Corporate Compliance

Q&A: What is fraud?

Compliance Monitor, December 8, 2010

Q: What is fraud?

A: Fraud includes the following:

  • Crimes of guile and deceit
  • Intentional and material false statements or representations made to obtain some benefit to which one is not entitled
  • Reckless disregard for compliance with statutes, rules, and regulation
  • Violations that occur when actions are committed for self or on behalf of another party
  • Act performed knowingly, willfully, and intentionally
  • Violation that warrant criminal, civil, or administrative action

This week’s question and answer was adapted from The Compliance Officer’s Handbook. For more information about the book or to order your copy, visit the HCMarketplace.