Nigerian 419 Scam
This scam is one of the oldest and named 419 after the article of the Nigerian Criminal Code dealing with fraud. You receive an email pretending to be a lawyer/official/minister asking for your help to move a large amount of “frozen” money out of a foreign country and offering you a percentage.
They send official-looking documents and may even arrange meetings to convince you it is a real opportunity. Once you have agreed, they will say something has gone wrong. They may say things like “an official demands an up-front bribe or a fee before the money can be transferred”. When you pay the money to unlock the transfer, they will simply give one excuse after another, and then another “problem” comes up where they need some more money etc.
Arranging a transfer
This scam is often based on the premise that some major event or misfortune, such as the overthrow of a government, has resulted in large sums of money being held in a country by a person or persons who are seeking help in transferring the money to another country. A proportion of the money is offered for help in arranging the transfer.
Or, you will receive a letter, fax or email from someone who says they need help in transferring money overseas, usually US$20-30 million. Typically, the writer claims to be a senior government official, an accountant with a state owned corporation, or perhaps a relative of a deposed or dead politician. It will probably be marked ‘Strictly Confidential’ or ‘Urgent’, and offer the opportunity to share in a multi-million pound bonanza.
The writer will tell you he needs to transfer his cash to a bank in your country, and if you let him use your bank account you can keep a big slice for yourself, usually 25 or 30 per cent.
If you reply and give your banking and personal details, you will be sent fake bank statements and similar documents, all intended to prove that the money exists and is heading your way.
It doesn’t, and it isn’t.
This scam has been in operation for some considerable time, suggesting that it continues to be successful for its operators. Although this type of scam frequently originates from parts of Africa, it can have other sources. There is evidence that a similar scam has operated from the USA.
This sort of scam usually arrives by email. If the email is impersonating a known company, you can forward it to the legitimate company to let them know that they are being impersonated. Some email providers also have a phishing or spam reporting function.
If you think you have been a victim of this scam call Consumer Direct for advice on 08456 040506.
There is about this Nigerian scam in our forum.
Fraud Recovery Scams
If you were already a victim of Nigerian fraud, you may be a target for a fraud recovery scam. The scammer contacts the victim claiming that they can recover their lost money, for a price. Another approach is to say the Nigerian government has a fund to compensate victims of 419 scams, and to get their compensation you just need to fill in a form (which usually includes personal information) and send a processing and handling fee. These scams will sometimes impersonate the Nigeria fraud squad, the EFCC (Economic and Financial Crimes Commission) to gain credibility and your trust.
Source: E-victims.org & Consumer Direct
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