The Elements of Fraud and the Basic Sanction
Fraud is the offence that holds the key to every prevention programme. Under the law, fraud is the appropriation of another person’s property or the acquisition of a property right by deception, with the aim of unlawful appropriation. This act is punishable by a fine or community service for a term of one hundred seventy to two hundred hours, or corrective labour for a term of up to two years, or house arrest for a term of one to two years, or imprisonment for a term of two to four years. Even simple fraud therefore entails serious liability, and for a business the practical lesson is that the moment of apparent trust — a convincing partner, an urgent request, a plausible story — is precisely the moment against which this norm is directed.