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Exam CFE - Financial Transactions and Fraud Schemes All Questions

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Exam CFE - Financial Transactions and Fraud Schemes topic 1 question 3 discussion

Geoffrey, a homeowner, has decided to add a patio to the back of his house. Geoffrey hires a contractor who insists on receiving payment up front so that he can pay for the materials required to complete the construction. The following week, Geoffrey is surprised to learn that the contractor has not arrived and is not answering his phone calls. Geoffrey has MOST LIKELY been victimized by which of the following frauds?

  • A. Deposit scheme
  • B. Scavenger scheme
  • C. Block hustle scheme
  • D. Advance-fee scheme
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Suggested Answer: D 🗳️

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sracur
1 month, 2 weeks ago
Selected Answer: D
he is paying for the fee up front so it is an advance fee scheme
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