It's both. Fraud applies to a wide range of things.

In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual...

The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain.

http://en.wikipedia.org/wiki/Fraud

Types of criminal fraud include:

  bait and switch ...
  *false billing*