Important Facts About Fraudulent Acts
Fraudulent acts are those that are taken with the purpose of deliberately deceiving a person or faction which causes some sort of damage, typically in the form of financial losses. In certain jurisdictions, lying in specific legal situations can also be considered fraud. However, lying will not necessarily be considered fraud, particularly if a lie does not cause any particular damage.
Fraudulent acts will usually occur in a commercial or business setting, where one party will purposely provide a misrepresentation about a product or service which is intended to cause damage to another party or consumer. In modern applications, fraudulent acts are considered to be white collar crimes.
Examples can include a stock broker giving information to a client in regards to particular stock shares. However, the information provided as to such stock shares is false or completely inaccurate. Because of the high sales commission, the stock broker stands to make a profit at the expense of the client. Such an action would constitute a form of fraud.