Fraud Definitions 

Fraud

"A representation about a material point which is false and intentionally or reckless so, is believed and acted upon by the victim to the victim's damage." (Albrecht , 2003, p. 6)

Fraud - Classical Definition

"All multifarious means which human ingenuity can devise, and which are resorted to by one individual to get an advantage over another by false suggestions or suppression of the truth. It includes all surprise, trick, cunning, or dissembling, and any unfair way, which another is cheated." (Black's Law Dictionary, 1979)

Occupational Crime

"Occupational crime is committed by individuals or small groups of individuals in connection with their occupations." (Robertson, 1997, p. 58) White collar crime is a subset of occupational crime.

Occupational Fraud

"An activity that is clandestine, violates the employee's fiduciary duties to the organization, is committed for the purpose of direct or indirect financial benefit to the employee, and costs the employing organization assets, revenues, or reserves." (Albrecht, 2003, p. 7)

Organizational Crime

Organizational crime is committed by business, non-profits, and government.

Organizational Fraud

A knowingly false representation made by an organization, acted upon by a victim to the victim's damage. Some organizational crimes may also be considered white collar crimes. 

- R. S. Kulzick - 12/31/2002 - Revised 3/19/2007 -

This publication provides business, financial planning, and/or tax information to our clients. All material is for general information only and should not be acted upon without seeking appropriate professional assistance.

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Copyright 2002 Kulzick Associates, PA - Last modified: September 13, 2008