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19 November 2010

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Fraudsters Look for New Swindles

 

The Nigerian 419 scam and other online rip-offs

 

The fraud artists never rest. They are constantly dreaming up new ways to empty the wallets of the gullible.

 

For very little money scammers can make their e-mail pitches to millions of people. The so-called “419 swindle” is named after a section of the Nigerian Criminal Code; it’s also known as the “advance fee scam.”

 

The 419 Coalition website describes the swindle and its many forms.

 

An email arrives from someone representing themselves as a government official, usually from an African country. The scammer says he or she has millions of dollars that have been come by outside the watchful eyes of the law. They need a trustworthy individual to help them get the money out of the country.

 

Said trustworthy person will get a substantial cut of the treasure, but first they have to put up some money to cover paperwork costs, or to bribe officials, or to show good faith.

 

There are hundreds of variations, but they all carry the same promise – put up a few thousand dollars now in return for millions later. Sadly, the trustworthy person never sees a penny of the stolen fortune.

 

New Swindle Victims Found Daily

The con is very old, very well known, but, amazingly, it still finds targets who get stung. John Rempel of Leamington, Ontario is one victim.

 

His sad story was reported by Trevor Wilhelm in The Windsor Star on January 14, 2009. In Rempel’s case the rip-off involved a phony inheritance. The newspaper says the 22-year-old Rempel “…borrowed $55,000 from an uncle in Mexico and his parents gave him $60,000 on credit to cover fees for transferring $12.8 million into his name.” In total, Rempel lost $150,000.

 

Many More Scams

Fraud Squad TV is a show that exposes the wide assortment of frauds. It has a library listing more than 60 different ways that cheaters aim to prosper.

 

The adoption fraud targets couples wanting to give a home to a baby. There are several websites where prospective parents can leave postings hoping to attract the attention of a pregnant woman who wants to give up her child for adoption. Sometimes, a scammer will contact the couple by e-mail and ask for money to help her pay her bills while she’s pregnant.

 

Others try to sell sports memorabilia, such as signed baseballs, that are forgeries. Counterfeit university degrees can be bought for a price and used to fool employers into making a hiring decision.

 

And, phony charities are set up with similar logos to legitimate ones to take donations from the kindhearted.

 

Protection against Swindlers

The old rule that “If it looks too good to be true, it probably is” still holds true. Legitimate charity workers have proper identification and are happy to show it.

 

Never, never, never give out personal financial details over the Internet and do not send money to strangers. If at all unsure, check with the RCMP’s Phonebusters.com or local police.

 

 

Source

“Leamington Man Loses $150,000 in Nigerian Scam.” Trevor Wilhelm, Windsor Star, January 14, 2009.

 

© Canada and the World, June 2010

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In a 1939 movie, W.C. Fields plays a shady swindler who is just one step ahead of the law. A Fields line from the film has since been repeated many times: “You can’t cheat an honest man; never give a sucker an even break...” The line gave the movie its title.