Commercial Fraud In Cyprus

What is a commercial fraud?

There is not a single legal definition of commercial fraud, as this concept covers a wide range of areas.

However, it is possible to propose a descriptive definition, outlining the main elements, permitting to detect the possibility of fraud.

What are the key elements that can help identify a commercial fraud?

• Deceit (deliberate actions that can be qualified as criminal conduct)
• Economic dimension;
• The deliberate action results in loss of value for the target;
• The target is deprived without his/her informed consent of assets or of legal rights.

Possible causes of action

• Breach of fiduciary duty;
• Breach of trust;
• Conspiracy;