Fraud – Meaning
Any illegal acts characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the application or threat of violence or of physical force. Fraud is perpetrated by parties and organizations to obtain money, property, or services to avoid payment or loss of services or to secure personal or business advantage.
- Falsification or alteration of accounting records,
- Misappropriation of assets or theft,
- Suppression or omission of the effects of transactions from records or recording of transactions without substance,
- Intentional misapplication of accounting policies or willful misrepresentation of transactions or of the entity’s state of affairs,
- Misapplying corporate or bank funds Fraud may also involve manipulation of information system applications and data for personal advantage.
How to prevent Frauds?
Scams can be clever, but not clever enough; if you know how they work and how to avoid them here few are few ways to prevent fraud. Check here for the ways to Prevent Frauds.
It’s not always easy to spot a fraud/scam, and new ones are invented every day.
If you suspect that you may be a target of fraud, or if you have already sent funds, don’t be embarrassed – you’re not alone. If you want to report a fraud, or if you need more information, contact FundsTiger.com
Ways to report Fraud
By Phone – 9339 777 111
Hours of operation –Monday-Friday (9:00 am – 6.00 pm)
Email – email@example.com
Online – FundsTiger.com