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affinity fraud
[ uh-fin-i-tee frawd ]
noun
- a fraudulent investment scheme in which a swindler preys upon members of an identifiable group, as a religious or ethnic group, often by claiming to be a member of the group and promising fellow group members special access, profit, or other benefits.
Word History and Origins
Origin of affinity fraud1
Example Sentences
It's not illegal, but it uses the same principle as affinity fraud: Pressuring their audiences to prove their conservative bona fides by buying more tickets, often exponentially more tickets, than they are actually going to use.
It's a form of affinity fraud, which is where a con artist will exploit a shared identity with their victim — such as religious affiliation — to gain their trust, before shaking them down for cash.
Affinity fraud refers to a preexisting group connection between people that can allow scams to happen.
This type of scamming is called affinity fraud.
The agency accuses Betancourt of committing securities violations in a scheme that authorities describe as “affinity fraud.”
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