Top 10 (Ten) Online Scams Used by Cyber Criminals to Trick You Xorian Infotech | Page 10

Advance fee fraud and Scam
An advance fee scheme occurs when the victim pays money to
someone in anticipation of receiving something of greater value
—such as a loan, contract, investment, or gift—and then
receives little or nothing in return.
The variety of advance fee schemes is limited only by the
imagination of the con artists who offer them. They may
involve the sale of products or services, the offering of
investments, lottery winnings, “found money,” or many other
“opportunities.” Clever con artists will offer to find financing
arrangements for their clients who pay a “finder’s fee” in
advance. They require their clients to sign contracts in which
they agree to pay the fee when they are introduced to the
financing source. Victims often learn that they are ineligible for
financing only after they have paid the “finder” according to the
contract. Such agreements may be legal unless it can be shown
that the “finder” never had the intention or the ability to
provide financing for the victims.