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Topic: Newest Scams from Nigeria (Read 246 times) |
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Hound_Dogg
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SECURITY ALERT: LATEST NIGERIAN SCAM
Nigeria has emerged as a country that is home to some of the largest and most well known scams that reach many businesses and individuals. Most of us have received or heard of letters or e-mails from deposed Nigerian officials offering us the opportunity to share in their wealth by pledging just a few thousand dollars. Nigeria now has a thriving Internet-based scam operations, and a new scam is being perpetrated on those who sell items online.
How it works: People have items for sale online. They receive a call from a Nigerian claiming to want to buy the item. The buyer says that he is owed money from someone in the U.S. (usually a few thousand dollars more than the price of the item for sale). The Nigerian asks the seller to deposit the whole check from the 'associate' in the U.S., and then send a check for the difference to Nigeria.
The problem: The check from the 'associate' is counterfeit. The scam takes advantage of a little-known loophole in the U.S. banking system. Many people don't realize that when a bank says funds have cleared, it doesn't mean the check is good. Under federal law, depending on the type of checks deposited, banks must give consumers access to the money within one to five days. Longer holds can be placed on deposits over $5,000, but banks are reluctant to inconvenience their customers. It can take weeks for fake checks to be detected in the banking system, and consumers are then held responsible for the money they've withdrawn because it's the depositor, not the bank, who is responsible if a check turns out to be bad.
What you can do to prevent being victimized by this scam:
- Be wary of with whom you're doing business. No legitimate person or company will offer to pay you by arranging to send you a check and asking you to wire some of the money back.
- You should wait several weeks before drawing on checks from unfamiliar sources.
- Don't assume that this scam is limited to online applications; people have also received counterfeit checks in connection with work-at-home offers.
Scam victims admit they initially were skeptical when the deal was brokered, but after receiving and depositing a cashier's check that cleared, they assumed all was well. The scam has become so widespread that victims formed their own online support group last month. The group now has close to a hundred members.
We hope that you find this information helpful in combating fraud in the workplace and at home.
Jim
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| « Last Edit: Dec 20th, 2002, 6:37am by Hound_Dogg » |
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BobG
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Re: Newest Scams from Nigeria
« Reply #1 on: Dec 20th, 2002, 6:51am » |
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If it sounds too good to be true...........
It probably is.
If you ever get an email offer that makes you say to yourself "Damn, that sounds like a good deal."
DELETE IT!
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Stay stressed. Never relax. Never sleep. Ever.
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