Abstract
This handbook chapter explains the law of criminal fraud. The central point is that the terms of black-letter law do not sufficiently illuminate the criminal law of fraud, and certainly cannot resolve hard cases. The chapter explains why that is so. It then illustrates a methodology for determining whether deceptive practices are criminal frauds, on the dimensions of both actus reus and mens rea. The argument is descriptive and not, for the most part, normative. On actus reus, the key questions involve the norms and expectations that apply in particular markets. On mens rea, the central inquiry examines an actor’s awareness of the wrongfulness of his conduct.