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affinity fraud

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Financial Dictionary

affinity fraud

Investment scams that target members of identifiable groups, including elderly, ethnic, professional, and religious groups. Perpetrators of affinity fraud are often either members of the targeted group or individuals who enlist the assistance of leaders in order to exploit the trust of members of the group. See also pyramid.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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