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Wire Fraud. DEFINITION of 'Wire Fraud'. A situation where a person concocts a scheme to defraud or obtain money based on false representation or promises. This criminal act is done using electronic communications or an interstate communications facility. BREAKING DOWN 'Wire Fraud'. Like any type of fraud, wire fraud is a federal offense.
Definition of Fraud. Fraud and related misconduct prohibited by this policy generally involves a willful or deliberate act or failure to act with the intention of obtaining an unauthorized benefit. Such acts include, but are not limited to: making or altering documents or computer files with the intent to defraud.