Just to make it clear - I am not making any money off of writing this dissertation. It is strictly an academically motivated work required to fulfill the requirements of my MBA degree.

And don't worry, my goal isn't to close loopholes, which I do not consider fraud. Fraud is something intended to deceive or deliberate trickery intended to gain an advantage. Using a loophole isn't deceptive. It is following the rules.

Submitting flight coupons for flights not flown for frequent flyer milage credit and then subsequently refunding the tickets is deceptive as it is against the agreed upon rules. Therefore it is an example of fraud.

I appreciate all of the comments from everyone so far. ^