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Fraud AlertIf something sounds too good to be true, it probably is. Beware of claims of
high return at "no risk". Generally, the greater the rate of return, the
higher the risk. 1. The foreign money fraud: We have numerous copies
of solicitations which have been faxed or mailed from Nigeria. They claim to give a
participant the opportunity to receive millions of dollars for allowing someone to run
money through his/her checking account. According to the FBI, American citizens have
been defrauded out of millions of dollars with variations of this scam. All of the
solicitations we've seen contain hints that the supposed funds were obtained by unethical
means such as over-billing, or money-"cleaning".
2. Up-front
loan fee scams: These are advertised as though they help people get
consumer loans or credit cards. They are usually fraudulent, especially if they
involve sending or wiring money to an out-of-state location, and almost certainly if they
involve wiring money to an out-of-country location.
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