Advance Fee Fraud


Advance fee fraud is an investment scheme that asks investors to pay in advance of receiving any proceeds, stock, or warrants for a deal to be finalized. This fraud scheme is often described as a tax, fee, commission, or incidental expense that will be repaid at a later date.

One example of advance fee fraud is when investors of underperforming securities are offered the opportunity to sell the securities if an advance fee is paid. Scammers will often make the transaction appear legitimate by directing investors to wire advance fees to escrow agents or lawyers. Be cautious of any investment deal that sounds too good to be true.

If you find yourself the victim of an advance fee fraud scheme, take the following action steps:

  • Contact your financial institution and ask them to stop the transaction.
  • Report the incident to the Federal Trade Commission at ReportFraud.ftc.gov
  • Reach out to an expert, including a legitimate financial advisor and local law enforcement.

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