in the public sector.
The scale of the problem pointed to the need for a small but high-powered body to bring together the numerous counter-fraud initiatives that existed. According to Bloomberg, auto loan application fraud rates in the United States has been steadily rising over the past few years. The other person suffers injury as a result of the act or forbearance taken in reliance upon the misrepresentation. To establish a civil claim of fraud, most jurisdictions in the United States require that each element of a fraud claim be pleaded with particularity and be proved by a preponderance of the evidence, meaning that it is more likely than not that the fraud occurred. Out-of-pocket loss, which allows for the recovery of damages in the amount of the difference between the value of what was given and the value of what was received.
Special damages may be allowed if shown to have been proximately caused by defendant’s fraud and the damage amounts are proved with specificity. Many jurisdictions permit a plaintiff in a fraud case to seek punitive or exemplary damages. 11bn in 2017 according to a study. 50,000 and found that the total number rose to 577 in 2017, compared with 212 in 2003. As at November 2017 Fraud is the most common criminal offence in the UK according to a study by Crowe Clark Whitehill, Experian and the Centre for Counter Fraud Studies. 190 billion per year to fraud.