The
Nigerian Scam has been around for quite some time,
but despite many warnings people continue to get
attracted towards it. What's more - its no longer
based in Nigeria but have proliferated to countries
in Western Africa, South Africa, South East Asia
and even Europe !!
Even more alarming, the advance fee
scam now comes in the disguise of agency agreement,
letter of credit, lucrative order and even fake
bank drafts. Indications are that the fraud grosses
hundreds of millions of dollars annually and the
losses are continuing to escalate.
The modus operandi of the original
scam is to sell ‘financial services’ with millions
of USD from dead ministers, uncles and cousins
(10% is for your efforts). The beginning of the
scam is an e-mail, fax or letter. The target receives
an unsolicited fax, email, or letter from Nigeria
(and these days, other countries) containing either
a money laundering or other illegal proposal or
may even receive a legal and legitimate business
proposal by normal means. Common variations of
the scam include "over invoiced" or "double invoiced"
oil or other supply and service contracts where
the scam operators want to get the overage out
of their country. The variations are very creative
and virtually endless. You will be asked to forward
your bank details and office stationery to the
contact for preparing the legal documents for
money transfer.
For detailed account of how the scam
operates - please see an earlier issue of FAIDA
(Vol 2, Issue 5; June 27' 2001). You will find
all earlier issues of FAIDA here.
The purpose of this article is to
warn exporters of such scam operators who are
out to lure you with lucrative offers / easy money.
In addition to original Nigerian scam of so called
'Financial service' - nowadays it could even be
an export order on d/a, agency offer, diamond
sale, gold ornament import etc. etc. Please exercise
your judgment before making any payment.
These scam artists have perfected
the art of delusion. He may establish the credibility
of his contacts, and thereby his influence, by
arranging a meeting between the victim and "government
officials" in real or fake government offices.
You may be reassured of the authenticity of the
arrangement by forged or false documents bearing
apparently official Nigerian government letterhead,
seals, as well as false letters of credit, payment
schedules and bank drafts.
Some indications
of the scam:
-
An unsolicited mail that tries
to delude you into thinking that you have
been singled out to participate in a very
lucrative arrangement.
-
Big money, running into millions
of US Dollars
-
Easy money - you stand to gain
enormous amount for few easy simple tasks.
-
An element of secrecy
-
An element of rush - transaction
needs to be closed fast.
-
Advance payments on your part
for bribing officials, paying advance tax
or simply agent's fee.
-
An invitation to visit the country
(extremely dangerous - people have lost their
lives by doing so. Please see details in earlier
Faida article).
The good news is that hundreds of
organizations from all around the world have joined
hands to fight this menace. All you need is an
awareness and alertness to successfully fight
these scamsters.
Links to Websites Fighting the Nigerian
Scam
http://home.rica.net/alphae/419coal/fighters.htm
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