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Affinity fraud occurs when a dishonest person plays on your affiliation with a group - such as a house of worship, social club, support group, charity, or veterans' group - as a way to win your confidence in order to sell you something worthless or trick you into handing over cash.
The scammer may actually be a member of the group or may just pretend to be.
Affinity fraud is one the most difficult scams to protect yourself against because being suspicious of colleagues can undermine the reason you belong to a group.
- Browse Related Terms: Affinity fraud, Earnest Money, ex-dividend, Good faith deposit, Net change, Record date, Settlement date, Tick, Uptick