Final answer:
True. Committing financial fraud can result in stiff penalties, including fines and jail time.
Step-by-step explanation:
True. Committing financial fraud can result in stiff penalties, including fines and jail time. Financial fraud is a criminal offense that involves deceptive practices to obtain financial gain or avoid paying debts. It can take many forms, such as embezzlement, money laundering, or securities fraud.
Financial fraud is taken seriously by law enforcement agencies and the legal system. Penalties are imposed to deter individuals from engaging in fraudulent activities and to protect the financial well-being of individuals and society as a whole.