ASIS Protection Of Assets (POA) – Security Management Practice Exam

How is fraud best defined?

intentional deception perpetrated for the purpose of lawfully taking another's property or, more simply, theft by deception. Unlawful seizure of property by force. Unauthorized borrowing of property with the intent to return. Taking property temporarily without permission but intending to return it.

Correct Answer:

intentional deception perpetrated for the purpose of lawfully taking another's property or, more simply, theft by deception.

Explanation:

Fraud is intentional deception used to unlawfully take someone else’s property. The crucial element is deception—misrepresenting or concealing facts to induce the owner to part with their property, with the intent to deprive them permanently. That makes this definition the best fit because it explicitly includes both the deceit and the purpose of theft. The other scenarios describe actions that don’t hinge on deceit: taking by force amounts to robbery, while unauthorized borrowing or temporary taking without permission may be wrong or unlawful, but they lack the deceptive element required for fraud.

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