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Types of fraudulent acts
Fraud can be committed through many media, including mail, wire, phone, and the Internet (computer crime and Internet fraud). The international dimensions of the web and ease with which users can hide their location, the difficulty of checking identity and legitimacy online, and the simplicity with which crackers can divert browsers to dishonest sites and steal credit card details have all contributed to the very rapid growth of Internet fraud.
Types of criminal fraud include:
bait and switch
bankruptcy fraud
benefit fraud, committing fraud to get government benefits
counterfeiting of currency, documents or valuable goods
charlatanism
confidence tricks such as the 419 fraud and Spanish Prisoner
creation of false companies or "long firms"
embezzlement, taking money which one has been entrusted with on behalf of another party
false advertising
false billing
false insurance claims
forgery of documents or signatures,
fraud upon the court
health fraud, for example selling of products known not to be effective, such as quack medicines,
identity theft
investment frauds, such as Ponzi schemes and Pyramid schemes
Moving scam
religious fraud
marriage fraud to obtain immigration rights without entitlement
rigged gambling games such as the shell game
securities frauds such as pump and dump
tax fraud, not reporting revenue or illegally avoiding taxes. In some countries, tax fraud is also prosecuted under false billing or tax forgery
Elements of fraud
Common law fraud has nine elements:
a representation of an existing fact;
its materiality;
its falsity;
the speaker's knowledge of its falsity;
the speaker's intent that it shall be acted upon by the plaintiff;
plaintiff's ignorance of its falsity;
plaintiff's reliance on the truth of the representation;
plaintiff's right to rely upon it; and
consequent damages suffered by plaintiff.
Most jurisdictions in the United States require that each element be pled with particularity and be proved with clear, cogent, and convincing evidence (very probable evidence) to establish a claim of fraud. The measure of damages in fraud cases is to be computed by the "benefit of bargain" rule, which is the difference between the value of the property had it been as represented, and its actual value. Special damages may be allowed if shown proximately caused by defendant's fraud and the damage
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