Nigerian Money Scam

The Nigerian Money Scam aka Advance fee fraud, is one of the oldest internet scams in the book. It’s been around practically since the birth of the internet.
How it Works

Victims are contacted via email with an offer from a “wealthy” individual. This person claims that they have millions of dollars worth of cash or gold tied up either because of an inheritance or for some other reason. They tell the victim that these funds would have to be moved discreetly abroad in order to be claimed and that they would have to transfer the funds to the victims account in order to clear. Before any funds can be moved however there are certain fees that must be paid to supposed lawyers and accountants. These advanced fees cost literally tens of thousands of dollars. The victims are promised reimbursement for these fees in addition to a large percentage of the funds that will be transferred to their account, sometimes as high as 40%!

Reality Check

The promised money that must be transferred of course never happens and the money or gold obviously doesn’t exist either. The fees that the victim had to pay go directly into the scammers pocket and many times the victims are buried in debt because of the advanced fee.