Types of Fraud Page 3 of 27

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BENEFIT FRAUD
BETTING FRAUD
BOGUS TRADESMEN FRAUD
BOILER ROOM/SHARE SALE/HEDGE FUND/BOND FRAUD

2. Nigeria Police Force

S/N TYPES OF FRAUD DESCRIPTION RECOMMENDED RESPONSE
12 BENEFIT FRAUD An individual obtains a benefit of any kind by giving false information. Report to:
1. Financial institution
2. PENCOM
3. Economic and Financial Crimes Commission
4. Nigeria Police Force
13 BETTING FRAUD A person represents himself as one who has inside information on gambling, whereas he doesn’t. Report to:
1. Nigeria Police Force
2. Economic and Financial Crimes Commission
3. National Lottery Commission
14 BOGUS TRADESMEN FRAUD
 
The salesmen put undue pressure and use clever tactics for their customers to purchase goods and services that don’t have value for money. Report to:
1. Federal Ministry Of Industry Trade and Investment.
2. Nigeria Police Force
15 BOILER ROOM/SHARE SALE/HEDGE FUND/BOND FRAUD The fraudster presents himself as a stockbroker and pressurizes the individual to purchase shares promising them that it has high value, when in reality such shares do not exist or if they do, they are worthless. Report to:
1. The Securities and Exchange Commission (SEC)

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