This is a situation where individuals or organizations claim public funds that they are not entitled to.
Report to:
1. Independent Corruption Practices and other related offences Commission
2. Nigeria Police Force
3. Economic and Financial Crimes Commission
108
PYRAMID SCHEME FRAUD
This is a scheme whereby persons are asked to contribute financial resources to an investment. The person is asked to bring other persons who in turn bring persons to invest until the chain breaks.
Report to:
1. Economic and Financial Crimes Commission
2. Nigeria Police Force
109
RECEIPT FRAUD
This is theft or bribery. This happens when an employee steals income from the company, or when the employee alters the record of the amount owed by a customer to the company for cash rewards.
Report to:
1. Nigeria Police Force
110
RENTAL FRAUD
This is obtaining by false pretense. This happens where a would-be tenant is asked to pay an upfront fee for the property the person intends to let not knowing that the property doesn’t exist or has been let out.
Report to:
1. Nigeria Police Force
2. Economic and Financial Crimes Commission
110
SCHOLARSHIP SCAM
Fraudster takes advantage of students that intend to study abroad. They pose as genuine organizations that want to help students study aboard and also claim that they either offer scholarship or help students obtain a scholarship. The potential victims are asked to pay some money to help process the application.
Report to:
1. Nigeria Police Force
110
SHELL COMPANY
This happens when fraudsters set up a non-active company for a fraudulent activity like money laundering. A company that at the time of incorporation does not have noteworthy assets or operations. Also called Shelf company.
