Meaning of “advance fee scheme” in the English Dictionary


"advance fee scheme" in Business English

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advance fee schemenoun [ C ]

uk us also advance fee fraud COMMERCE

a dishonest business activity in which companies take money from customers as part of the payment for a loan, investment, etc. but never lend them the money, make the investment for them, etc.

(Definition of “advance fee scheme” from the Cambridge Business English Dictionary © Cambridge University Press)