fraud

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Related to Fraudster: fraudulently, defrauded

fraud

fraud, in law, willful misrepresentation intended to deprive another of some right. The offense, generally only a tort, 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 fiduciary). 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 negligence, 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) damages 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.
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scam

(1) A hustle, racket or swindle. See scam call, phishing, ransomware and malware.

(2) (SCAM) (SCSI Configured AutoMatically) A subset of Plug and Play that allowed SCSI IDs to be changed by software rather than by flipping switches or changing jumpers. Both the SCSI host adapter and peripheral must support SCAM. See SCSI.
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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.
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.