Question

How is an imposter scheme different from a fictitious payee scheme?

Answer 1

Imposter scheme

In an imposter scam by presenting the culprit as another person you can trust to get financial benefits. Imposter scams target individuals of every age group, casteist, race, and religion. An arrest warrant scam usually involves a phone call from someone pretending to be a local law enforcement officer.

Fictitious payee scheme

The fictitious payee rule is a principle of commercial law that if a drawer or manufacturer issues a commercial letter to a payee that the drawer or manufacturer does not really want to have any interest in the instrument, a forged pass in the name of the payee Would be effective to do.