Fraud Facts

This page provides a quick overview of some of the common questions regarding fraud. For more information, see the Introduction to Fraud Research.

This Center generally adheres to the definition of fraud presented below, which was established by Richard M. Titus, Fred Heinzelmann, and John M. Boyle in Victimization of Persons by Fraud (1995).

  • Fraud is “the deliberate deception of an individual with the promise of goods, services or other financial benefits that are actually nonexistent, were never intended to be provided, or were grossly misrepresented.” Victimization of Persons by Fraud, Titus et al., 1995

In the context of financial fraud as elder abuse, the Center adheres to the following definition:

  • Elder financial abuse is “the unauthorized or illegal taking of funds or property of people aged 60 and older.” Broken Trust: Elders, Family, and Finances, MetLife, 2009

What is the RATE of fraud?

What are different TYPES of fraud?

What are the METHODS of fraud?

Who are the VICTIMS of fraud?

PDF of Fraud Facts

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