Nigerian or 419 Scam

The Nigerian Scam, also called the 419 scam after the relevant section of the Criminal Code of Nigeria, targets individuals and companies with a fraudulent money-laundering scheme. The contact may come by letter, fax and e-mail from various individuals, including people claiming to be government officials, or a relative of a respected professional such as a doctor, rebel leader, high executive, or an attorney. The communications are usually typed, but often there is no return address and no personal salutation. Most envelopes are hand addressed with an illegible return address.

The text of the offer states that because of political unrest or government restrictions, the sender must transfer millions of dollars out of a Nigerian account into the recipient's personal account, for which the recipient will receive a percentage of the funds. Before processing the transaction, however, the sender requests fees to cover the costs of the transaction, payable by check from the recipient's account. From the information provided on the check, the impostor may steal the victim's identity and empty the personal account.

Another variation on the scam targets business accounts with larger stakes. In addition to the request for bank account information, the letter or e-mail may ask for the following documents and information:

• Company name and address
• A blank copy of the company's letterhead stationary
• The letter or e-mail recipient's full name, telephone and fax number
• A copy of a signed invoice
• The name of the company's bank, bank address and account number

In exchange and gratitude for the above information, the letter claims that within three to four business days, the company will share 20% of the total sum transferred. In addition, the company is warned to keep the request and information contained in the letter "top secret" or confidential. Companies who respond, however, may find their bank accounts emptied, and may even have their corporate identities stolen.

In today's high tech world of e-Business and Internet transactions, the potential to become a victim of the Nigerian scam increases dramatically. To protect yourself or your business, the BBB suggests that you:

• Be alert to official looking mailings that are meant to misrepresent a government agency
• Check the reputation of all offers with the BBB
• Read all of the material carefully and be aware of the conditions of the offer
• Alert employees to be wary of suspicious foreign mailings or communications
• Never provide your company's bank account number to an unknown entity
• Remember, if it sounds too good to be true, it usually is!

For more information contact:

Better Business Bureau
www.bbb.org

Federal Trade Commission
(877) 382-4357
www.ftc.gov

US Secret Service
E- mail 419.fcd@usss.treas.gov
www.ustreas.gov/usss/index.shtml

This information is general in nature and is not intended as a reliability report on any company, product, or service.