Understanding the types of fraud
Fraud entails deception. The kind of deception depends on the fraud being perpetrated. For example, a compelling product message could result in identity theft, stolen credentials, or other resource gains for the perpetrator. Creating a condition in which one entity receives the blame for another entity’s actions is another form of fraud. When considering fraud, it pays to have a Machiavellian mindset because the deception can become quite complex. However, the majority of fraud is quite simple: someone is deceived into giving someone else a resource the other wants for no apparent return. It amounts to a kind of theft.
There are many types of fraud. Some are watched by professionals, while others aren’t, possibly because no one thinks to monitor them. With this in mind, here are a few common types of fraud that professionals do monitor: