What is the difference between private and public fraud?

Public fraud and private fraud refer to different types of illegal activities. Public fraud is illegal activity that affects the public directly and adversely, such as fraud committed against state and federal governments or their citizens or contractors. Examples of public fraud include welfare fraud, Medicare and Medicaid fraud, tax fraud, and embezzlement of public funds. Private fraud, on the other hand, refers to illegal activities that primarily affect private individuals and organizations, such as financial fraud, cybercrimes, and identity theft. Private fraud can be committed by a variety of entities, including other individuals, businesses, and organizations. The main difference between public and private fraud is the type of victim and the nature of the criminal activity. Public fraud typically involves a wide range of victims, such as state and federal governments or their citizens or contractors, whereas private fraud primarily affects individual or private organizations. Public fraud is also typically seen as more serious because it undermines the public trust and typically involves more complex and extensive criminal activity. Private fraud, while still serious, typically involves more localized criminal activity and fewer victims.

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