Advance Fee Fraud and Banks

Advance Fee Fraud, particularly Prime Bank Instrument Fraud, has become a major business in recent years and has generated very large profits for those who perpetrate it. Despite the corresponding losses it causes for individuals, businesses and banks, it remains a little understood type of fraud both by the business community and law enforcement in general. My objective today is to try to shed a little light on how it works and who it affects - particularly the impact it has on banks. (Read more...)