Fraud detection - Illuminating the shadows where deceit meets data

Fraud Deduction - Understanding, Detecting, and Preventing Financial Deception

Fraud deduction typically refers to a practice in accounting where a business or individual claims a deduction for losses incurred due to fraudulent activities. This deduction is usually claimed as an expense on the income statement, reducing the taxable income and, consequently, the tax liability.fraud deduction involves identifying, documenting, and quantifying losses incurred due to fraudulent activities and claiming them as a deductible expense to reduce tax liabilities