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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.
In the United States, mail and wire fraud is any fraudulent scheme to intentionally deprive another of property or honest services via mail or wire communication.It has been a federal crime in the United States since 1872.n the United States, mail and wire fraud is any fraudulent scheme to intentionally deprive another of property or honest services via mail or wire communication. It has been a federal crime in the United States since 1872.