What is the difference between civil fraud and accounting fraud?
Civil fraud and accounting fraud are two different types of fraud. Civil fraud is a type of fraud where one or more individuals intend to deceive another person or entity in order to gain some type of advantage or benefit. In New York, this type of fraud is covered by Article 22 of the New York State Penal Law. Examples of civil fraud could include someone falsely claiming to be a licensed professional in order to gain a job or to receive money or property from another person or entity. Accounting fraud, on the other hand, relates to the manipulation of financial records or statements for personal gain or to deceive others. This type of fraud is covered by Article 23 of the New York State Penal Law. Examples of accounting fraud include someone defrauding a company by changing financial records or falsifying documents in order to cover up missing funds. The main difference between civil fraud and accounting fraud is that civil fraud involves deceiving another person or entity for personal gain, while accounting fraud involves financial manipulation. Both types of fraud can result in large fines and possible jail time if found guilty in a court of law.
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