Nigerian Scam

In a Nigerian scam, a scammer from abroad offers via mail the target a portion of a sizable quantity of money in exchange for helping them move the money out of his native country to his current place. It is one of the oldest and most prevalent forms of fraud usually performed by Nigerians to scam people.

Nigeria is popular for the outbreak of this scam. It is also known as "Nigerian 419" scams. The number 419 refers to the section of the Nigerian Criminal Code that forbids this activity. Nowadays, this type of scam is not an uncommon practice around the world.

• In Nigerian scams, the scammer from abroad seeks help to transfer a huge sum, and in exchange, the scammer offers a percentage of the huge sum to the target.
• This scam commonly referred to as the "Nigerian 419" scam, is well-known for its origin in Nigeria. The part of the Nigerian Criminal Code that bans this behavior is designated by the number 419.
• The fraudster appears as a wealthy and powerful individual who urgently wants assistance and portrays their story intelligently so that the target perceives it as a genuine case.
• Defending against the scam involves using caution to prevent others from gaining access to your accounts, login information, or private documents.

The Nigerian scam is a serious matter since it fools the common people. Under this scam, criminals contact people via email, letters, text messages, or social media platforms. The content of the mail can range from a congratulatory message on winning a lottery to mail seeking help for various activities. Moreover, few fraudsters even claim to offer employment opportunities in exchange for the help they request.

Scammers will send the target emails or texts to entice them into divulging their personal information. They attempt to obtain the target's Social Security number, account information, or passwords and can access the target's bank, email, and other accounts. Every day, scammers carry out thousands of such phishing scams, many of which are successful.

Victims are convinced of the genuineness of the source (scammers) if they respond to the spam messages and emails sent by the fraudsters. Money is collected by charging overhead charges at different steps from the people. Victims are duped into handing over dollars and dollars to fraudsters. Initially, the scam was conducted via traditional fax and phones and spread over other communication modes.

Protecting from the scam involves using cautiousness not to give strangers access to your accounts, login information, or confidential documents. Do not sign agreements if the stranger requests an upfront payment through money order, wire transfer, foreign funds transfer, etc. It is rare for money sent in this way to be recovered. Never agree to a money transfer on another person's behalf. If unsure, get an unbiased opinion from a trustworthy source. Furthermore, one can familiarize with the pattern of such scams by going through Nigerian scam photos and Nigerian scam documentary.

Let us look at Nigerian scam examples to understand the concept better:

Example #1

John received an unusual email from a stranger from a foreign country. The mail was lengthy, containing an explanation of his heartbreaking story and the political scenario in his native place restricting access to his money. The mail also included a detailed explanation of why he could not transfer and obtain the money. Finally, in the email, he explained the possibility of transferring the funds through John's account and offered John 20% of the money he wanted to transfer.

Example #2

A Nigerian businessman Obinwanne Okeke, also known as Invictus Obi, who previously featured on the cover of Forbes, was sentenced to ten years in prison in the US for participating in a cyber fraud case that ended in the stealing of nearly $11 million (£8 million).

According to a news published on BBC, he scammed individuals in the U.S. by using companies with Nigerian bases. He was a member of a group that conspired to commit numerous computer-based crimes, including building false websites. He also lured his victims with trickery and impersonation. His Invictus Group of Companies was also charged with collaborating with schemers to compile victim profiles. One of their scam acts includes the phishing attempt and illegal use of a manager's email at Unatrac Holding Limited, the export sales office for Caterpillar's heavy industrial and farm equipment. 

• The individual receives an unsolicited email from someone posing as a foreign dignitary or official.
• The fraudster may claim that the transfer is urgent because the government is attempting to freeze their accounts or the funds are held captive by war, corruption, or political upheaval.
• The Nigerian scam email offers a portion of a multimillion-dollar sum in exchange for assisting with transferring the funds out of the sender's native country.

This article has been A Guide to Nigerian Scam and its Definition. We explain its signs, examples, and where to report such scams. You can learn more from the following articles -

• Wire Fraud
• Money Laundering
• Telegraphic Transfer