Fraud

Question 1

what are the 3 types of fraud?

Answer 1

• fraud by false representation
• fraud to failing to disclose
• fraud by abuse of position

Question 2

what is fraud by false respresentation

Answer 2

dishonestly make false representation, intending to make gain for self or loss to another

• false means untrue or misleading
• the gain/loss do not have to take place

Question 3

what is fraud by failing to disclose information?

Answer 3

dishonestly fails to disclose to another info which they have a legal duty to disclose

Question 4

what is fraud by abuse of position?

Answer 4

a person occupies a position of which he is expected to safeguard or not act against financial interest of another
and dishonestly abuses that position
and intends to make a gain for self/another or cause a loss to another