Yup. It's a straightforward consequence of how society has evolved over time. "Wire fraud" specifically means using electronic communication channels to defraud something. Since most business is conducted over electronic communication channels nowadays, it all falls into that category.
IANAL, but I doubt that there's any great alternative that doesn't involve rewriting 100 years' worth of legislation and case law, which generally distinguishes categories of fraud by the medium over which they occur.
IANAL, but I doubt that there's any great alternative that doesn't involve rewriting 100 years' worth of legislation and case law, which generally distinguishes categories of fraud by the medium over which they occur.