Scam can be defined as any fraudulent or deceptive act with the intention of obtaining money or valuable items. This can include false advertising, misrepresentation of products or services, Ponzi schemes, phishing, and other similar practices.
Fraud is a type of scam that involves intentional deception for personal gain. It can take many forms, such as insurance fraud, credit card fraud, and identity theft.
Deception is the act of misleading someone by presenting false information or hiding important details. In a scam, the perpetrator may deceive their victim by making false promises or using fake credentials.
Misrepresentation is a form of deception that involves providing misleading information to potential customers in order to persuade them to make a purchase. This can include exaggerating the benefits of a product or service or downplaying its drawbacks.
A Ponzi scheme is a type of investment scam where returns are paid out to earlier investors using funds contributed by new investors. The scheme relies on the continued recruitment of new investors in order to stay afloat.
Phishing is a type of online scam where criminals attempt to obtain sensitive information such as login credentials and credit card numbers by posing as legitimate entities.
