Wire Fraud Act
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A Wire Fraud Act is a fraud act that involves the use of electronic communication tools.
- Context:
- It can (typically) require a conscious intention to swindle and the utilization of cross-state or international communications.
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- Example(s):
- a Phishing Scam, where the perpetrator tricks victims into revealing sensitive information through fraudulent electronic communication.
- an Advance-Fee Fraud, where the fraudster requests an upfront fee from the victim in exchange for a promised benefit that never materializes.
- a Business Email Compromise, where fraudsters impersonate high-ranking executives within an organization to deceive employees into making wire transfers to fraudulent accounts.
- a Romance Scam, where scammers establish fake romantic relationships with individuals, gaining their trust before requesting financial assistance via wire transfers.
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- Counter-Example(s):
- See: Cybercrime.
References
2023
- (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Mail_and_wire_fraud#Wire_fraud Retrieved:2023-11-5.
- Mail fraud and wire fraud are terms used in the United States to describe the use of a physical or electronic mail system to defraud another, and are U.S. federal crimes. Jurisdiction is claimed by the federal government if the illegal activity crosses interstate or international borders.
2023
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- Wire fraud is a criminal act that involves exploiting electronic communication tools like emails, telephone calls, and social media platforms to acquire money or property unlawfully. It necessitates a conscious intention to swindle and the deployment of cross-state or international communication. Individual perpetrators or organized entities may use a number of strategies, from phishing scams to advance-fee frauds, to execute wire fraud.