Question

5.3 Fraud is gaining an unfair advantage over another person. Legally, for an act to be fraudulent there must be:

A. An intent to deceive.
B. Unfairness.
C. An exchange of monetary consideration.
D. All of these are correct.

Answer 1

Answer: All listed options are correct.

Explanation: Fraud simply means to cheat someone, by presenting a wrong representation of something to the defrauded person.

For fraud to take place it is properly planned with an intent to deceive the target victim, gain an unfair advantage over the victim.

In most cases of fraud there is a monetary exchange between the victim of fraud and the person planning the fraud.