What is the difference between consumer fraud and corporate fraud?

Consumer fraud and corporate fraud are two distinct types of fraud. Consumer fraud refers to any type of deception or unfair practice employed by a company that negatively impacts a consumer. This could include false advertising, hidden fees, bait and switch tactics, or any other unfair business practice. On the other hand, corporate fraud is the illegal activity of a business or its representatives including bribery, embezzlement, insider trading, and market manipulation. This type of fraud can be perpetrated by individuals, or by companies as a whole. It is typically committed to create unjustifiable economic gain at the expense of another. In Washington, consumer fraud is addressed in the Consumer Protection Act, which was passed to protect consumers from fraudulent acts by businesses. This law protects consumers from false or misleading representation, fraudulent and unfair practices, and predatory actions. It also requires that businesses must display prices, shipping and handling fees, and other information prominently. In contrast, corporate fraud is addressed under the criminal laws of the state. These criminal laws are meant to address fraud committed by businesses and by individuals within or outside the business. It can also involve violations of the securities laws, such as insider trading. In summary, the main difference between consumer fraud and corporate fraud is that consumer fraud is addressed through the Consumer Protection Act in Washington, and corporate fraud is addressed through the criminal laws.

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What is the difference between consumer fraud and corporate fraud?

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