Abstract
Fraud is a type of property crime in which a person obtains property through the use of misleading, untruthful, or deceptive information or behavior. Fraud is also known as theft by deception. Types of fraud that occur frequently include securities fraud, Ponzi schemes, services fraud, insurance fraud, health care fraud, tax fraud, and identity theft. This is not an exhaustive list and fraud has the potential to take place in almost any business or personal context. Fraud is monitored by a number of agencies, including local law enforcement, the Federal Bureau of Investigation, and the Department of Health and Human Services. Measures that have been taken to prevent fraud include the creation of the Health Care Fraud Prevention and Enforcement Action Team and the passing of the Sarbanes–Oxley Act, as well as other legislation.
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