FRAUD UNDER INDIAN CRIMINAL JUSTICE SYSTEM

AUTHOR – ANJALI KUMARI, Student of TEERHANKER MAHAVEER UNIVERSITY, College of Law and Legal Studies, Moradabad

Best Citation – ANJALI KUMARI, FRAUD UNDER INDIAN CRIMINAL JUSTICE SYSTEM, INTERNATIONAL JOURNAL OF CRIMINAL JURISPRUDENCE, 1 (1) of 2023, Pg. 83-82, ISBN – 978-81-960677-6-2.

Abstract

Fraud is an illegal act of cheating someone so that he/she can get money or some profit. As per law, fraud is the intentional duplicity to satisfy inappropriate gain from illegal practices. Fraud can contravene civil law as well as criminal law, or it may underlay no any disadvantage of wealth, assets, or statutory right but still be a constituent of some other civil or criminal demerits. The purpose of fraud may be economic profit or some other advantages. Internal fraud, commonly known as “insider fraud”, is fraud entrusted or to make an effort to accomplish an end by someone within an institution such as a functionary. Fraud completely belongs to the intention of the person who is involved in it and it is done to endow the culprit some illegal profit. Types of fraud comprise tax fraud, credit fraud, fraud related to wire, securities fraud, and bankruptcy fraud. The activity of fraud can be done by either one person or group of person or may by a business firm as a whole. Fraud also deals with the unusual or false representation of the facts to other person for the purpose of earning profit. In other words it can be said that fraud is the taking of advantage of the given information specifically. It is something which is equally punishable in the eyes of law like the other crimes.