A Look At Some Common Frauds And Scams

US intelligence sources have linked the ubiquitous Internet financial fraud spam emails, known as Advance Fee Fraud 419 (AFF 419) messages, to coded communications by terrorist groups and international organized crime syndicates – Wayne Madsen

Have you received an unsolicited letter from Nigeria, Russia or any other foreign country? Was the letter drafted in such a way as to request for payment of an advance fee under the pretext that such is needed to consummate a business deal? If yes, then you may be at a risk of being fleeced of your hard earned money, for such schemes are now being rampantly perpetrated all over the world.

How are victims approached?

Typically, victims are sent scam emails/letters containing false information on:

• millions of dollars from over invoiced contracts in Nigeria or other foreign countries
• millions of dollars left by a deceased person contracts for the purchase of vehicles,
• computers and accessories, medical equipment, etc, running into millions of dollars.
• the sale of crude Oil

Communication Methods

Who are the victims?

Victims are usually businesses or individuals out to make quick profits with little effort. Such communications normally request particulars of bankers, company embossed stationary and blank company pro forma invoices.

International Fraudster Profile

The international fraudster presents himself as a very important personality with impeccable credentials and parades bogus prefixes such as Doctor, Prince, Engineer, Chief, HRH (His Royal Highness) etc. In some instances, he may lay claims to being an important government official or a representative of government.

What Not To Do

• Do not respond to scam letters either by mail, fax or telephone.
• Do not reveal or give bank account details to anyone (including people claiming to be banking officials from your local bank. Such transactions are better concluded at the bankers’ offices).
• Ensure security of vital documents relating to bank accounts, passports, ID cards, fax/telephone numbers, insurance certificates company letter headed papers, contractual agreements etc.
• Do not agree to any proposed to meeting whether it is to take place in your own country or any other country.
• Do not part with money under any circumstance.
• Do not be convinced by documents that carry the logo/emblem of the Federal Government of Nigeria.
• Do not accept proposals for remittance of funds into your bank account. There is no money to be remitted!
• Do not prolong communication as this may convince you and lure you into a loss of monumental proportions.

Example of a fraudulent mail

—–Original Message—–
From: Engr. Ahmed Usman [mailto:[email protected]]
Sent: Thursday, February 12, 2018 1:11 PM
To:
Subject: HELLO

Dear Sir,

I am making this proposal with the believe that you could be fully trusted to handle this business with the degree of confidence it deserves.

I am Engr. Ahmed Usman an Audit Manager at Pipeline and Products Marketing Company -PPMC (a parastatal under Federal Ministry of Petroleum and Natural Resources).
My colleagues and I in the company need the Services/assistance of a competent, trustworthy and reputable foreigner or company into whose account a large sum of money would be remitted before the Planned deregulation of the Oil sector. This fund originated from deliberate over-estimation of contracts that was awarded by this parastatal to foreign companies for drilling, excavation and spot lifting of Crude oil in Port Novo located in the tiny Republic of Benin.

The need to contact you or your company is predicated on that the contracts were executed by foreign firms, furthermore the money cannot go into indigenous accounts because the Code of Conduct (COC) of the Federal Civil Servants here in Nigeria.Your quick response upon your Expression Of Interest (EOI) will enable me stop further search for a partner. Reply through my email above for further briefing on how to commence this transaction.

Your cooperation would be highly acknowledged thus your response is eagerly awaited.

Yours faithfully

Engr. Ahmed Usman

LATEST EMAIL GOING ROUND

From: [email protected] [mailto:[email protected]]
Sent: Mon 21/02/2018 18:08
To: [email protected]
Subject: Very Urgent business proposal
John Iwuala& Associates.
Solicitors & Advocates.
21-02-2018

Dear Lee,

I know this Letter will come to you as a suprise, though i do not intend to embarrass you. Let me start by Formally introducing myself to you. I am Barrister John Iwuala, a Legal Practitioner and Head of Chambers, of an International accredited Law Firm with offices in Nigeria, South Africa and United states.

I am the Attorney representing Engr.Chris Lee who lost his life in recent Tsunami disaster while on vacation with his family in Thailand at the famous tourist resort Island of Phuket.According to report reaching me, based on an extensive inquiry through Nigeria Embassy in Thailand revealed that non of his family member survived devastating Tsunami disaster.

My deceased client lived most of his lifetime in Nigeria and took here as a home, since according to him he was raised up in an orphanage in his country having been abandoned by his mother. As a consultant to Oil Prospecting Companies in Nigeria, he made fortune for himself and I have been his personal Attorney Spanning for a period of five years.

Now to the brass tack, the deceased took life Insurance Policy which entitles
any Surviving member of his family to a whooping sum of USD5, 00,00,00 in the event of his death. Unfortunately, his wife and children who statutorily are his next of kin are no more and under the existing law here the Surviving relatives of my deceased client becomes the benefactors.

It is because of this development that compelled me to go into an extensive search in the Internet for possible trace of his family Linage but to no avail.

However, since coincidentally both of you share the same last name, I want to seek your consent to present you as a relative to my deceased client by virtue of family linage. As attorney to the deceased the onus of proof to establish your relationship with my client, rest on me and to achieve this objective, there are judicial process involved which I will brief you on subsequent correspondence if you indicate interest.

I am not pursuing this claim for the monetary gain; it is a duty I owe my late client as I intend to use part of the fund to establish a Foundation in his name. Notwithstanding, you will be adequately rewarded for your assistance in this endeavour, as you will receive 30% of the total amt involved.

Expecting to hear from you as soon as possible.

John Iwualaesq.
Principle partner Alternative email <[email protected]>

What To Do If..

• DO NOT REPLY UNDER ANY CIRCUMSTANCES.
• If you receive a scam letter by e-mail, do not reply. KNOW THAT YOU HAVE NOT BEEN TARGETED PERSONALLY – the same scheme has been aimed at different persons.
• Cause them some inconvenience by forwarding a copy of the e-mail to the Internet Service Provider from where the e-mail originated in the following format.
  For example: –
  [email protected] or [email protected] if the email came from [email protected] orabuse@yahoo or [email protected] if the email came from a [email protected] etc.
• If you have have a contact number -please pass the information on to the the relevant law enforcement agents.
• Visit http://www.efccnigeria.org/

Controls

• Always keep you Bank details under lock and key
• Keep records of your cheques and statement of accounts
• The use of different signatures for personal and official business
• Let beware be your watch dog

Monetary losses by victims can range from low thousands into multi-millions. True figures are often impossible to ascertain, because many victims, embarrassed by their naiveté and feeling personally humiliated, do not report the crime to the authorities. Others, having lost so much themselves, become “part of the gang” recruiting more victims from their own country of residence. There are tragic cases of victims being unable to cope with the losses and committing suicide.

On a final note, be warned that these people can use any channel or medium to perpetrate their nefarious schemes. Be cautious when answering calls and receiving emails from unknown persons, and always be guided by the following credo: If it sounds too good to be true, it probably is!

Adewale Banjoko
Principal Fraud Consultant
Tel +447527787195 – ACTIVE
Tel +234 8022227322
Email: [email protected]

Reference: – The Forum of Trust Journal (TUFF UK). Jan2004. Volume 6, Issue