Fraud is a deliberate act of deception intended to secure an unfair or unlawful gain. It can occur in various forms, such as identity theft, where someone steals another person's personal information to commit crimes, or insurance fraud, where individuals exaggerate or fabricate claims to receive money they are not entitled to. Fraud not only affects individuals but can also harm businesses and the economy. For example, credit card fraud can lead to significant financial losses for both consumers and banks. Recognizing and reporting fraudulent activities is essential to protect oneself and maintain trust in financial systems.