StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Fraud Act 2006 in the UK - Essay Example

Comments (0) Cite this document
Summary
In the paper “The Fraud Act 2006 in the UK” the author discusses the Fraud Act, which substituted the deception crimes included in the Theft Acts 1968-1996 with a more general offense of fraud. The offense under the Frauds Act 2006 is punishable if charges are proved with a fine…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
The Fraud Act 2006 in the UK
Read Text Preview

Extract of sample "The Fraud Act 2006 in the UK"

Download file to see previous pages In the UK, the Fraud Act 2006 came into force during January 2007, and it substituted the deception crimes included in the Theft Acts 1968-1996 with a more general offence of fraud, which can be done in the following ways namely fraud by failing to divulge information, fraud by dishonesty or deceitful representation and fraud by misuse of position and authority. The offence under the Frauds Act 2006 is punishable if charges are proved with a fine or with an imprisonment of ten years or with both. It is punishable by a fine not in excess of the statutory maximum or sentence for a period of not exceeding six months or with both. Under tort of deceit, a person may claim damages if the fraud committed is resulted in injury to the affected party. On the ground of fraudulent misrepresentation, a contract may be voidable if it has been obtained by fraud. (Law & Martin 2009:240). Courts in England have not yet prepared to prescribe exactly what can be regarded as fraud. It is to be noted that the Serious Fraud Office (SFO) which was formed on the recommendation of the Roskill Report in 1984 had not taken into account the offence of fraud but recognised on an evocative manner, many fraud crimes which UK’s Home Office employs even today. (Ramage 2005:4). As on date, in UK, there exists no statutory offence of fraud and the Home Office of UK has set out some kind’s criminal activities that can be regarded as offences of fraud in “Counting Rules for Recording Crime.” According to a publication made by the Home Office in April 2003, describing the following as offences of “forgery and fraud.” Frauds by an individual include common law offence of conspiracy to defraud, under the Proceeds of Crime Act 2002, fraudulent misappropriation of funds, obtaining a money transfer through credit card or cheque fraud under section 12 of the Theft Act 1987. (Ramage 2005:104).In Cronos Containers NV v Palatin, the defendants were Klamath Enterprises SA and Mr. and Mrs. Palatin. The shares of Klamath were owned by Mr. Palatin. In 1994, Mr.Palatin deceived the plaintiff by making five different payments from one of the Plaintiff’s clients, and the same was credited into Barclays bank account owned by Paladins. Then, such defrauded sums were employed by the defendants to renovate a property held by Klamath. (Ramage 2005:4). Conspiracy to Defraud Under Common Law It falls under consent to divest deceitfully somebody’s right or to abuse somebody’s property privilege. In Scott v Metropolitan Police Commissioner2, S agreed with workers of a cinema theatre to take copies of cinema screened in that theatre without the approval of the owner with an objective of commercial distribution held to be a conspiracy to defraud under common law. In Wai Yu-Tsang v R3, A acted in concert with bank employees to camouflage in the bank accounts the fact about dishonoring of cheques which the bank had already purchased so as to prevent a bankruptcy by the bank, and A was held for the guilty of conspiracy to fraud. According to Lord Goff, conspiracy to fraud does not restrict to the notion of divesting somebody with something of value, but it also falls under deceit and fraud and if somebody may be discriminated in any way by the deceit or fraud. (Fionda & Bryant2000:154).  ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Fraud Act 2006 in the UK Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.org/law/1430212-frank-is-a-senior-accountant-in-a-large-company
(The Fraud Act 2006 in the UK Essay Example | Topics and Well Written Essays - 2500 Words)
https://studentshare.org/law/1430212-frank-is-a-senior-accountant-in-a-large-company.
“The Fraud Act 2006 in the UK Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/law/1430212-frank-is-a-senior-accountant-in-a-large-company.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Fraud Act 2006 in the UK

The Act of Storing Food and Making Food

When corn was first discovered, people fell in love with how available it was, and how simple it was to just pick, husk, and eat. They were also pleased that they could store it and use it as needed when they needed to. It was a perfect grain for traveling pilgrims during those times. Without humans, corn could not survive, as it needed to be husked to drop its seeds.
In chapter two, it is learned how important the workings of a farm are to food production. Everything from the soil that plants and grains are grown in, to the machines used to produce items for cooking play huge roles in the larger scheme of things. Even the grain that is fed to the animals has to be the best kind, to produce the best meat for sale. Everything...
14 Pages (3500 words) Literature review

The Trade Union Movement in the UK

Before the ERA 1999, union membership and recognition in the UK were characterized by voluntarism, in which employers and employees could bargain over the terms and conditions of employment without any legal interference. With the statutory system ushered in by the new law, voluntary recognition of unions is no longer allowed and it becomes unlawful for British employers to deny recognition to unions under any circumstances. That conveys the impression that ERA created a radical change in British industrial relations. This paper takes the contrary view, however, and proposes that while the new industrial relations law looks revolutionary in principle, there are no fundamental changes in actuality for the change to qualify as &ldqu...
8 Pages (2000 words) Case Study

The Sale of Goods Act

The goods purchased in contracts should be of satisfactory quality as established by Section 14(2) of the Sale of Goods Act. However, this statutory requirement is applied to goods sold in the normal course of the business. In addition, goods supplied in contracts should have satisfactory quality and should be reasonably fit for the purpose for which the buyer had bought them.
Goods supplied must conform to their original description made at the time of entering into the contract. These requirements benefit the buyer and the supplier will be held liable if these requirements are breached. Essentially, the Sale of Goods Act ensures that the goods supplied must be of satisfactory quality and this requirement applies to the sale...
11 Pages (2750 words) Case Study

The British Constitution vs The Human Rights Act 1998

This research essay analyses the above statement and arrives at a conclusion.
Integration of the provisions of ECHR into U.K’s domestic law by way of HRA 1998 can be regarded as revolutionary as it facilitates the majority of the ECHR rights provisions directly applicable in the U.K. Before that integration, a U.K Court has to presume that when there is a clash between U.K’s domestic law and ECHR rights provision, the ECHR rights provision will always prevail. This principle has been laid down in R v Secretary of Home Dept ex parte Brind1 and R v Secretary of Home Dept ex parte Thakrar. 2
Courts have now the power to declare any statue which they find incompatible with ECHR provisions and order for fine-tunin...
9 Pages (2250 words) Case Study

Analysis of Offences Against the Person Act

She suffered sleeplessness and panic attacks after this and was diagnosed with reactive depression. She told her brother, Ian, who saw Boris in the local pub and threw his beer glass into Boris’s face. The glass broke and Boris lost the sight in one eye as a result. Explain what non-fatal offences may have been committed here. It is also necessary to consider the Sexual Offences Act 2003 as the act of the hypnotist could be regarded as a sexual1.

The most minor assault is common assault as described by s39 Criminal Justice Act 1988. Under s39 an assault is committed if a person assaults another or commits a battery. An assault has been defined as when a person intentionally or recklessly causes another to app...
6 Pages (1500 words) Case Study

Credit Crunch in the UK

To sell more profitable subprime mortgages, mortgage companies bundled the debt into consolidation packages and sold the debt on to other finance companies. In other words, mortgage companies borrowed to be able to lend mortgages. For example, the lending was not financed out of saving accounts (Mortgage Guide).

These mortgage debts were bought by financial intermediaries. The idea was to spread the risk, but, actually, it just spread the problem. Usually, subprime mortgages would have a high-risk assessment rating. But, when the mortgage bundles got passed onto other lenders, rating agencies gave these risky subprime mortgages a low risk rating. Therefore, the financial system denied the extent of risk in their balance...
8 Pages (2000 words) Case Study

The Treason Act of 1351

...The ability and responsibility to promote human rights rests on everyone’s shoulders; but what is acceptable behavior in attempting to prevent a terrible act from occurring, and what is rightfully considered treason? And in terms of ruling courts of law, who should decide what is and is not acceptable? The Treason Act of 1351 was originally written in Norman French, and has gone through several revisions. The Fifth Statute defines treason in the following manner: “II. ITEM, Whereas divers Opinions have been before this Time in what Case Treason shall be said, and in what not;1 the King, at the Request of the Lords and of the Commons, hath made a Declaration in the Manner as hereafter followeth, that is to say; When a Man doth compass...
6 Pages (1500 words) Essay

Emergency Economic Stabilization Act of 2008 and How It Has Impacted the Financial Markets

Though there were objections from various quarters about the huge amounts of tax payer’s money being used in the bailout of huge corporates, the Act has been successful in moving the downturn towards a flat point and now has started slowly moving towards a recovery stage. The various programs under the EESA 2008 have played a significant role in the financial sector, housing mortgage, and banking institutions to save the institutions from complete disaster.

The Emergency Economic Stabilization Act is a huge taxpayer bailout designed to rescue the financial sector. The amount of money to be used is around $700 billion or $2000 per American citizen (Public mark up). Emergency Economic Stabilization Act of 2008 is al...
10 Pages (2500 words) Research Paper

Contrast of Two Explanations of Social Disorder in Contemporary UK Society

As the process of urbanization takes off and more people start residing in major cities, the fissures start to appear within the apparent harmonious co-existence. There are several reasons why disorderly conduct on part of individuals and groups takes place. Sociologists have proposed numerous theories explaining this phenomenon.

Erving Goffman was an astute observer of society, who immersed himself in the social environment which he was studying. He carefully observed and recorded the ways in which people’s behavior and interpersonal interactions are carried out in everyday life. He notes that “people perform their social roles and, as they do so, they produce social order through their actions and the regu...
6 Pages (1500 words) Article

The Key Macro Factors that Have Influenced the UK Grocery Retailing Industry since the Early 1960s

... accounting for macro economic factors in strategy development and management, a business will fail (Johnson et al, 2008, p.3). If we consider this contextually with regard to the UK grocery market; the move demise of the local high street store to the dominance of supermarkets in the past 20 years has radically transformed the grocery market ( Henry, 2008, p.77). For example, the DEFRA Economic Note on UK Grocery Retailing (2006) indicates that in addition to continued growth in the UK Grocery Retail sector; approximately “3/4 sales are made in supermarkets and superstores… with traditional small retailers now accounting for only 7% of sales” (DEFRA, 2006). It is submitted that a key element of this is effective interrelationship between...
13 Pages (3250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The Fraud Act 2006 in the UK for FREE!

Contact Us