419 Advance Fee Scams
There are a number of government scams, some of them still undergoing trials and others successfully operating behind the scenes. But, one of the worst government scams detailed on the FTC (Federal Trade Commission) web site is the “Nigerian Letter” Scam.
The scam can be in the form of an e-mail or a letter in the mail asking for help in moving money out of a country involved in turmoil or a civil war. If the recipient permits to share his bank account information, he will get to share in the funds moved out of the country.
Despite many warnings, the Nigerian Advance Fee Scam has been around for quite a while and continues to draw in several victims. It is estimated that the advance fee fraud grosses hundreds of millions of dollars annually and the losses are continuing to escalate. This global scam is generally targeted towards small and medium sized businesses as well as charities. The scam basically involves the receipt of an unsolicited letter purporting to come from someone claiming to work for the Nigerian Central Bank or the Nigerian Government. The goal of the scam is to particularly delude the victim into thinking that he/she has been singled out to participate in this very lucrative yet questionable arrangement.
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03-14-2008, 07:07 AM
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