Advance Fee Schemes

Have you ever received an email claiming you won the lottery? Or an unrecognizable firm calling in to help you recover lost treasure/stock market investments? All these scenarios are common scams.

Advance Fee Schemes

What Is An Advance Fee Scheme/Fraud?

hey are financial transactions (or opportunities) where you’re required to pay a specific amount to receive a valuable service or product. Most common scams revolve around loans, investments, business contracts, high-value stocks, or gifts. The correspondent requests an advance payment to complete a transaction. They describe it as a commission fee, tax, or security deposit for the alleged service. Victims often assume that the advance payment will be returned at the end of the transaction.

Purpose & Intent

Scammers lure people who are experiencing a financial crisis. Or if someone has recently applied for a loan or financial support. They target individuals who have a higher chance of complying due to their desperate situation. Clever con artists create fake identifies, bogus sites, law firms to create a ruse. They also draft officiallooking contracts and contact information to approach the victim.

Does this sound familiar? File a complaint against fraud to stop these criminals.
Contact FraudTrac for further details.