Fraud refers to wrongful or criminal deception intended to result in financial or personal gain. It encompasses a wide range of illicit activities where an individual or entity misrepresents the truth to deceive another, often leading to a loss or harm. Common forms of fraud include identity theft, credit card fraud, insurance fraud, and investment fraud. The key elements of fraud typically involve a false statement or misrepresentation, intent to deceive, reliance on the deception by the victim, and resulting damages. Fraud is both a legal and ethical issue, often prosecuted as a crime and addressed through civil litigation.
Sunwells, a major company in the elder care sector, is embroiled in a scandal involving false billing practices amounting to 28.47 billion yen. The fraud involved inflating visit durations and…