Types of Fraud Page 2 of 27

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ANTI-COMPETITIVE BEHAVIOUR
APPLICATION FRAUD
ASSET MISAPPROPRIATION FRAUD
AUCTION FRAUD
BANK ACCOUNT FRAUD
BANK CARD AND CHEQUE FRAUD

S/N TYPES OF FRAUD DESCRIPTION RECOMMENDED RESPONSE
6 ANTI-COMPETITIVE BEHAVIOUR When business owners fraudulently engage in unfair methods of competition to prevent and restrict competition. Report to:
1. Federal Ministry Of Industry Trade and Investment.
2. Nigeria Police Force
3. Independent Corrupt Practices Commission
7 APPLICATION FRAUD When a person impersonates another individual (dead or alive) or uses fake documents and opens an account or makes an application using that information. Report to:
1. Nigeria Police Force
2. Economic and Financial Crimes Commission
3. Independent Corrupt Practices Commission
8 ASSET MISAPPROPRIATION FRAUD An individual in a specific position breaches his fiduciary duty by using such position to acquire certain assets. Report to:
1. Economic and Financial Crimes Commission
2. Independent Corrupt Practices Commission
3. Nigeria Police Force
9 AUCTION FRAUD The seller refuses to sell an item on the auction list or after a specific item has been paid for, a different one is sent to the purchaser. Report to:
1. Economic and Financial Crimes Commission
2. Nigeria Communications Commission
3. Nigeria Police Force
10 BANK ACCOUNT FRAUD This is when a transaction that wasn’t made by the owner of the account shows up on his bank statement. This is a form of identity theft, as a fraudster could have gotten the account’s holder personal information and made the transaction. Report to:
1. Financial institution
2. Economic and Financial Crimes Commission
3. Nigeria Police Force
11 BANK CARD AND CHEQUE FRAUD This is when a fraudster steals the account holder’s credit card or cheque book and gains access to the funds in the account. Report to:
1. Financial institution
2. Economic and Financial Crimes Commission
3. Nigeria Police Force

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