"419" Nigerian Scams
Named for the violation of Section 419 of the Nigerian Criminal Code, the 419 scam
combines the threat of impersonation fraud with a variation of an advance fee scheme
in which a letter, email, or fax is received by the potential victim. The communication
from individuals representing themselves as foreign government officials or persons
in need of assistance, offers the recipient the "opportunity" to share in a percentage
of millions of dollars, soliciting for help in placing large sums of money in overseas
bank accounts. Payment of taxes, bribes to government officials, and legal fees
are often described in great detail with the promise that all expenses will be reimbursed
as soon as the funds are out of the country. The recipient is encouraged to send
information to the author, such as blank letterhead stationery, bank name and account
numbers, and other identifying information using a facsimile number provided in
the letter. The scheme relies on convincing a willing victim to send money to the
author of the letter in several installments of increasing amounts for a variety
of reasons.
The Scam:
You receive an email, fax, or letter usually written in capital letters. The author
of the email says they are looking for someone who will transfer the funds into
their account for a cut of the total--usually around 30 percent. You'll be asked
to travel overseas to meet with them and complete the necessary paperwork.
In reality, there is no money--except for the money you put up in advance. You will
be instructed to pay thousands of dollars in "taxes," "attorney costs," "bribes,"
or other advance fees. You will suffer serious financial loss. Victims who travel
overseas may find themselves physically threatened and not allowed to leave until
they "pay up".
Online Tips:
http://www.fbi.gov/majcases/fraud/fraudschemes.htm
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