Fraud is an intentional deception or misrepresentation made by an individual or a group of individuals for personal gain or to cause harm to another party. In the context of business, fraud can take many forms, such as financial fraud, identity theft, and insider trading, among others. It is a serious offense that can lead to civil and criminal penalties. It is important for companies to have proper measures in place to prevent and detect fraud, such as regular audits, internal controls, and employee training programs.
