What is the difference between scam and fraud?

[Good-Person]

When it comes to scam and fraud, there are many people who use these terms interchangeably. However, they are different. Scam usually involves a promise of returns on financial investments using technology. However, fraud usually involves deceiving people when it comes to traditional businesses. This is how I define them. So, what is the difference between the two?

 

[Frank]

I don't think that there is a big difference between scam and fraud. Both involve someone getting ripped of their money either the one they invested or the one they paid with hope that they are going to get a product or services. No matter which one is which, you will agree with me that someone was cheated during the course of the transaction.

 

[Grant]

Fraud is usually doing something against a company I believe, committing fraud. Maybe lying, and stealing from a business. As for scams, I think they can be just about anything. From small time crooks to wealthy people even. Check the dictionary definitions below.

fraud (noun) · frauds (plural noun)
wrongful or criminal deception intended to result in financial or personal gain

Scam
a dishonest scheme; a fraud

So yeah, kind of the same thing in a way.

 

[Heatman]

To the best of my knowledge, there's no difference between a scam and a fraud. They are both activities that's targeted at lying and deceiving some people who are gullible to take the lie and pay their money to the architect of the scam or fraud, who suddenly disappear with their money.

 

[Good-Person]

To the best of my knowledge, there's no difference between a scam and a fraud. They are both activities that's targeted at lying and deceiving some people who are gullible to take the lie and pay their money to the architect of the scam or fraud, who suddenly disappear with their money.

There might not be a really big difference between the two and in many cases many people use it in the same sense. The term "fraud" is usually uses much more commonly in our country because the term "scam" is not that common and it is mostly used to refer to online fraudulent schemes.

 

[Kane]

The meaning of scams and fraud differ according to where it is used. In banks and financial institutions, scams are the theft of money within your knowledge whereas frauds are the theft of money without your knowledge. Scams happen with your consent or knowledge and fraud happens without your consent or knowledge.