Final answer:
The three common elements of a typical fraud involve misrepresentation, concealment, and the intention to deceive. Embezzlement is an example of fraud in a corporate context, and identity theft is a serious form of fraud involving the use of someone else's personal information.
Step-by-step explanation:
The three elements of a typical fraud that are most widely recognized are: misrepresentation, concealment, and intention to deceive. Misrepresentation involves providing false information or statements to individuals that are relied upon. Concealment includes hiding the truth or omitting relevant facts to mislead individuals. Lastly, the intention to deceive is about having the purpose of inducing another to act upon the misrepresentation to their detriment.
In the context of corporate crime, embezzlement is an example of fraud, where someone with a fiduciary duty wrongfully takes money for their own use. Similarly, identity theft, a severe form of fraud involves illegally acquiring and using someone's personal information like a social security number to commit theft or deception, as in opening lines of credit or purchasing expensive goods.
To avoid academic dishonesty that can sometimes be unintentional, understanding these elements of fraud is crucial. It's essential to recognize the potential to commit fraud unintentionally and to take steps to ensure academic integrity by attributing sources correctly and seeking to understand the boundaries of honest work.