Free

Legal Issues of Fraud - Essay Example

Add to wishlist

Summary

The essay "Legal Issues of Fraud" focuses on the major legal issues of fraud. Fraud is defined as wrongful or criminal deception intended to result in financial or personal gain. It is also defined as the abuse of position, false representation, or prejudicing someone’s rights for personal gain…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER91.4% of users find it useful

Read Text Preview

Subject: Law
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 2
Author: parkerara

Extract of sample "Legal Issues of Fraud"

Fraud is a serious problem in the UK. Studies were carried out by National Economic Research Associates (NERA) and the Norwich Union to estimate the economic cost of fraud (NERA, 2000; Norwich Union, 2005). There are no conclusive published figures available on the extent of fraud in the UK. In January 2010, KPMG reported that 2009 saw record levels of fraud cases valued at more than £100,000 coming to court, with 271 cases valued at over £1.3 billion compared with 239 cases valued at over £ 1.1 billion in 2008.

Serious Fraud Office (SFO). Is an independent government department that investigates and prosecutes serious or complex fraud and corruption.

Ministry of Defense Ministry of Defense and fraud analysis unit delivers fraud awareness and prevention across the Ministry of Defense.

Business, Innovation, and Skills (BIS). Deters fraud in companies by investigating and prosecuting breaches of insolvency and Company Law.

Office of Fair Trading (OFT). Receives complaints from victims of fraud, scams, unfair terms, and cartels.

Department of Work and Pensions. Department of Work and Pensions has a fraud investigation service solely committed to stamping out fraud in pensions and benefit fraud.

The need for a new unified organization responsible for all the functions of detection, investigation, and prosecution of serious fraud cases.

An independent monitoring body (or fraud commission) is responsible for studying the efficiency with which fraud cases are conducted and making an annual report.

Cite this document

APA
MLA
CHICAGO

(“COMMERCIAL LAW Essay Example | Topics and Well Written Essays - 250 words - 3”, n.d.)
COMMERCIAL LAW Essay Example | Topics and Well Written Essays - 250 words - 3. Retrieved from https://studentshare.org/law/1644282-commercial-law

(COMMERCIAL LAW Essay Example | Topics and Well Written Essays - 250 Words - 3)
COMMERCIAL LAW Essay Example | Topics and Well Written Essays - 250 Words - 3. https://studentshare.org/law/1644282-commercial-law.

“COMMERCIAL LAW Essay Example | Topics and Well Written Essays - 250 Words - 3”, n.d. https://studentshare.org/law/1644282-commercial-law.

Cited: 0 times

CHECK THESE SAMPLES OF Legal Issues of Fraud

Mortgage fraud

This article explores the subject of mortgage frauds under the next divisions: Risk factors for mortgage frauds; Types of mortgage frauds; Income fraud; Employment fraud; Failure to disclose liabilities; Identity theft; Appraisals fraud; Illegal property flipping; Foreclosure frauds; Mortgage fraud trends.... As the rates of foreclosure and delinquency keep on soaring, the real estate market will remain sluggish while the mortgage fraud cases will keep increasing....

12 Pages (3000 words) Term Paper

Healthcare Fraud Issues

Defining Fraud Fraud: Practitioners and academicians have defined fraud from numerous perspectives, in order to have a clarity about fraud, the following definitions of fraud as defined in health care context were retreived from the published literature:, “fraud is an intentional deception or misrepresentation that someone makes, knowing it is false, that could result in the payment of unauthorised benefits.... ractitioners and academicians have defined fraud from numerous perspectives, in order to have a clarity about fraud, the following definitions of fraud as defined in health care context were retreived from the published literature:, 'fraud is an intentional deception or misrepresentation that someone makes, knowing it is false, that could result in the payment of unauthorised benefits....

8 Pages (2000 words) Essay

The Fraud Act 2006 in the UK

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.... 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 offense of fraud but recognized on an evocative manner.... 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....

10 Pages (2500 words) Essay

Social, Professional and Ethical Issues in Information System

From 'Right to Access Personal Data' to 'Code of Practice', 'Restrictions' and 'Penalties', every topic has been discussed to minimize chances of confusion regarding fraud data usage (Legislation.... According to 'The 2013 Identity fraud Report' issued by the 'Javelin Strategy and Research' it was revealed that more than $21 Billion have been stolen through different online fraud cases in banks.... This review ''Social, Professional and Ethical issues in Information System'' tells that there are numerous issues regarding privacy and online banking, which has shown the failure of the IT systems....

7 Pages (1750 words) Literature review

W7 Legal Discussion

Several experts have indicated that the amount of monies that go away from the national coffers as a result of fraud in the health sector is sufficient in revamping the sector and ensuring that the issue of high cost of services becomes a thing of the past (Morris, 2009).... Meanwhile, there are major loopholes that come in the form of fraud, which create huge spaces W7 LEGAL DISCUSSION School: Lecturer: W7 LEGAL DISCUSSION Several experts have indicated that the amount of monies that goaway from the national coffers as a result of fraud in the health sector is sufficient in revamping the sector and ensuring that the issue of high cost of services becomes a thing of the past (Morris, 2009)....

2 Pages (500 words) Essay

Health Care Fraud

trillion dollars, the system is vulnerable to numerous fraud attacks.... This is so because every year numerous doctors are convicted of committing a health fraud.... In America, the problem of health care fraud has been called as one of the most massive and persistent financial failures (Sparrow, License To Steal: How fraud Bleeds America's health care system).... The figures pertaining to health care fraud are so staggering that around 10% of the federal health care budget is lost to fraud (Krause) like doctors and healthcare providers form an integral part in many of these frauds....

12 Pages (3000 words) Research Paper

Accounting Fraud - Sunbeam Corporations Financial Reporting Issue

The paper "Accounting fraud - Sunbeam Corporations Financial Reporting Issue" is a perfect example of a case study on finance and accounting.... This report focuses on a complete analysis of an incident involving fraud and forensic accounting.... The paper "Accounting fraud - Sunbeam Corporations Financial Reporting Issue" is a perfect example of a case study on finance and accounting.... This report focuses on a complete analysis of an incident involving fraud and forensic accounting....

13 Pages (3250 words) Case Study

Fraud Examination

stablish and evaluate the allegation of fraud in a bid to establish its credibility.... The paper ''fraud Examination '' is a great example of Finance & Accounting case study.... The paper ''fraud Examination '' is a great example of Finance & Accounting case study.... The paper ''fraud Examination '' is a great example of Finance & Accounting case study.... edford's law may be used to detect fraud relating to accounts payable, accounts receivable, expenses, and sales data all of which are based on values from two multiplying two variables together in terms of quantities and prices (Albrecht and Chad, 2011)....

14 Pages (3500 words) Case Study