Fraud Flashcards
What is a gain?
Keeping what one has and obtaining something else
What is a loss?
Losing what one has and losing what you might have
What is Fraud by False Representation (Section 2)?
Dishonestly making a false representation, knowing it was untrue and misleading with the intent of making a gain for himself/another or causing a loss to another/exposing another to the risk of loss
What is Fraud by Failing to Disclose Information (Section 3)?
Failing to disclose information to another, which they have the legal duty to disclose, with the intention, by that failure, to make a gain or cause a loss
What is Fraud by Abuse of Position (Section 4)?
A person occupying a position in which they are expected to safeguard or not act against the financial interests of another, dishonestly abuses this position, with the intention to make a gain or cause a loss
What is meant by the term ‘possession of articles’ (section 6)?
A person is guilty if he has in his possession or under his control any article for use in course of or in connection with any fraud
What is meant by the term ‘making or supplying articles’ (Section 7)?
Making, adapting or offering to supply any article
- knowing it was designed/adapted for use in course of/connection with fraud or,
- intending it to be used to commit/assist in the commission of fraud
What is the definition of Making Off Without Payment under Section 3 of the Theft Act 1968?
A person is guilty if they make off without payment and has knowledge that the payment is required on the spot.
(the dishonest intent to avoid payment)
What is the definition of Handling Stolen Goods under Section 22 of the Theft Act 1968?
A person handles stolen goods if
- knowing/believing them to be stolen, he dishonestly receives the goods or
- dishonestly undertakes/assists in their retention, removal, disposal or realisation for the benefit of another or if arranges to do so
What is retention in relation to Handling Stolen Goods?
Keeping in one’s possession or control
What is removal in relation to Handling Stolen Goods?
Moving a thing to another place
What is disposal in relation to Handling Stolen Goods?
Act of disposing, getting rid of, bestowing or gifting
What is realisation in relation to Handling Stolen Goods?
The conversion of goods into cash/money
What are the defences for Handling Stolen Goods?
- If someone does not know or believe they are stolen
- They have a legal right to the property
- The owner would agree to their taking if they knew
- They could not find the owner by taking reasonable steps
What is Wrongful Credits under Section 24(a) of the Theft Act 1968?
Credit is wrongful if funds were derived from
- theft
- blackmail
- fraud
- stolen goods
A person is guilty if they fail to take reasonable steps for a wrongful credit to be cancelled
