Information quoted from the US Secret Service Web Site.
4-1-9 Schemes frequently use the following tactics:
* An individual or company receives a letter or fax from an alleged "official" representing a foreign government or agency.
* An offer is made to transfer millions of dollars in "over invoiced contract" funds into your personal bank account.
* You are encouraged to travel overseas to complete the transaction.
* You are requested to provide blank company letterhead forms, banking account information, telephone/fax numbers.
* You receive numerous documents with official looking stamps, seals and logo testifying to the authenticity of the proposal.
* Eventually you must provide up-front or advance fees for various taxes, attorney fees, transaction fees or bribes.
* Other forms of 4-1-9 schemes include: c.o.d. of goods or services, real estate ventures, purchases of crude oil at reduced prices, beneficiary of a will, recipient of an award and paper currency conversion.
Nigerian Advance Fee Fraud Overview
The perpetrators of Advance Fee Fraud (AFF), known internationally as "4-1-9" fraud after the section of the Nigerian penal code which addresses fraud schemes, are often very creative and innovative.
Unfortunately, there is a perception that no one is prone to enter into such an obviously suspicious relationship. However, a large number of victims are enticed into believing they have been singled out from the masses to share in multi-million dollar windfall profits for doing absolutely nothing. It is also a misconception that the victim's bank account is requested so the culprit can plunder it -- this is not the primary reason for the account request -- merely a signal they have hooked another victim.
* In almost every case there is a sense of urgency.
* The victim is enticed to travel to Nigeria or a border country.
* There are many forged official looking documents.
* Most of the correspondence is handled by fax or through the mail.
* Blank letterheads and invoices are requested from the victim along with the banking particulars.
* Any number of Nigerian fees are requested for processing the transaction with each fee purported to be the last required.
* The confidential nature of the transaction is emphasized.
* There are usually claims of strong ties to Nigerian officials.
* A Nigerian residing in the U.S., London or other foreign venue may claim to be a clearing house bank for the Central Bank of Nigeria.
* Offices in legitimate government buildings appear to have been used by impostors posing as the real occupants or officials.
The most common forms of these fraudulent business proposals fall into the following main categories:
* Disbursement of money from wills
* Contract fraud (C.O.D. of goods or services)
* Purchase of real estate
* Conversion of hard currency
* Transfer of funds from over invoiced contracts
* Sale of crude oil at below market prices
The most prevalent and successful cases of Advance Fee Fraud is the fund transfer scam. In this scheme, a company or individual will typically receive an unsolicited letter by mail from a Nigerian claiming to be a senior civil servant. In the letter, the Nigerian will inform the recipient that he is seeking a reputable foreign company or individual into whose account he can deposit funds ranging from $10-$60 million that the Nigerian government overpaid on some procurement contract.
