Advisory to Clients regarding Resurgence of "Nigerian Advance Fraud Scheme"

Many clients will no doubt be familiar with an advanced fee fraud, which has been emanating from Nigeria for a number of years. It has recently come to our attention that the perpetrators of this fraud have been using a fictitious company called Citco Trust and Finance, or variations of that name, purportedly established in Abidjan in the Ivory Coast, or in Nigeria, or in Ghana, as a clearing house for the receipt and payment of fees associated with the fraud.

This fictitious company has no connection whatsoever with the Citco Group. We can only assume that the name Citco is being used in an attempt to give an appearance of legitimacy to the transactions.

If you are approached in relation to the above scheme, please notify a Citco Office.