Foreign exchange fraud is any trading scheme involving the exchange of currencies. It may be as simple as getting ripped of on your holiday when you exchange your money into the local currency. More advanced scams include scammers claiming to be a wealthy millionaire or a Prince from a country far away from yours and who tell you that they need to take money out of the country. They want to use your account and of course promise you a very generous transfer fee. However, in order for you to receive that money they will trick you to think that there are taxes, bribes that need to be paid, and that you should pay for that.
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