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I've had a similar problem. Have you tried geolocation exclusion in Adwords? You can also cross reference your web logs (I've done that but it ended up being a very time-consuming process). Honestly it is quite frustrating and disappointing that Google's filters do not tag all of the fraudulent...

Oh dear this sounds familiar...I've also had a close experience to what you are describing. A competitor of mine basically sat on my ads and "clicked me dry". I've wasted thousands of euros on fraud because of him and Google was "kind" enough to tag some of those clicks as invalid but basically...