Advance Fee Fraud

Advance fee fraud, also known as the Nigerian Prince scam, is a type of fraudulent scheme where scammers deceive victims into paying a substantial upfront fee or providing personal information under false pretenses. Typically, the scam begins with an unsolicited email or message claiming to be from a wealthy individual, often a Nigerian Prince, who promises a significant sum of money in exchange for the victim’s cooperation. The email may elaborate on a fictional story, such as an inheritance or an investment opportunity, luring the victim with the prospects of substantial financial gain. However, to receive the promised funds, the victim is required to pay various fees, such as transaction costs, legal expenses, or taxes, upfront.

Once the victim has made the initial payment, the scammers continue to demand additional fees, using various excuses to justify their requests and prolong the scam. This cycle typically repeats until the victim becomes suspicious or realizes they have been defrauded, by which time the scammers may have disappeared, leaving the victim with significant financial losses. The Nigerian Prince scam is just one notorious example of advance fee fraud, exploiting individuals’ greed and gullibility to extort money or personal information under false pretexts.