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The traditional Nigerian Fraud Letter is often simply an advance fee scam which confirms the old adage, "You can't cheat an honest man!"
These letters (and E-mails and faxes) vary somewhat, but the content is basically the same. The sender--alleging to be a Nigerian banker, government employee, attorney or other professional--somehow has access to several million dollars, which was purposely scammed from the Government of Nigeria. This money, however, must be moved out of the country and thats where the victim comes in, or so the letter claims.
The Nigerian sender--often claiming to be a prince, chief, etc.--states that the victim was highly recommended as a trustworthy person, and asks that the victim provide checking account information so the funds can be transferred to the business (or personal) account, and for this service the victim will be able to retain a percentage of the funds--anywhere from $5 million to $20 million or more.
Ethical and honest business persons readily recognize that even if the offer was legitimate, it would be highly illegal and that they would be participating in a money laundering scheme. Additionally, most business people realize that it is unlikely that they would be provided with a legitimate opportunity to make millions of dollars by simply allowing a transfer of funds to go through their account.
However, some niave and less-than-ethical business people fall for this ancient scam and find their accounts cleaned out. In other cases, the advance fee method is used and the victim sends funds to the letter writer to cover or offset the costs of transfer taxes, airfare or a variety of other spurious costs.
The USPIS reports that some executives who have fallen prey to this scheme were invited to visit Nigeria and meet with their fellow conspirators before finalizing the transfer of funds. During the visit they were introduced to the Nigerian government officials who supposedly could approve transfers of funds. The American visitors were also required to put down a small deposit to show good faith and help defray some of the expenses of their ambitious hosts, including bribes to the proper authorities.
Several victims reported that this shakedown took some menacing turns, causing them concern for their personal safety. One unlucky visitor recalled being confronted by two Nigerians in military fatigues carrying automatic weapons before being admitted to his host's compound. This visitor was strip searched by government security agents and was forced to turn over $4,000 in travelers' checks to his accomplice before receiving permission to leave the county.
For the most gullible, additional demands for money will be made by the Nigerian confidant as long as the American will pay. The biggest rip-off is a "tax" that must be paid before the ultimate payoff, which of course, never materializes. One victim admitted paying more than $400,000 before reporting the fraud to authorities.
The arrogant perpetrators of this scheme know that few victims will step forward to complain for fear of implicating themselves in a fraud being committed on the government of Nigeria. Anyone who has been victimized should contact the Postal Inspection Service, Field Operations Support Center, Memphis, TN 38161-0006, or call 1-800-372-8347. Detailed information, including sample letters, faxes and E-mail can be found on our Web site by clicking on Nigerian Fraud Letter from the home page.
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