Con Artists At Work: The "Nigeria Scam"
by NM Attorney General Patricia Madrid
"The Office of the Attorney General recently received a fax from an individual offering to transfer $22,500,000 to our account.
"All I had to do was provide minimal information, such as a bank name and account number. My office was not the only one to receive this fax, we have been contacted by many people who received it, including the Albuquerque Police Department. This offer is commonly referred to as the Nigerian scam and it is intended to take your money," says Attorney General Patricia Madrid.
There are variations in the scam, but typically an unsolicited letter arrives by mail or fax from an individual claiming to be a senior civil servant with the Finance Department of the Nigerian government. The fax requests assistance in transferring millions of dollars out of Nigeria. In return for this assistance, a percentage of the money is offered. The business is asked to provide their name, address, and phone numbers, as well as their bank's name, address and account number. The letter promises to effect transfer of the funds within ten working days.
Once the business is persuaded that it is in on a very lucrative deal, the con artist claims the transaction is in jeopardy and he needs the victim's money to save it. The money is then taken and the con artist disappears.
Small businesses are the most frequent target of the Nigerian scam, though, churches and non-profit organizations have been targeted as well. It is estimated that the Nigerian scam results in losses worldwide of hundreds of millions of dollars annually. "Don't be fooled by any scheme that promises something for nothing, you will most likely be the one to lose," warns Attorney General Madrid.
Anyone who has lost money in one of these scams should contact the U.S. Secret Service at (202) 435-5490 or send the appropriate documentation to the U.S. Secret Service, Financial Crimes Division, 1800 G Street NW, Washington D.C. 20233.
Patricia Madrid is the Attorney General of New Mexico.
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