Question
Question In law, what are the three ways in which fraud can be committed? Select three options and then Confirm Failing to disclose information D Poor accountability False representation D Abuse of position Collaborating with outside parties
Answer
3.9
(320 Votes)
Xavier
Master · Tutor for 5 years
Answer
A, C, D.
Explanation
In the field of law, fraud is a deliberate deception to secure unfair or unlawful gain. Specifically, there are three typical ways categorized under which fraud could commonly occur according to Fraud Act 2006 in UK, they are: failing to disclose information, false representation, and abuse of position.Other options such as poor accountability and collaborating with outside parties could potentially lead to fraudulent activities, but they are not categorical ways in which fraud can be committed. Instead, they describe circumstances or actions surrounding the fraudulent activities.1. Failing to disclose information, refers to when someone fails to disclose any information to a party who, under the context/conditions, they are legally bound to provide the information.2. False representation typically involves someone presenting as true, any statement or fact that is actually not true or at least he/she doesn’t believe to be true.3. Abuse of Position involves individuals who are in trusted positions or possess authority misuse their power to result in a gain for themselves or a loss for others.Though fraud implementation varies by jurisdiction, the principles of fraudulent activities - deception, omission, misrepresentation - are commonly recognized universally.