Nigerian money transfer fraud

The Nigerian money transfer fraud, also known as the Nigeria scam or the 419 fraud after the relevant section of the Nigerian criminal code, is a fraudulent scheme to extract money from investors living in rich countries in Europe or in the US. The confidence tricks originate in Nigeria, have been ongoing since at least 1989, and are carried out through the mail, fax and increasingly through E-mail. Originally, the schemers contacted mainly heads of companies and church officials, but now increasingly private citizens are targeted as well.

The investors are contacted, typically with an offer of the type "a rich person in Nigeria needs to discreetly move money abroad, would it be possible to use your account?" The sums involved are usually in the millions of dollars, and the investor is promised a sizeable percentage. The proposed deal is often presented as a (harmless) white-collar crime, in order to dissuade participants to later contact the authorities. The operation is professionally organized in Nigeria, with offices, working fax numbers, and often contacts at government offices. The investor who attempts to research the background of the offer will usually find that all pieces fit perfectly together. If they then agree to the deal, the other side will first send several documents bearing official government stamps, seals etc., and then introduce delays, such as "in order to transmit the money, we need to bribe a bank official. Could you help us with a loan?" or "In order for you to be allowed to be a party to the transaction, you need to have holdings at a Nigerian bank of $100,000 or more" or similar. More delays and more additional costs are added, always keeping the promise of an imminent large transfer alive. Sometimes psychological pressure is added by claiming that the Nigerian side, in order to pay certain fees, had to sell all belongings and borrow money on their house. Sometimes, victims are invited to Nigeria and get to meet real or fake government officials, or are held for ransom. The actual money transfer never happens.

A newer version of the scam offers to buy some expensive item by cashier's check[?], and asks the recipient to wire transport costs to some third party as soon as the check clears. The check typically clears after one or two days, but the fact that it is counterfeit isn't detected until several days later, when the transport costs are already lost.

Some investors have hired private investigators in Nigeria or have personally travelled to Nigeria, without ever retrieving their money. One American was murdered in Nigeria while pursuing his lost money. Since 1995, the United States Secret Service has been involved in combatting these schemes.

A typical email message which attempts to attract victims follows:

From: "BIBI LUCKY" <bibialora1@yahoo.com>
Subject: can you?
Date: Thu, 28 Mar 2002 15:03:44 +0100
To: axel@uni-paderborn.de
Reply-To: bibialora1@yahoo.com

Dear Sir,

ASSISTANCE REQUIRED FOR ACQUISITION OF ESTATE

I write to inform you of my desire to acquire estates
or landed properties in your country on behalf of the
Director of Contracts and Finance Allocations of the
Federal Ministry of Works and Housing in Nigeria.

Considering his very strategic and influential
position, he would want the transaction to be as
strictly confidential as possible. He further wants
his identity to remain undisclosed at least for now,
untill the completion of the transaction. Hence our
desire to have an overseas agent.

I have therefore been directed to inquire if you would
agree to act as our overseas agent in order to
actualize this transaction.

The deal, in brief, is that the funds with which we
intend to carry out our proposed investments in your
country is presently in a coded account at the
Nigerian Apex Bank (i.e. the Central Bank of Nigeria)
and we need your assistance to transfer the funds to
your country in a convenient bank account that will be
provided by you before we can put the funds into use in 
your country. For this, you shall be
considered to have executed a contract for the Federal
Ministry of Works and Housing in Nigeria for which
payment should be effected to you by the Ministry, The
contract sum of which shall run into US$26.4 Million, 
of which your share shall be 30% if you agree to be
our overseas agent.

As soon as payment is effected, and the amount
mentioned above is successfully transferred into your
account, we intend to use our own share in acquiring
some estates abroad. For this too you shall also serve
as our agent.

In the light of this, I would like you to forward to
me the following information:

1. Your company name and address if any
2. Your personal fax number
3. Your personal telephone number for easy
communication.

You are requested to communicate your acceptance of
this proposal through my above stated email address
after which we shall discuss in details the modalities
for seeing this transaction through.

Your quick response will be highly appreciated. Thank
you in anticipation of your cooperation.

Yours faithfully,
BIBI LUCKY.

External links:

http://home.rica.net/alphae/419coal/
Scamorama presents The Lads From Lagos (http://www.scamorama.com)
How to become rich dotcom (http://home.arcor.de/ktdykes/wafrica.htm)

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Licence of article: GNU FDL.
Original source @ wikipedia.