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Confidence tricks exploit characteristics such as greed, [9] dishonesty, vanity, opportunism, lust, compassion, credulity, irresponsibility, desperation, and naïvety. As such, there is no consistent profile of a confidence trick victim; the common factor is simply that the victim relies on the good faith of the con artist.
In law, fraud is an intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law or criminal law, or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. [1]
Nina Kollars of the Naval War College explains an Internet fraud scheme that she stumbled upon while shopping on eBay.. Internet fraud is a type of cybercrime fraud or deception which makes use of the Internet and could involve hiding of information or providing incorrect information for the purpose of tricking victims out of money, property, and inheritance.
The fraud centered around the laundering of over $10 billion between FTX and Alameda Research, another company owned by Bankman-Fried. [ 15 ] Jordan Belfort swindled over $200 million via a penny stock boiler room operation.
The 31-year-old admitted nine counts of fraud by false representation at Salisbury Magistrates' Court on Thursday and is due to be sentenced on 12 March. PC Bues, from Wiltshire Police, described ...
Mass-marketing fraud (or mass market fraud) is a scheme that uses mass-communication media – including telephones, the Internet, mass mailings, television, radio, and personal contact – to contact, solicit, and obtain money, funds, or other items of value from multiple victims in one or more jurisdictions. The frauds where victims part with ...
Affinity fraud is a form of investment fraud in which the fraudster preys upon members of identifiable groups, such as religious or ethnic communities, language minorities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are – or successfully pretend to be – members of the group.
The fraudster was placed in a Waco detention center and went to trial in April, where he was convicted of four counts of wire fraud and one count of money laundering.