Types of Fraud 15 of 27

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INSTITUTIONAL INVESTMENT FRAUD
INSURANCE BROKER SCAM
INSURANCE FRAUD
INTELLECTUAL PROPERTY FRAUD
INTERNAL FRAUD

S/N TYPES OF FRAUD DESCRIPTION RECOMMENDED RESPONSE
68 INSTITUTIONAL INVESTMENT FRAUD This is done by making institutions make investments through offers that are too good to be true. Report to:
1. Federal Ministry Of Industry Trade and Investment.
2. Nigeria Police Force
3. Economic and Financial Crimes Commission
69 INSURANCE BROKER SCAM When an individual obtains by fraudulently misrepresenting information. The victims later find out that he/she is not insured, or if insured, the cover is not what they requested. Report to:
1. NAICOM
2. Nigeria Police Force
70 INSURANCE FRAUD When an individual obtains from an insurance company by making false claims, for example, claiming to have lost more than what they actually lost. Report to:
1. NAICOM
2. Nigeria Police Force
3. Federal Ministry Of Industry Trade and Investment.
71 INTELLECTUAL PROPERTY FRAUD When an individual or company infringes on the patent right of another company by passing off as original counterfeit goods. Report to:
1. Standard Organization of Nigeria
2. Nigeria Police Force
3. Consumer Protection Council
72 INTERNAL FRAUD When employees of a company commit a breach of trust by committing any type of fraud against the company. Report to:
1. Nigeria Police Force

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