Nigerian 419 Letters
May 7, 2018
As the name says it itself, it all started when some “smart guys” from Nigeria decided to try their “last shot” on getting rich. Just like that, out of nowhere.
They come as well-elaborated offer to use your account for the purpose of getting money out of their respective countries.
What Is Nigeria “419” For
The scam is typically found in Nigeria. It includes the latter asking for a co-operator oversee to help transfer their funds outside of the country, get their inherited money blocked by bank or simply a fund with no specifications, with the promise of a huge percentage of money to an enormous amount.
“419” is named after the Nigerian government law point that prohibits transferring money outside of the country illegally. The same activity that breaks the law, inherits the same name.
What a controversy!
How Does Fraud 419 Work
It is also known as a variation of Advance Fee schemes, where the fraudulent presumes that his money “got stuck” and they need to transfer them to a foreign safer country.
The offer comes in-person, by call or email. The latter tops the list.
A very well explored letter, when most of the times, the author proclaims to be a high-official in Nigeria looking to transfer illegal funds.
The final stages of the scheme include the fraudulent asking for advance fee, whether for bank obligations or transfer charges.
The same request goes on and on, leaving the victim with massive loss of money with no real opportunity to ever get them back. Various reports go as high as to include amounts with 7 numbers amounts.
419 Fraud Worst Scenarios
To most people, receiving a message that demands their credit card and their goods of any kind with the promise to give back enormous amounts of money or huge percentage of million-dollars, it looks like a funny, silly hoax. Not everyone treats it this way though.
There are several cases with reported millions of dollar losses. Unfortunately, it does not stop here. It went as far as to imprisoning of several people by Nigerian government as soon as they stepped in their country, as they were offered money and told to go and get them. That did not end up well obviously, as transfer funds in illegal ways is prohibited by law in most of the country. In Nigeria is prohibited by law ”419 code”.
Related: Learn How To Avoid Scams Online
Who Is Targeted
Everyone is a target and no-one makes exempt. It started in Nigeria but got spread wide in a very short period of time. It is preferred by countries with well-known political issues and struggles. Sierra Leone, Nigeria and Iraq top the black list.
USA, UK, Canada, Australia and several European countries remain as preferred targets.
Ways To Avoid Nigerian Letter
There are several factors you should consider when dealing with this type of scam. The most recommended ones to keep yourself safe are as below.
- Promise – If it is too good to be true, in most of the cases it is.
- Probability – Is there any convincing reason why YOU specifically are chosen to the hundreds of millions of people across the safe countries on the globe.
- Trust – Do not accept by deal to co-operate with anyone who you do not know well or trust
- Security – It is never a good idea to give your personal information and bank account to anyone, much less to an individual you don’t know.
- Search – Make a deep search over the information provided by the source.
- Reality – Let’s make it real. How many legal institutions have asked for your credit card information recently?
- Report – If you sense anything suspicious happening to you or ever did, you know anyone who gets involved or handling any activity of the same nature make sure you report the scam in your local Federal Trade Commission office or report a scam here.
As with most other scams, even the ones through phone, it is highly recommended remaining calm and not leave the emotions of the moment rule. Nigerian fraud does not make exempt and it is very dangerous to fall a prey of it.
Nigerian fraud operates in slightly more “professional” way, by their massive devious ways they work through. Keep in mind the ways to avoid such kind of activity as described above, and you shall be fine. Don’t panic and stay safe!
For anything else you may require or want to know, feel free to contact me through my personal email or simply by leaving a comment below.