Fraud
Simple definition:
Fraud is most simply defined as a deception made for
personal gain. While there are more specific legal
meanings, they may be different from one area of the
country to another.
Legal definition:
Fraud is any crime or civil wrong for gain that uses
deception to commit the crime. Fraud occurs when a
perpetrator deliberately deceives a victim for personal
gain (i.e. to get property or services from him or her
unjustly). Fraud can be accomplished through forgery,
larceny or other methods. Fraudsters often utilize the
mail, phone or internet to commit fraud.
Acts
which may constitute criminal fraud include identity
theft, embezzlement, forgery, false billings, false
advertising, bait and switch, fause claims, Ponzi
schemes and confidence tricks.
Forensic
Accounting
Forensic
accounting is the utilization of accounting, auditing and
investigative skills to provide an analysis designed to be
suitable for use in a court of law. The resulting report may
be used as the basis for discussion, debate and dispute
resolution as well. It also is designed to communicate
financial information clearly and concisely. Forensic
accountants are trained to look past the numbers.
Certified Fraud
Examiners
Certified
Fraud Examiners (CFEs) are
professionals that have obtained a certification and are
considered to be experts in detecting and deterring fraud.
CFEs are not required to also be CPAs,
however many are.
