FRAUDBASICS

The Many Faces of Fraud


By excerpted from the Fraud Examiners Manual, 2.201-2.207, Third Edition Updated 2000-2001

A review of the legal definitions of the principal types of fraud will help sharpen our focus in searching for white-collar criminals.  

You may be new to the fraud examination arena or you may have been in the business for decades and you have the low CFE number to prove it. Regardless, you still may want to review the legal descriptions of the principal types of fraud.

Main Fraud Categories
The principal categories of fraud (or white-collar crime) are:

  • Misrepresentation of material facts
  • Concealment of material facts
  • Bribery
  • Conflicts of interest
  • Theft of money or property
  • Theft of trade secrets or intellectual property
  • Breach of fiduciary duty

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