|
funds have been in a suspense account at the Central Bank of Nigeria. "Our Apex Bank" is a term sometimes used.
If the writer alleges that he is a government official, the letter will inform the target that as a civil servant, he is forbidden to operate a foreign account--that is why outside assistance is needed. If alleging to work in industry, the writer may imply clandestine foreign assistance is needed to get the funds out of the country.
The letter confides that the writer needs a means to move the funds in question overseas and is willing to pay as high as 40% for assistance in transferring the funds into the target's business account. A recent letter targeting businesses in the United States breaks down the proposed disbursement of funds as 15% for the target business, 5% international expenses incidental to the transfer, and 80% for the writer and his associates.
The letter then requests that the target provide its banker's name, telephone, account number and fax numbers. It also requests the target's private telephone and fax numbers "for confidentiality and easy communication." Finally, it requests sample letterhead (often called letter headed paper) and "pro-forma invoice" often specifying that this latter be stamped and signed.
Sometimes an alternative is given and the letter says, "We will furnish you with the text of what to type into your headed paper and proforma - invoice, along with a break down explaining comprehensively what we require of you."
The letter usually ends up stressing the urgency of a rapid reply and indicating that the transaction will approximate 30 working days. The last paragraph of more recent letters sent to targets in the U. S. warns: "For security reason [singular] do not hook up to AT&T (American Telephone & Telegraph) number until you get through."
How the scam works
It's not a sophisticated operation by any standard. National law enforcement officers in the U.S. and throughout Europe as well as Interpol look at it as a crude and amateurish scam. They marvel at how widespread and successful it is.
Upon receiving the requested response from the target company, the Nigerian fraudster can often use the information and letterhead to dip into the company's bank account.
In other cases, they may request advance fees required to cover the confusing alleged costs of transferring money from that country. One justification for advanced funds has been a spurious economic recovery tax allegedly required under Nigerian law to allow a transfer of funds abroad. The 5% "international expenses" mentioned in the recent letter targeting U. S. businesses appears to be telegraphing a future request to share these expenses up front. In other cases, after telephonic communications, the Nigerian requests air fare to the U.S. for necessary personal meetings.
This is the traditional Nigerian Letter and although it's so old it has whiskers, it works well and is the most common version mass-mailed to thousands of U. S. businesses in recent months.
The success of this classic Nigerian Letter can be attributed to greedy victims and validates the old dictum, "You can't cheat an honest man." Since participating in such a scheme would be illegal under U.S. law, often these victims never report their losses to the authorities.
Variations of the Fraud
There are variations of this classic which are geared for more ethical businesses. In some of these cases, genuine-appearing bid specifications for fictitious projects add credibility to the approach.
One deviation has been termed the "Suck and Sting." Here, the Nigerian, perhaps posing as a trader or broker, will make several minor legitimate purchases from a small company paying with valid checks. After sucking the victim into a relationship of trust, a large order comes along, usually showing the end user to be a government ministry or nationalized business. Once the large order been delivered, the Nigerian vanishes without a trace and with the goods.
In some cases, the fraud has gone farther with these apparent legitimate deals, and businesses have sent representatives to Nigeria to finalize what they believe to be a bona fide contract.
A British businessman, L. Martin, was met at the Lagos Airport by uniformed soldiers and a military limo when he traveled there to close a sale to the Nigerian Department of Defense. His
|
|
