The Nature and Scope of Fraud and Fakery in International Business Term Paper

The Nature and Scope of Fraud and Fakery in International Business - border Paper ExampleBefore substantiateing the nature and scope of fraud and activities related to it, it is important to understand what is meant by the term Fraud. In its simplest meanings, fraud can be considered an act of deceiving another with the goal of gaining something as a result. Fraud is illegal because it involves misrepresentation, deception, and trickery. It is pertinent to distinguish fraud from errors considered as unintentional (Singleton & Singleton, 2010 Davia, Coggins, Wideman, & Kastantin, 1992 Albrecht, Albrecht, Albrecht, & Zimelman, 2009). As for instance, incorrectly entering the wrong come up in an invoice and receiving or giving incorrect amount by mistake does not account for fraud. In fact, it is the thought of deception which distinguishes a mistake from a fraud. The Oxford Dictionary defines fraud as On the other hand, the government of UK on its official website has provided a e xtensive definition of fraud in relation to international trade. The definition provided by the government of UK is as follows aside from these definitions, another version of the definition for fraud is provided in the Webster Dictionary, which seems to be more explanatory, simple and convincing. The definition is as follows In law, the deliberate misrepresentation of fact for the purposeof depriving someone of a valuable possession or legal right. Any omission or concealment that is injurious to another or that allows a person to take unconscionable advantage of another may constitute criminal fraud. The most common attribute of fraud is the obtaining of property by giving a check for which there are insufficient capital in the signers account. Another is the assumption of someone elses or a fictitious identity with the intent to deceive. besides important are mail and wire fraud (fraud committed by use of the postal benefit or electronic devices, such as telephones or comput ers).