{"id":6,"date":"2009-12-10T07:49:19","date_gmt":"2009-12-10T07:49:19","guid":{"rendered":"https:\/\/www.onverify.com\/blog\/?p=6"},"modified":"2024-11-15T07:36:08","modified_gmt":"2024-11-15T07:36:08","slug":"definition-of-fraud","status":"publish","type":"post","link":"https:\/\/www.onverify.com\/blog\/2009\/12\/10\/definition-of-fraud\/","title":{"rendered":"Fraud"},"content":{"rendered":"<h1>Fraud<\/h1>\n<div>Pronunciation: \\\u02c8fro\u0307d\\<\/div>\n<div>Function: <em>noun<\/em><\/div>\n<div>Etymology: Middle English <em>fraude,<\/em> from Anglo-French, from Latin <em>fraud-, fraus<\/em><\/div>\n<div>Date: 14th century<\/div>\n<p><!--INFOLINKS_ON--> <strong>1 a<\/strong> <strong>:<\/strong> deceit, trickery; <em>specifically<\/em> <strong>:<\/strong> intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right <strong>b<\/strong> <strong>:<\/strong> an act of deceiving or misrepresenting <strong>:<\/strong> trick<br \/>\n<strong>2 a<\/strong> <strong>:<\/strong> a person who is not what he or she pretends to be <strong>:<\/strong> impostor; <em>also<\/em> <strong>:<\/strong> one who defrauds <strong>:<\/strong> cheat <strong>b<\/strong> <strong>:<\/strong> one that is not what it seems or is represented to be<\/p>\n<div><strong>synonyms<\/strong> see deception, imposture<\/div>\n<div><\/div>\n<h1>Credit Card Fraud<\/h1>\n<div>\n<p><strong>Credit card fraud<\/strong> is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft. According to the Federal Trade Commission, while identity theft had been holding steady for the last few years, it saw a 21 percent increase in 2008. However, credit card fraud, that crime which most people associate with ID theft, decreased as a percentage of all ID theft complaints for the sixth year in a row.<sup id=\"cite_ref-0\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/Credit_card_fraud#cite_note-0\">[1]<\/a><\/sup><\/p>\n<p>The cost of card fraud in 2006 were 7 cents per 100 dollars worth of transactions (7 basis points)<sup id=\"cite_ref-1\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/Credit_card_fraud#cite_note-1\">[2]<\/a><\/sup>. Due to the high volume of transactions this translates to billions of dollars. In 2006, fraud in the United Kingdom alone was estimated at \u00a3535 million,<sup id=\"cite_ref-2\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/Credit_card_fraud#cite_note-2\">[3]<\/a><\/sup> or US$750\u2013830 million at prevailing 2006 exchange rates.<sup id=\"cite_ref-Exchange_rates_from_Yahoo_3-0\"><a href=\"http:\/\/en.wikipedia.org\/wiki\/Credit_card_fraud#cite_note-Exchange_rates_from_Yahoo-3\">[4]<\/a><\/sup><\/p>\n<p><a href=\"http:\/\/en.wikipedia.org\/wiki\/Credit_card_fraud\">Original Document<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fraud Pronunciation: \\\u02c8fro\u0307d\\ Function: noun Etymology: Middle English fraude, from Anglo-French, from Latin fraud-, fraus Date: 14th century 1 a : deceit, trickery; specifically : intentional perversion of truth in order to induce another to part with something of value<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.onverify.com\/blog\/2009\/12\/10\/definition-of-fraud\/\">Read more <span class=\"screen-reader-text\">Fraud<\/span><span class=\"meta-nav\"> &#8250;<\/span><\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-6","post","type-post","status-publish","format-standard","hentry","category-fraud"],"_links":{"self":[{"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/posts\/6","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/comments?post=6"}],"version-history":[{"count":3,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/posts\/6\/revisions"}],"predecessor-version":[{"id":359,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/posts\/6\/revisions\/359"}],"wp:attachment":[{"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/media?parent=6"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/categories?post=6"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onverify.com\/blog\/wp-json\/wp\/v2\/tags?post=6"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}