Lottery / Prize Fraud

A person can be lured with email/ SMS/ call informing him/her that their name or number was selected in a lucky draw and they can get a huge prize by verifying their details. But for verification, the company would ask for financial details or ask for a payment towards processing fees. Once the person makes the first payment, he/she would be asked for another payment and the cycle goes on till the victim realizes that it’s a trap. It’s considered to be one of the signature Nigerian frauds.