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Collier, Paul A

Advance Fee Fraud and Banks - 10p

An advance fee refers to an upfront payment by the victim to the fraudster, to allow the victim to take part in a much larger financial transaction which he believes will either bring him a profit or will result in credit being extended to him. This larger financial transaction is always bogus and the victim never makes a profit nor does he receive the loan.


Fraud, Trade, Advance-fee fraud