Originally Posted by drbond
Here is the American Dictionary definition:
fraud (frôd)
NOUN:
A deception deliberately practiced in order to secure unfair or unlawful gain.
A piece of trickery; a trick.
One that defrauds; a cheat.
One who assumes a false pose; an impostor.
I'm sorry to the lawyer that thinks "fraud" is only a legal term, it is not. ...
No apology necessary, for I never stated that it is
only a legal term -- just that it
is a legal term. I was specifically responding to these posts:
[QUOTE=psyflyer]
Originally Posted by sany2
...So is it fraud? Whether directly or indirectly fraud is fraud.
I'm no lawyer, but frankly the OPs scheme is certain to be classified as fraud or a derivative thereof. (period)
Originally Posted by freakflyer
Of course its fraud - against bank number 2. They will end up eating the interchange rate (e.g., if the store pays 3% for the card and you charge $1,000 on card 1 but return it to card 2, the supplier is whole but bank 2 will only get back $970 and have to pay you $1,000). Sounds like theft to me. Let alone the cost of the item that you have to return if the seller has to resell it as used.
Both of these posts use the term fraud in its legal sense.