[ad_1]
The 419 scam, also known as advance fee fraud, is an attempt to steal money by promising extra income if a small amount is paid upfront. It often involves emails claiming to transfer large sums of money or overpaying for items on auction sites. Both individuals and companies are targeted, but new internet users are particularly vulnerable. It is important to ignore any requests for money or banking information. Scams can be reported to internet companies or the Federal Trade Commission.
A 419 scam is an attempt to steal people’s money on the premise that a person will make extra money if they upfront a small amount. The 419 scam derives its name from the Nigerian legal code 419, which is violated by perpetuating this deception. In the 1990s, such scams, especially via email, appeared to come largely from Nigerian criminals. The 419 scam is also called advance fee fraud.
Typically, the 419 scam operates in two different ways. In one case, a person receives an email from a person who claims to have huge amounts of money to transfer to an overseas bank account. They may claim to be from any of several Arab or African countries, although they often claim to live in Nigeria.
Another variation of the 419 scam involves paying more than the cost of an item at an auction site or on sites like Craig’s List. The buyer requests that a certain amount be returned to him. This forwarding typically occurs before the bank realizes that the check has canceled and that the seller is not receiving funds, and has in fact lost funds.
The 419 scam may seem quite realistic. However, if it sounds too good to be true, it usually is. Any letter asking you to transfer money, provide your banking information, or pay upfront for a prize is usually a 419 scam and should be ignored.
Both companies and individuals are subject to 419 scam letters. New Internet users are especially susceptible to what seem like reasonable claims. Often individuals are now more at risk than businesses because it’s cheaper to send bulk emails to individuals. Also, individual users don’t have the same level of security built into their systems as most companies.
Alternatively, you can forward such scams to your Internet company. This could help block the 419 scam in the future. You can also report a 419 scam to the Federal Trade Commission at [email protected]. In fact, the US Federal Trade Commission issued statements specifically requiring notification that one had been targeted by a 419 scam.
