1. World problems
  2. Fraud

Fraud

  • Swindling

Nature

Misrepresentation of facts intended to gain for the falsifier tangible or intangible property constitutes fraud. Criminal fraud occurs with the loss of a valuable possession by the victim. This can be money, real estate, jewels, securities, collectors items of diverse kinds such as paintings, historical documents; but also copyrights, patents and other ownership intangibles. Omission or concealment of facts constituting fraud may be prosecuted as criminal under European and derivative legal codes, but under Anglo-American legal systems may be treated as deceit in civil, rather than criminal legal actions.

Incidence

Common types of criminal fraud include the use of bank cheques for which there are no funds; the confidence game; filing false claims for insurance, government subsidies and compensation; under stating the value of taxable property, over charging clients by, for example, stating higher costs in billing clients; not paying clients the full proceeds of sales; kickbacks; manipulation of prices; taking an advanced fee without delivering services or goods; using credit cards and other financial instruments without authorization; and impersonation.

Neglecting national variations in the basis of statistical estimates, figures from Interpol indicate that in 1990 there were approximately 1,779,000 cases of fraud reported from 91 countries worldwide, namely 58.7 per 100,000 population; some 1,470,000 (namely 83%) were claimed to have been resolved. In the UK the amount of fraud brought to the courts increased in 1993 by 11% rising to £704 million.

Claim

Fraud is a pervasive and insidious problem that undermines trust in our financial systems, businesses, and personal relationships. It exploits vulnerabilities, leading to devastating financial losses and emotional distress for victims. The rise of technology has only amplified its reach, making it easier for fraudsters to deceive and manipulate. Addressing fraud is not just a matter of financial security; it is essential for maintaining integrity and confidence in our society. We must prioritize prevention and education to combat this critical issue.This information has been generated by artificial intelligence.

Counter-claim

Fraud is often exaggerated as a significant issue, but in reality, it pales in comparison to more pressing global challenges like poverty, climate change, and healthcare. The focus on fraud distracts from addressing systemic problems that affect millions. Most individuals are savvy enough to recognize scams, and the financial systems are increasingly robust against fraud. Instead of overemphasizing this issue, we should prioritize solutions that tackle the root causes of societal distress.This information has been generated by artificial intelligence.

Broader

Immorality
Presentable
Deception
Presentable

Narrower

Telephone fraud
Presentable
Medical quackery
Presentable
Maritime fraud
Presentable
Mail fraud
Presentable
Investment fraud
Presentable
Ghost employees
Presentable
Forgery
Presentable
Embezzlement
Presentable
Ignorant pretension
Unpresentable
Grant fraud
Unpresentable
Documentary fraud
Unpresentable
Commercial fraud
Unpresentable
Cheque fraud
Unpresentable
Internet fraud
Yet to rate
Bogus firms
Yet to rate

Aggravated by

Corruption
Excellent
Falsity
Presentable
Gullibility
Yet to rate
Cheating
Yet to rate

Related

Torts
Presentable
Economic crime
Presentable
Hustling
Unpresentable
Cover-ups
Yet to rate

Strategy

Being fraudulent
Yet to rate

Value

Fraud
Yet to rate

Reference

SDG

Sustainable Development Goal #1: No PovertySustainable Development Goal #3: Good Health and Well-beingSustainable Development Goal #12: Responsible Consumption and Production

Metadata

Database
World problems
Type
(D) Detailed problems
Biological classification
N/A
Subject
  • Societal problems » Crime
  • Content quality
    Presentable
     Presentable
    Language
    English
    1A4N
    D0486
    DOCID
    11404860
    D7NID
    136753
    Last update
    Mar 7, 2021