The scale of the problem in fraud is pointed to the need for a small but high-powered body to bring together the numerous counter-fraud initiatives that existed. To establish a claim of fraud, most jurisdictions in the some country is require that each element be plead with particularity and in fraud be proved with clear, cogent, and convincing evidence. The measure of damages in fraud cases is computed using the “benefit of bargain” rule, which is the difference in fraud between the value of the property had it been as represented and its actual value caused by defendant’s fraud Special damages may be allowed if shown proximately and in fraud the damage amounts are proved with specificity.
The typical organization loses five percent of its annual revenue to fraud with a media loss. Frauds committed by owners and executives were more than nine times as costly as employee fraud. The industries most commonly affected are banking, manufacturing, and government. Fraud can be committed through many media, including mail, wire, phone, and the Internet i.e. computer crime and Internet fraud.
In some countries, tax fraud is also prosecuted under false billing or tax forgery. There have also been fraudulent “discoveries” in fraud, e.g., in science, to gain prestige rather than immediate monetary gain. Beyond laws that aim at prevention of fraud, there are also governmental and non-governmental organizations that aim to fight fraud steal credit card details have all contributed to the very rapid growth of Internet fraud.