Fraud can be in many forms/types. However, studies revealed that there are some common characteristics of fraud which are as follows:

• Many people are targeted for a little money with the hope they don’t notice, don’t care, or don’t do anything about it
• A trusted relationship is created
• Promise of legitimacy, authenticity
• Another offer or incentive to participate. There may be an effort to create information confusion – that is, attention is distracted from the scam/fraud by other information, issues, or opportunities
• Pressure is applied – often time pressure – e.g., need to hurry and make a quick decision or take quick action or the opportunity will be lost
• Offers exceptional/extraordinary gain with little or no risk
• There is a cap on the maximum level of participation
• Secrecy