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Investor.govU.S. Securities and Exchange Commission

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## Main navigation

-  Introduction to Investing    -  Getting Started      -  Five Questions to Ask Before You Invest 
    -  Understanding Fees 
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## Main navigation (glossary)

-  Save and Invest    -  Define Your Goals 
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-  What is Risk? 
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  -  Researching the Federal Securities Laws Through the SEC Website 
  -  The Laws That Govern the Securities Industry 
-  Glossary 

# Advance Fee Fraud

Advance fee frauds ask investors to pay a fee up front – in advance of receiving any proceeds, money, stock, or warrants – in order for the deal to go through.  The advance payment may be described as a fee, tax, commission, or incidental expense that will be repaid later.  Advance fee frauds may involve the sale of products or services, the offering of investments, lottery winnings, found money, or many other so-called opportunities. 

Fraudsters carrying out advance fee schemes may:
                            - Offer common financial instruments such as bank guarantees, old government or corporate bonds, medium or long term notes, stand-by letters of credit, blocked funds programs, “fresh cut” or “seasoned” paper, and proofs of funds;
                            - Offer to find financing arrangements for clients who pay a “finder’s fee” in advance;
                            - Target investors who have already lost money in investment schemes; or
                            - Pose as legitimate U.S. brokers or firms and offer to help investors recover their stock market losses by exchanging worthless stock, but requiring investors to pay an upfront “security deposit” or post an “insurance” or “performance bond.”

*Learn more*.

## Featured Content

Investing Quiz – April 2024
Celebrate financial capability month by testing your knowledge of IRAs, index funds, and more! 

Free Financial Planning Tools
Access savings goal, compound interest, and required minimum distribution calculators and other free financial tools.

Loud Budgeting
What is “loud budgeting” and how can it help you meet your financial goals? Learn more by reading our latest Director’s Take article.

How to Open a Brokerage Account
Read our Investor Bulletin to learn what to expect when opening a brokerage account.

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