Nigerian Scam: An Overview
Nigerian scams involve someone from another country offering you a share of a large amount of money or a bribe in return for your assistance in transferring money out of Nigeria or in other words money transfer. These scams began in Nigeria and have since spread throughout the world.
- How does this con work?
The scammer will contact you by email, letter, text message, or social media out of the blue.
The con artist will tell you a long story about huge sums of money being frozen in banks during civil wars or coups, sometimes in countries that are currently in the news and will ask for money transfer services. Alternatively, they may inform you about a large inheritance that is ‘difficult to reach’ in their country due to government restrictions or taxes. The con artist will then give you a large sum of money in exchange for your assistance in moving their personal wealth out of the country through money transfer app. Since the first wave of these scams emerged in Nigeria, they are generally referred to as “Nigerian 419” scams but are a simple case of money transfer online. The ‘419’ in the name refers to a section of the Nigerian Criminal Code that prohibits the activity. Scams today originate from all over the world as most people wonder money transfer near me. Scammers can ask for your bank account information in order to ‘assist them in transferring the money,’ through money transfer sites and then use that information to steal your funds later. Alternatively, they may ask you to pay fees, charges, or taxes to ‘assist in the release or transfer of funds out of the country’ through your bank. These fees could start out as small as a few dollars or send money online. If you pay the scammer, he or she will create new fees that you must pay before receiving your reward using money transfer services online. They will continue to demand more money as long as you are able to give it to them through money transfer companies. You will never receive the funds pledged to you.
- Signs to be aware of
You get a contact unexpectedly requesting that you ‘help’ somebody from another nation move cash out of their nation (for example Nigeria, Sierra Leone or Iraq) and send money through international money transfer if you know how to transfer money from one bank to another. The solicitation incorporates a long and frequently tragic anecdote concerning why the cash can’t be moved by the proprietor. This regularly includes some sort of contention or legacy and they might need to move the cash straight into your record using best way to transfer money internationally. You are offered a monetary prize, like an offer in the sum, for assisting them with getting to their ‘caught’ reserves. The measure of cash to be moved, and the installment that the con artist vows to you in the event that you help, is generally extremely huge transferwise. They will guarantee that a bank, attorney, government office or other association requires a few expenses to be paid before the cash can be moved. The trickster will frequently request that you make installments for the charge through a cash move administration.
- Take precautions.
Never send money to someone you don’t know or trust, or give them your credit card numbers, online account information, or copies of personal documents. Avoid any transaction with a stranger that requires payment in advance via money order, wire transfer, international funds transfer, pre-loaded card, or electronic currency such as Bitcoin if you know how to send money internationally using international money transfer app. Money sent this way is highly difficult to recover. Do not consent to move money on behalf of another person. Money laundering is a serious crime. If you’re unsure, seek independent guidance from someone you know and trust. Verify the identity of the contact by calling the appropriate company directly – identify them via an independent source such as a phone book or an online search if they appear to be from a specific organization. Do not contact the sender using the information contained in the letter.
Check the internet for any references to a scam using the names, contact numbers, or exact wording of the letter/email – many scams can be detected this way. If you believe it’s a scam, don’t respond; scammers can use a personal touch to manipulate your emotions. There are no get-rich-quick schemes, so if anything sounds too good to be true, it actually is.