Section 2 of the Act as a case defines “Fraud by false representation” where a person makes "any representation as to fact or law ... express or implied" which they know to be untrue or misleading.
"Fraud by failing to disclose information" is defined by Section 3 of the Act as a case where a person fails to disclose any information to a third party when they are under a legal duty to disclose such information.
"Fraud by abuse of position" is defined by Section 4 of the Act as a case where a person occupies a position where they are expected to safeguard the financial interests of another person, and abuses that position; this includes cases where the abuse consisted of an omission rather than an overt act.
Before 2006, the Theft Acts of 1968 and 1978 or the common offence of fraud in Scotland covered fraud offences. When for practical purposes fraud was be defined as the use of deception with the intention of obtaining an advantage, avoiding an obligation or causing loss to another party.
Your organisation is vulnerable to fraud being committed by people from outside of your establishment but statistics show that you are equally at risk of fraud from people within your organisation.
Computers have changed the face of how, where and by whom fraud is committed. Be that in the production of fraudulent documents and as a way to obtain access to services, resources and money has upped the game. The range of fraud and methods to defraud has expanded covering areas such as spamming, data manipulation, credit card fraud and the growth in identity theft.
How to protect yourself from ID fraud - By Kara Gammell Daily Telegraph 28/08/2008/
You’ll only lose your company once - By Companies House:
NetShare: Counter-Fraud Community has been designed to allow Counter-Fraud Teams to share information, share intelligence gather, access services and trade resources with each other with the sole purpose of seeking out and prosecuting fraudsters. Whether that is insurance fraud, benefit fraud, internal fraud or any other kind of fraud that steals valuable resources and money from honest and innocent people. It is said, that fraud is a victimless crime. This is not true, the victims are you and your family.
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