Fraud is a criminal act when one deceives or does a deceitful act to gain or benefit from something or from a situation. An example of this would be illegal transferring of funds (embezzlement) in order to get money from an account.
Corruption is a criminal act wherein one abuses the power he has in order to gain benefit from something or from a situation. An example of this would be a police officer accepting bribery from a powerful government official in order to save him from the negative consequences of being dismissed in office.
