Money for Nothing, Cheques for Free? The Meaning of ‘Financial Advantage’ in Fraud Offences

Alex Steel, University of New South Wales

Article comments

This paper may be cited as: Alex Steel, ‘Money for Nothing, Cheques for Free? The Meaning of “Financial Advantage” in Fraud Offences’ (2007) (31) Melbourne University Law Review 201. This paper may also be referenced as [2007] UNSWLRS 58.

Abstract

This article offers a critique of the current understanding of the phrase ‘financial advantage’ in Australian fraud offences. It begins by considering the history and use of these offences, and ultimately argues that the concept embodied by the phrase is far more complex and uncertain than recent case law suggests. It examines the concept in relation to both the English pecuniary advantage offences and the additional phrase ‘any money or any valuable thing’ in the Crimes Act 1900 (NSW) s 178BA offence, and contrasts it with offences based on the causing of detriment. It is suggested that discussions of defaulting and penniless debtors in relation to the offence are misguided and that financial advantage can only occur when the accused is placed in a better position as a result of the deception, and the advantage obtained is ‘financial’ in nature.