NIGERIAN FRAUD LETTER SCAM

CONSUMER TIPS

Latest Update 11/02/2001

COST OF LIVING INCREASE?  BIGGER PROMISES

Until recently, the amount of the alleged "over-invoiced" funds held in a "suspense" account at Nigeria's "Apex" bank have tended to run around $20 - $30 million, with the victim being promised about 20 - 40%.

Current versions have been updated and, perhaps, adjusted for inflation.  Now, typically the low end of the proposed transfer of funds is around $40 million.  As with older versions, this is seldom a round figure, but more commonly something like "$47,500,000.00 (forty seven million, five hundred thousand United States dollars).  These folks do love to spell it out and are still as fond as ever of overusing parentheses.

Today the $40 million carrot is at the low end and more typically authors of the newer versions of these letters, faxes and e-mails claim the amount they are proposing to transfer to the victim's account is $60 - $80 million, or more.

Presumably because they assume that too high of a commission might seem suspicious, the newer letters generally promise the victim a lower percentage of the take than in the past, usually between 10 - 20% of this higher amount.