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CHAP 5 - FRAUD - Coggle Diagram
CHAP 5 - FRAUD
Fraudulent act
A false statement, representation, or disclosure
A material fact, which is something that induces a person to act
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A justifiable reliance; that is, the person relies on the misrepresentation to take an action
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meaning
- Any and all means a person uses to gain an unfair advantage over another person
White-collar criminals
Typically, businesspeople who commit fraud. White-collar criminals usually resort to trickery or cunning, and their crimes usually involve a violation of trust or confidence.
Corruption
Dishonest conduct by those in power which often involves actions that are illegitimate, immoral, or incompatible with ethical standards. Examples include bribery and bid rigging.
investment fraud
Misrepresenting or leaving out facts in order to promote an investment that promises fantastic profits with little or no risk. Examples include Ponzi schemes and securities fraud.
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