Meaning of "The Three-Party Fraud"
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This refers to a scam in which a fraudster acts as both buyer and seller in a secondhand transaction, deceiving both parties simultaneously to steal goods or money.
"That was a classic three-party scam, so the seller and buyer both gave conflicting accounts, and in the end, everyone just lost money."
Related slang words
Pyramid schemeThey operate a pyramid scheme in which funds from new investors are distributed to existing investors to make it appear as though they are receiving returns, using the difference to sustain the schemeWorking Capital LoanIllegal acts involving the forgery of income verification documents or the use of false information to assist individuals in obtaining loans from financial institutions through fraudulent means, in exchange for a feefigureheadIn situations where a person appears to hold a nominal title or position, but actual operations and decision-making are handled by someone else, the person lending their name assumes legal liability and risk, effectively serving as a “straw boss.”Reading RoomThese are group chat rooms that operate by charging membership fees under the guise of recommending investment opportunities such as stocks and cryptocurrencies, but in reality, they are fraudulent schemes where the operators disappear or spread false or exaggerated information, causing financial losses to users.Master DistributorHe acts as a middleman, managing subordinate groups and recruiting members for illegal gambling and fraud sites in exchange for commissionsRomance scamThis refers to a scam in which the perpetrator pretends to be romantically interested in the victim on social media or other online platforms to gain their trust, and then extorts money under the pretext of settlement fees or living expenses.SextortionThis refers to a crime in which a perpetrator lures a victim into a sexually explicit situation during a video call (webcam call), records and retains the footage, and then extorts money from the victim under the pretext of blackmail or distribution.RollingThis is slang referring to the practice of gambling sites taking a certain percentage of the bet amount as a commission, or to that specific percentage.