Concept information
Preferred term
Major Fraud Act
Definition
- The Major Fraud Act of 1988 (18 U.S.C. § 1031), subsequently amended by the Major Fraud Act Amendments of 1989, was legislated to protect the United States against major fraud, which by definition is an intentional act that involves making a false representation of a matter of fact, whether by words or by conduct, by false or misleading allegations, or by concealment of that which should have been disclosed. The act, promulgated in response to increased incidences of major fraud against the United States, established major procurement fraud as a criminal act and was legislated to complement procurement fraud through the False Claims Amendments Act of 1986 and the Program Fraud Civil Remedies Act. [Source: Encyclopedia of White-Collar and Corporate Crime; Major Fraud Act]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/Major_Fraud_Act
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