UK Fraud Act 2006 – Section 5 “Gain” and “loss”

By 8 March 2019FRAUD2006
Gain-and-loss

UK Fraud Act 2006 - Section 5 “Gain” and “loss”

Published on 8th March 2019
Joseph-S-R-de-Saram

Joseph S R de Saram (JSRDS)

Information Security Architect / Intelligence Analyst / Computer Scientist / Human Rights Activist / COMSEC / SIGINT / TSCM
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The Fraud 2006 Act gives a statutory definition of the criminal offence of fraud, defining it in three classes – fraud by false representation, fraud by failing to disclose information, and fraud by abuse of position. It provides that a person found guilty of fraud was liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to ten years on conviction on indictment.

UK Fraud Act 2006 – Section 5 “Gain” and “loss”

(1) The references to gain and loss in sections 2 to 4 are to be read in accordance with this section.

(2) “Gain” and “loss”—

          (a) extend only to gain or loss in money or other property;

          (b) include any such gain or loss whether temporary or permanent;

and “property” means any property whether real or personal (including things in action and other intangible property).

(3) Gain” includes a gain by keeping what one has, as well as a gain by getting what one does not have.

(4) Loss” includes a loss by not getting what one might get, as well as a loss by parting with what one has.

Fraud Act 2006 - Section 5

Changes to legislation: There are currently no known outstanding effects for the Fraud Act 2006....

Edward de Saram has truly run out of options…

Joseph-S-R-de-Saram

Joseph S R de Saram (JSRDS)

Information Security Architect / Intelligence Analyst / Computer Scientist / Human Rights Activist / COMSEC / SIGINT / TSCM
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