Types of Fraud 17 of 27

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LOAN REPAYMENT FRAUD
LOAN SCAM
LOTTERY SCAM

S/N TYPES OF FRAUD DESCRIPTION RECOMMENDED RESPONSE
77 LOAN REPAYMENT FRAUD Obtaining by false pretense. Here fraudsters pose as genuine existing loan companies and write letters to individuals stating that they owe a particular sum or that they missed the deadline for the payment of a loan owed and should, therefore, pay the initial debt sum and a penalty sum as soon as possible. The victim pays this sum only to find out that he has been deceived. Report to:
1. Economic and Financial Crimes Commission
2. Nigeria Police Force
78 LOAN SCAM When fraudsters obtain from victims by posing to be moneylenders. The victim is told that for him to be given the loan he is requesting for he must pay a particular fee to insure the loan. After he pays the fee, the victim never hears from them. Report to:
1. Financial Institution
2. Economic and Financial Crimes Commission
3. Central Bank of Nigeria
4. Nigeria Police Force
78 LOCAL PURCHASE ORDER (LPO) SCAM The prospective victim is given a fake local purchase order to make supplies to a company. The victim is instructed to make the supplies to a particular warehouse, once the goods are supplied, he/she is asked to come some other day for payment. The payment is never made and the fraudsters never found. Report to:
1. Nigeria Police Force
78 LOCAL TAX FRAUD This is when an individual deliberately gives false information so that the individual would pay less or no tax. Report to:
1. Nigeria Police Force
79 LOTTERY SCAM When fraudsters obtain from their victims by informing the victim that he has won a large sum of money in the lottery, local or international when in reality such doesn’t exist. The victim is usually asked to pay a certain sum to claim his price or asked to give personal information that can be used for the fraudulent purpose. Report to:
1. Nigeria Police Force
2. National Lottery Commission

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