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Advanced Fee Fraud aka 419 Fraud |
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A popular type of scam initiated via email is advanced fee fraud scam, which is often dubbed 419 fraud. These scams start when a victim receives an email saying they have inherited/won/are owed a significant amount of money, often in the millions of dollars.
For example, the victim has won a lottery, or some businessman or barrister from an African nation wants to do a “business deal” such as splitting an inheritance of a deceased person with them, if you accept the money into your bank account. Either way, the victim stands to make a great deal of money. First of all however, the scammer will make up a reason why the victim has to pay a small yet significant amount of money to them. The reasons can vary and we’ve seen literally thousands of excuses ranging from courier fees and release bonds to bribes for government officials and new account deposits. It is true that the majority of these scams do originate from Africa making compensation impossible. The term 419 fraud refers to the Nigerian penal code for such crimes - 419. Whatever the reason, the victim is expected to make the payment. Once they do, further demands for payments continue and the victim finds themselves becoming more invested in the scam. For a closer examination of this type of scam, click the ‘Closer Look’ article below and if you have already been scammed by this type of scheme, click here. |
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