fraud

(redirected from Fraudster)
Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Wikipedia.
Related to Fraudster: fraudulently, defrauded

fraud,

in law, willful misrepresentation intended to deprive another of some right. The offense, generally only a torttort,
in law, the violation of some duty clearly set by law, not by a specific agreement between two parties, as in breach of contract. When such a duty is breached, the injured party has the right to institute suit for compensatory damages.
..... Click the link for more information.
, may also constitute the crime of false pretenses. Frauds are either actual or constructive. An actual fraud requires that the act be motivated by the desire to deceive another to his harm, while a constructive fraud is a presumption of overreaching conduct that arises when a profit is made from a relation of trust (see fiduciaryfiduciary
, in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. Among the common fiduciary relationships are guardian to ward, parent to child, lawyer to client, corporate director to corporation, trustee to trust, and business
..... Click the link for more information.
). The courts have found it undesirable to make a rigid definition of the type of misrepresentation that amounts to actual fraud and have preferred to consider individually the factors in each case. The misrepresentation may be a positive lie, a failure to disclose information, or even a statement made in reckless disregard of possible inaccuracy. Actual fraud can never be the result of accident or negligencenegligence,
in law, especially tort law, the breach of an obligation (duty) to act with care, or the failure to act as a reasonable and prudent person would under similar circumstances.
..... Click the link for more information.
, because of the requirement that the act be intended to deceive. The question of commission may depend upon the competence and commercial knowledge of the alleged victim. Thus dealings with a minor, a lunatic, a feeble-minded person, a drunkard, or (in former times) a married woman are scrutinized more closely than dealings with an experienced businessman. A lawsuit based upon actual or constructive fraud must specify the fraudulent act, the plaintiff's reliance on it, and the loss suffered. The remedy granted to the plaintiff in most cases is either compensatory (and possibly punitive) damagesdamages,
money award that the judgment of a court requires the defendant in a suit to pay to the plaintiff as compensation for the loss or injury inflicted. Damages are the form of legal redress most commonly sought.
..... Click the link for more information.
 for the injury or cancellation of the contract or other agreement and the restoration of the parties to their former status. In a few states of the United States both damages and cancellation are available. In certain suits based upon a contract, fraud may be introduced as a defense.
The Columbia Electronic Encyclopedia™ Copyright © 2013, Columbia University Press. Licensed from Columbia University Press. All rights reserved. www.cc.columbia.edu/cu/cup/
References in periodicals archive ?
In these cases, fraudsters use hacked email accounts to intercept expected payment requests and change the bank details to their own account.
Combining all these technologies is used for automatically creating and maintaining a watchlist of fraudster voices (also referred to as voiceprints) from the suspicious interactions.
Paul Davis, Bank of Scotland fraud and financial crime director, said: "Scots are confident in their ability to spot a fraudster yet many people still get caught out when it comes to scams.
So here's my quick guide to the fraudster's favourite tricks doing the rounds at the moment.
FRAUDSTERS are targeting children who play the massively popular online video game Fortnite.
NICE RTA's new Proactive Fraudster Exposure capability reduces fraud losses from day one by automating the process of exposing new, previously unidentified fraudsters and blocking them before they commit wrong doing.
The fraudster will invariably request a fee that is required to either improve the chances of winning, process the wining, pay bank fees, government taxes, shipping charges, etc.
However, these fraudsters subconsciously display certain behavioural red flags that need to be carefully observed to identify the fraudsters amongst the largely honest people in any organisation.
Muscat: Fraudsters can cover up their fraudulent activities by various concealment methods making the fraud detection very difficult unless the fraudster is specifically investigated.
He kept the phone line open so when Miss Turner called the police number she was still talking to the fraudster.