Fraud can be used in a variety of specific ways, but in the most general sense, it refers to an act that involves intentional deception with the aim of gaining something for one’s self. In the process, another person suffers damages in the monetary sense. Two factors are important when classifying an act as fraud: the intent and the monetary nature of the damages. Another term that is commonly used in relation to fraud is its adjective form - fraudulent.
There are many types of fraud. This is especially true in this day and age in which technology has made it easier for people to commit fraudulent acts. One common kind of fraud is called bait-and-switch. This happens in the field of retail sales and what happens is that a product or service is advertised differently from what it actually is. For example, the advertised price may be far lower than the actual price. Alternatively, the actual features of the product or service are not all available as advertised.
Another common type of fraud is embezzlement, which is the inappropriate use of assets that have been entrusted to an individual. For example, a cashier can take some money from the till for his or her own use. Another example is if a financial advisor channels part of the funds of his or her client. These are both cases of embezzlement.
If you feel that you have been a victim of fraud, you ought to get in touch with a lawyer. It is not always easy to prove fraud in court as you have to prove the intention behind the act.