What does the word fraud mean?

Answer 1

In the broadest sense, a fraud is a deception made for personal gain, although it has a more specific legal meaning, the exact details varying between jurisdictions. Many hoaxes are fraudulent, although those not made for personal gain are not best described in this way. Not all frauds are hoaxes - electoral fraud, for example. Besides business fraud permeates many areas of life, including art, Archaeology and science. In the broad legal sense a fraud is any crime or civil wrong for gain that utilizes some deception practiced on the victim as its principal method. The above answer is more than a "broadest sense". It is so basic that it is incorrect in my opinion. Fraud is the knowingly false misrepresentation of a material fact that induces another to rely upon it to their detriment. It is not restricted to personal gain, as it can be corporate gain. Deception is in and of itself not fraudulent. It has to be knowingly false msirepresentation, that the other party relies upon to their detriment wherein otherwise they would not have acted.