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FACILITY TAKEOVER
FALSE ACCOUNTING FRAUD
FIXED LINE FRAUD
FRAUD RECOVERY FRAUD
| S/N |
TYPES OF FRAUD |
DESCRIPTION |
RECOMMENDED RESPONSE |
| 50 |
FACILITY TAKEOVER |
This happens when an individual poses as a genuine account holder or customer and as such gains control of the account and makes an unauthorized transaction. |
Report to:
1. Financial Institution
2. Economic and Financial Crimes Commission |
| 51 |
FALSE ACCOUNTING FRAUD |
This occurs when there is a misrepresentation as to the true nature of a company’s financial state. It is either the company’s assets are overstated or its liability understated to make such company appear financially stronger than it is. |
Report to:
1. Corporate Affairs Commission
2. Financial Reporting Council of Nigeria
3. Nigeria Police Force |
| 52 |
FIXED LINE FRAUD |
This occurs when fraudsters gain access to the switchboard and sell to other people. |
Report to:
1. Nigeria Communication Commission
2. Nigeria Police Force |
| 53 |
FRAUD RECOVERY FRAUD |
A fraudster poses as a legitimate organization or agency that can help a victim of fraud recover what they have lost. The victims are then asked to pay a certain fee to either start the investigation or speed up the recovery process. |
Report to:
1. Economic and Financial Crimes Commission
2. Nigeria Police Force |
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