Fraud Flashcards
What are the three different ways in which fraud can be committed?
- False representation (s 2)
- Failing to disclose information (s 3)
- Abuse of position (s 4)
What constitutes a false representation?
Something untrue / misleading which the person makes knowing it is, or might be, untrue or misleading
Can relate to a fact, the law, or the state of mind of the person making the representation / someone else
Can be in writing, spoken, online, by conduct
What is the MR for fraud by false representation?
Knowledge the representation is or might be false
Dishonesty
Intention to make a gain for self or another or to cause loss to another or to expose another to a risk of loss
When does the offence of fraud by misrepresentation occur?
As soon as the representation is made (therefore person does not need to be successful in their aim)
What is the AR for fraud be failure to disclose information?
Failing to disclose information which the defendant is under a legal duty to disclose
Where may the duty to disclose information arise from?
o Statute
o Fact that transaction is one of utmost good faith, e.g. insurance contracts
o Express or implied terms of the contract
o Custom of a particular trade or market, and
o Existence of a fiduciary relationship between the parties
What is the MR for fraud by failing to disclose information?
Dishonesty
Intention make a gain for self or another or to cause loss to another or to expose another to a risk of loss
What is the AR for fraud by abuse of position?
Occupying a position in which D is expected to safeguard, or not to act against, the financial interests of another person
Abuse of that position by act or omission
What is the MR for fraud by abuse of position?
Dishonesty
Intention to make a gain for self or another or to cause loss to another or to expose another to a risk of loss
