1.2. Definition of Fraud
| No: 000044021528 | Date(g): 11/10/2022 | Date(h): 16/3/1444 | Status: In-Force |
Fraud is defined as any intentional act that aims to obtain an unlawful benefit or cause loss to another party. This can be caused by exploiting technical or documentary means, relationships or social means, using functional powers, or deliberately neglecting or exploiting weaknesses in systems or standards, directly or indirectly.
To support the definition of fraud, Member Organisations should take note of the non-exhaustive list of fraud types included in the Appendix.