Fraud/frɔːd/ Definition 1 of 3Pro Tip 1/3Criminal Actions Fraud involves illegal actions aimed at getting money or property. He used identity theft as a method of fraud. Pro Tip 2/3Preplanned Deceit Fraud is planned; it's not an accidental or honest mistake. Creating fake websites to steal information is a serious form of fraud. Pro Tip 3/3Trust Violation Fraudulent acts betray the victim's trust and can be emotionally damaging. The trusted accountant’s fraud cost the company millions.