In the UK (England, Wales, and Northern Ireland), fraud is mainly defined by the Fraud Act 2006 as:
Dishonestly acting with the intention of making a gain for yourself or another person, or causing loss (or risk of loss) to another person. (cps.gov.uk)
The Act says fraud can be committed in three main ways:
- Fraud by false representation – making a false or misleading statement, knowing it may be untrue. For example, lying on a loan application. (cps.gov.uk)
- Fraud by failing to disclose information – not revealing information when there is a legal duty to do so. (cps.gov.uk)
- Fraud by abuse of position – abusing a position of trust for personal gain or to cause loss to another. (cps.gov.uk)
Importantly, the prosecution does not need to prove that anyone actually lost money or that the fraudster successfully gained anything. The offence can be complete if the dishonest act was carried out with the required intent. (cps.gov.uk)
Simple definition: Fraud is the dishonest use of deception, concealment, or abuse of trust to obtain a benefit or cause a loss. (LexisNexis)
