Fraud vs Forgery
Difference between fraud and forgery is must know fact as fraud and forgery are not two alien terms for the modern world. We often see and hear of such stories in media. Fraud refers to any form of deception of an individual or organization for monetary gain. This is considered a crime by law. Forgery,on the other hand, is the act of imitating any form of an object to deceive someone. This clearly states that these are not the same. The difference between fraud and forgery is that the forgery is a form of fraud. The aim of this article is to explain the difference between fraud and forgery while explaining the terms individually.
What does Fraud mean?
Fraud is an intentional deception of another in most occasions for monetary gain. Nevertheless, this does not mean to say that it is always monetary gain, the nature of gain can differ. However, all forms of fraud are unlawful. Action can be taken in such cases since it is considered a crime that guarantees punishment for the perpetrator. Fraud can take man forms. Identity theft, tax fraud, bank fraud, legal fraud, election fraud, collateral fraud, intrinsic and extrinsic fraud are some forms of fraud. Now with the development of technology fraud has become so much easier. As a result, internet fraud has become very popular. The defrauding of credit cards through the internet where the owner’s information is used in order to make various purchases via internet is a simple example for fraud. There are a number of organizations that have been founded by governments and also nongovernmental organizations to reduce the menace of fraud. Yet this is not an easy battle to win.
What does Forgery mean?
Forgery is the action of creating an exact replica of an object with the intention of deceiving another. The object can be a document, statistics, painting, sculpture or any other form of an object. This replica or the fraudulent copy is usually called a forge. However, copying something does not necessary turn it to a forgery. The intention of deceiving and the misuse of objects have to be accompanied for it to be a forgery. We often hear of money or currency being forged. In this case, it is referred to as counterfeiting. Forgery is a just one technique of fraud. This is considered a crime.
What is the difference between Fraud and Forgery?
So to sum up, both fraud and forgery are considered crimes and are used in criminology as a criminal offence. However, fraud and forgery are not the same.
• Fraud refers to the willful deception of someone for the purpose of monetary gain.
• Fraud includes a variety of forms from tax fraud to bank fraud.
• Forgery, on the other hand, is also a deception of another through imitating an object. This replica allows the person to deceive others.
• So, forgery is usually a method used for fraud.
In today’s world, due to the rapid development of technology it has become difficult to fight fraud and forgery especially for legal authorities.