We appreciate your visit to What is the definition of Fraud A Fraud includes inaccurate payments for services such as unintentional duplicate payments and can include inappropriate utilization and or. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
Fraud is intentionally deceiving someone to gain something of value, such as money or services. It includes a wide range of activities from healthcare fraud, which costs billions annually, to voter fraud and falsified academic data. The intent to deceive is central to all types of fraud. So the correct option is C
Explanation:
The definition of fraud is most accurately described as intentionally misrepresenting or concealing facts to obtain something of value. This involves a deliberate act of deception to gain an unfair advantage, which can be in various forms such as financial, property, or services. Examples of fraud include billing for medical services not rendered, selling products with misleading claims of efficacy, and voter impersonation. In the context of healthcare, fraud can lead to significant losses, estimated to be around $100 billion per year, by billing for non-existent treatments or patients. Additionally, voter fraud and election fraud encompass illegal practices that undermine the fairness of elections, though significantly less common in modern times. Fraud also extends to the academic and professional realm, where falsifying data or credentials can lead to serious ethical and legal consequences.
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