Wire Fraud

AAA

DEFINITION of 'Wire Fraud'

A situation where a person concocts a scheme to defraud or obtain money based on false representation or promises. This criminal act is done using electronic communications or an interstate communications facility.

INVESTOPEDIA EXPLAINS 'Wire Fraud'

Like any type of fraud, wire fraud is a federal offense. A person can be found guilty for their misuse of a communication facility, regardless of whether their scheme actually defrauded anyone.

RELATED TERMS
  1. Electronic Commerce - ecommerce

    A type of business model, or segment of a larger business model, ...
  2. Better Business Bureau - BBB

    The Better Business Bureau (BBB) aims to promote ethical business ...
  3. Currency Transaction Report - CTR

    A bank form used in the United States to help prevent money laundering. ...
  4. Cease And Desist

    An order given by a government administrative agency or the courts ...
  5. Accounting Error

    An error in an accounting item that was not caused intentionally. ...
  6. Caveat Emptor

    A Latin phrase for "let the buyer beware." The term is primarily ...
Related Articles
  1. Economics

    Online Investment Scams Tutorial

    To bamboozle someone out of their money is an age-old ruse. Learn about some of the gimmicks modern-day swindlers use and avoid becoming a statistic.
  2. Credit & Loans

    Protect Yourself From HELOC Fraud

    Identity thieves are using home equity lines of credit to commit their crimes.
  3. Investing Basics

    Policing The Securities Market: An Overview Of The SEC

    Find out how this regulatory body protects the rights of investors.
  4. Investing

    What's the difference between legal defalcation and illegal defalcation?

    Discover what is meant by the term ''defalcation'' and how it can be used in multiple contexts to describe illegal or legal activities.
  5. Savings

    What is the difference between an in-store and an online payday loan?

    Learn important differences between online and in-store payday loan companies. Explore different charges made by companies and assess their value.
  6. Retirement

    What are the most common scams regarding Social Security benefits?

    Learn about some of the most common Social Security scams that occur by phone, email and direct mail, and how to recognize and report Social Security fraud.
  7. Financial advisors must lead the charge against cybersecurity risks, for their clients and for their own practices.
    Investing News

    Educating Your Clients About Cybersecurity

    Financial advisors must lead the charge against cybersecurity risks, for their clients and for their own practices.
  8. 13.1 million people experienced identity fraud in 2013, according to Javelin Strategy and Research’s 2014 Identity Fraud Study.
    Credit & Loans

    Are You A Target For Identity Thieves?

    The Americans at highest risk for identity theft and identity fraud aren't the ones you most expect. See if you're on the high-risk list.
  9. Identity thieves have many ways to steal and abuse your personal and financial data.
    Credit & Loans

    Avoid Becoming An Identity Thief's Next Victim

    Use these 7 techniques to keep yourself under the radar and out of the way of identity thieves.
  10. The USA Patriot Act gave the government more muscle to fight financial crime after the Sept. 11 terrorist attacks. Here's an overview.
    Investing News

    How The Patriot Act Works & Why Is It Important

    The USA Patriot Act gave the government more muscle to fight financial crime after the Sept. 11 terrorist attacks. Here's an overview.

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center