About Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law, a criminal law, or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.
'My business had £1. 6m stolen in 20 minutes'
... 6m stolen in a matter of minutes through Fraud has strongly criticised the response from the authorities...
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... The extent of the win led the military to allege election Fraud - which they then used as a justification for the coup...
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... The disgraced entrepreneur was sentenced to over 11 years in prison and ordered to pay $452m (£365m) with her former business partner Sunny Balwani to dozens of high-profile investors they deFrauded through a blood-testing start-up...
Warning UK losing £2,300 per minute to fraud
... 2bn to Fraud in 2022, the equivalent of £2,300 every minute, according to bank industry group UK Finance...
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... We already know, from Fox News emails and messages published in February as part of the legal case, that many Fox executives and presenters didn t believe claims of voter Fraud - but broadcast them anyway...
Alex Murdaugh verdict: Disgraced lawyer guilty of killing wife and son
... Murdaugh had pleaded not guilty to killing his wife and youngest son in an attempt to conceal years of financial corruption - Fraud that he himself had acknowledged in court...
In Canada, complex fraud schemes are targeting homeowners
...By Nadine YousifBBC News, TorontoA Canadian couple recently learned that their home was sold by Fraudsters without their consent while they were out of town...
Brazil Congress storming: How did we get here?
... In the run-up to election, he repeatedly claimed that Brazil s electronic voting system was vulnerable to Fraud - a claim dismissed by the electoral authorities...
Warning UK losing £2,300 per minute to fraud
People in the UK lost £1. 2bn to Fraud in 2022, the equivalent of £2,300 every minute, according to bank industry group Uk Finance .
It said around three million Scams took place - Slightly less than the previous Year - with frauds involving payment cards being The Most common.
Uk Finance said losses were not always reimbursed and urged tech firms to " share the burden" of covering costs.
Ministers say they will get tougher on Scams as part of a national strategy.
Fraud is, with one in 15 people falling victim.
According to Uk Finance , the amount of money stolen in 2022 was actually 8% less than in 2021, and Fraud cases were down 4% - But there were still nearly three million cases across the UK in total.
It said The Most common type of Fraud after card Fraud was Scams involving purchases.
Uk Finance boss David Postings said drugs gangs, criminal groups abroad and " state-sponsored bad actors" were responsible for the majority of Fraud .
He added that while banks were legally obliged to refund so called unauthorised Fraud , they did not have to cover the costs of authorised Scams - where victims are tricked into agreeing to send sending money to fraudsters.
As a result, banks only refunded about 59% of the losses from this type of Fraud on a voluntary basis, amounting to £285. 6m of the £485. 2m stolen.
Mr Postings said many of The Most common frauds started online and called on tech and telecoms companies to play a greater role in reimbursing lost funds.
However, industry group Tech UK said technology firms " already take a wide range of Active Measures to prevent Fraud ".
In terms of future threats, Mr Postings said he was concerned that Artificial Intelligence [AI] would let scammers " spoof people even More Than is already the case".
He added that AI could be used to automate Fraud and generate convincing Scams to trick people.
The government recently released a new Fraud strategy, which will include allowing banks to delay payments from being processed for longer, to allow for suspect payments to be investigated.
The strategy will also include banning cold calls on all financial products, such as those relating to bogus insurance or sham cryptocurrency schemes, to help stop Scams at source.
Related TopicsSource of news: bbc.com
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