Final answer:
The fraud triangle component where fraudsters justify their misdeed as unavoidable or justified is called rationalization. It involves fraudsters creating a narrative where their actions are seen as deserved or for a greater good, mitigating the feelings of guilt associated with fraud.
Step-by-step explanation:
The component of the fraud triangle where fraudsters perceive their misdeed as unavoidable or justified is known as rationalization. Typically, this involves the perpetrator convincing themselves that their actions are right because of some perceived injustice or the belief that they deserve more, which falls under a broader concept of cognitive distortions. It is an internal dialogue where the fraudster justifies their fraudulent actions by creating a false narrative—often seeing themselves as the victim who deserves recompense whether through denial of the victim or appeal to a higher authority.
Rationalization is a critical component because it allows individuals to mitigate the guilt associated with committing fraud. By justifying their actions as either being owed something, like claiming unpaid dues or rewarding self for hard work, or necessary due to some greater purpose, they create a narrative where the crime seems justified. This cognitive distortion aligns with philosophical views, such as those of Socrates, who believed that wrongdoers see some apparent personal benefit in their actions, thinking of them as good until they understand and accept why those actions are considered wrong by others.