Using 100 words or more, please respond to the following post. Both fraud and counterfeit are alike. 

Using 100 words or more, please respond to the following post. Both fraud and counterfeit are alike.

Using 100 words or more, please respond to the following post:

Both fraud and counterfeit are alike. While fraud is an act of offence a person willfully and with the intent to deceive another, take their property or money, or make them act in a particular manner, which they would not if truth was disclosed, counterfeit is an act of producing materials or items which are not original in nature. As such, both crimes have an element of deceit attached to them. For example, a fraudulent activity of selling a piece of land that does not belong to the seller is a white collar crime. While the buyer is unaware of the ownership of the property to be sold, he is defrauded of his money while the real owner is taken advantage of his property. Also, an act of producing an item such as a bar soap using the name, logo, and/or design of an existing company without its knowledge or permission with the intent of copying the brand and passing it on as original one is a crime. The buyers of the product are unlikely to know the differences. As a result, they are misled into buying the wrong items.

On the other hand, there exists a difference between these law breakings. A fraud takes place in form of exchanging property, especially money. The fraudster either makes an untrue statement or representation, which is relied upon by another to change their position, form a contractual agreement, and give a consideration for the same. In counterfeit, an actual object is made through processing, manufacturing, minting, writing, or in other forms, which produce an object. It is these objects that are used to acquire wealth from others.

Answer preview Using 100 words or more, please respond to the following post. Both fraud and counterfeit are alike.

APA

248 words