SECTION 418 IPC - Indian Penal Code - Cheating with knowledge that wrongful loss may ensue to person whose interest offender is bound to protect

Whoever cheats with the knowledge that he is likely thereby to cause wrongful loss to a person whose interest in the transaction to which the cheating relates, he was bound either by law, or by legal contract, to protect, shall be punished with imprisonment of either description for a term which may extend to three years, or with fine, or with both.

IPC 418 in Simple Words

If someone cheats and knows that it will cause harm to someone they were legally obligated to protect in that transaction, they can be punished with imprisonment up to three years, a fine, or both.