Financial fraud refers to deceptive practices aimed at securing an unfair or unlawful financial gain. This can involve various schemes, such as identity theft, where someone uses another person's personal information to access their funds, or investment scams, where fraudsters promise high returns on fake investments. These actions not only harm individuals but can also damage businesses and the economy. Preventing financial fraud requires vigilance and awareness. Individuals should regularly monitor their bank accounts and credit reports for any suspicious activity. Additionally, educating oneself about common fraud tactics, such as phishing emails or fake websites, can help protect against falling victim to these scams.