Category: Advance Fees

Advance Fees fees are payments made upfront for services or products that are promised but often never delivered, and they are commonly associated with various types of fraud. Scammers use advance fees to deceive individuals or businesses by convincing them to pay in advance for loans, investments, or goods with the assurance of future returns or delivery. Once the fee is paid, the fraudsters disappear, leaving the victims with no recourse and no promised service or product. This type of fraud exploits trust and preys on the victim’s desire for quick gains or solutions, making it essential for individuals to verify the legitimacy of offers and be cautious when asked for upfront payments.

Report instances of advance fee fraud online to:

These agencies investigate and take action against fraudulent activities to protect consumers.

FTC-Advance-Fee Loans

Advance Fees Categories

FTC-Advance-Fee Loans

FTC News Release - FTC-Advance-Fee Loans

Advance-Fee Loans

What To Know About Advance-Fee Loans

Some companies promise you a loan or credit card regardless of your credit history. But they want you to pay a “processing” or other fee first. Those are scams. Learn the telltale signs.

Do you need to borrow money to make auto repairs, consolidate credit card debt, or pay your mortgage? In an advance-fee loan scam, scammers promise they’ll get you a loan, credit card, or access to credit. Or they say they’ll put you in touch with a lender who can almost certainly get you those things. No matter your credit history. But first, they say, you must pay up front. The scammer might say the money is a fee for “processing,” “insurance,” an “application,” or something else. But it’s a lie. There is no loan and there is no lender. And if you pay, the scammer and your money will disappear.

Date: Aug. 31, 2024

Accessed: Aug. 31, 2024

Source URL: https://consumer.ftc.gov/articles/what-know-about-advance-fee-loans

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FTC-Advance-Fee-Loans

FTC-Recovery Frauds

Advance Fees Categories Federal News Sources FTC FTC-24 FTC-2409 Recovery Frauds

FTC-Recovery Frauds (Sep. 2, 2024)

Don’t be Re-Victimized by Recovery Frauds

“We can get your money back.”

If you recently lost a portion of your savings or retirement nest egg to a cryptocurrency, forex, or binary options scam, an offer to recover your lost funds may sound very appealing. Unfortunately, for many victims of fraud, the offer may be another scheme that adds insult to injury. 

Recovery scams are a form of advance-fee fraud—when you are asked to pay upfront for the chance of getting a much bigger sum of money later. Recovery frauds target victims already harmed by other frauds.

If you’ve been a recent victim of fraud, be prepared to guard against these follow-on schemes.

FTC News Release - FTC-Recovery Frauds

FTC-Recovery Frauds

Date: Sep. 2, 2024

Accessed: Sep. 2, 2024

Source URL: https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/RecoveryFrauds.html

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FTC-Recovery-Frauds