Fraud is an intentional deception or misrepresentation that an individual knows to be false or does not believe to be true and makes knowing that the deception could result in some unauthorized benefit to himself/herself or some other person.

True

Explanation:

Fraud can be defined as the intentional misrepresentation of a fact, it is the intentional deception to secure unlawful and unfair gain is called Fraud. It can violate civil and criminal law and the violator can be imprisoned or prosecuted by government agencies.

The fraud can be considered as an element of criminal and civil wrong even if it has not caused loss of legal right, property or money. The purpose of fraud is to get benefit or any type of monetary gain,

Bank account takeover, voter fraud Internet fraud are some of the different types of frauds.