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FRAUD
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Fraud
is any attempt to achieve financial gain through deceptive promises of goods,
services, or financial benefits that do not exist, were never intended
to be delivered, or were misrepresented. Fraud is characterized by
deceit, concealment, and violation of trust; it may or may not involve
threat, physical force, or violence. Individuals who commit fraud do so
to obtain money, property, or services. Fraudulent activities are
also committed to avoid the payment or loss of money, property, or
services, or to secure a personal or business advantage.
Fraud
is an insidious crime, causing tremendous financial and emotional losses
every year. According to the U.S. Department of Justice,
losses from personal and telemarketing fraud schemes alone are estimated
to be more than $40 billion annually1. Check fraud accounts for
additional annual losses of at least $500 million2. Estimates
suggest that as little as 15% of all fraud crimes are reported to law
enforcement.
Contrary
to popular beliefs, fraud is a crime that affects people regardless of
household size, income, region of the country, race, or sex. Victims of
fraud often experience the same financial and/or emotional as a victim
of any other crime. However, unlike victims of other crimes,
victims of fraud frequently are not seen as innocent. This often
adds to their stigma.
1(Titus,
Richard M., Fred Heinzelmann, and John M. Boyle, "Victimization of
Persons by Fraud," Crime and Delinquency, 41:1 (January, 1995):58.
U.S. Department of Justice, National Institute of Justice,
Washington, D.C.)
2National
White Collar Crime Center. 2002. Check Fraud. Richmond, VA.
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