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This is Marianthi with your weekly issue of Work At Home Business Newsletter. I hope you enjoy this week's article and please feel free to send me any suggestions you may have.

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This week's article - Nigerian Letter Scams

If you are like me, your mailbox is probably being bombarbed by incoming mail. Needless to say some of that mail comes unsolicited.

And of course much of that unsolicited mail comes with an offer which is nor honest or legitimate.

People who do business online eventually get used to knowing that, unfortunately, their e-mail addresses are easy to come by on the Web and so inevitably they will get their share of scam e-mail.

But lately, it seems that I am getting one of those Nigerian Letter Scams almost every other day. I found this really annoying so I decided to educate myself a little more on this type of scam.

According to the BBB (Better Business Bureau) this particular scam is quite old and although it seems quite naive to fall for something like that, it has actually cheated businesses out of millions of dollars. Here's the BBB report :

"The Better Business Bureaus has been warning businesses for several years not to be tempted by fraudulent letters from Nigeria that offer get-rich-quick schemes. The so-called "Nigeria Letter scam" has been around since the early 1990s, scamming businesses nationwide out of millions of dollars. Although small businesses, churches and non-profit organizations have been the primary target, consumers are reporting that these letters are now showing up in their mailboxes at home.

The BBB advises consumers who receive these letters not to provide any personal or banking information to these con artists. The best thing to do is not to respond at all.

How will you be able to tell if the letter you receive is part of the Nigeria letter scam? The letters are usually marked "urgent" or "confidential" from Nigeria via mail or fax. The sender claims to be an official of a company or government ministry, or has an official-sounding name such as doctor, chief, lawyer or prince. Some letters are even written on government stationery.

Although each letter may contain a slightly different appeal, the "official" asks for assistance in transferring millions of dollars of excess money out of Nigeria. The person proposes depositing the money in a trustworthy U.S. bank account, in exchange for which the account holder will receive a percentage of the transferred funds.

To participate you must provide the bank account number and the name, address, phone and fax numbers of your bank. Using the provided information, the con artist can rob the victim's bank account. Or they may try to get money directly by requesting exorbitant payments to cover transfer fees, travel expenses, taxes or necessary bribes before the transaction can occur.

Sometimes the con artist attempts to lure the target to travel to Nigeria! In any case, the con artist disappears with the victim's money and the victim never receives any of the promised funds.

In a related scenario, a business may receive notification that it has been named as a beneficiary in the will of a wealthy Nigerian. The business then is asked to send necessary "proofs of identity" to secure the supposed gift.

Using the provided information, the con artists can then plunder the victim's bank account. Or they may try to get money directly by requesting exorbitant payments to cover transfer fees, travel expenses, taxes, or necessary bribes before the transaction can occur. Once the money has been wired, the scammers typically disappear and are hard to trace.

Needless to say, no one has ever received the promised funds, and losses from participating in illegal foreign business deals are nearly impossible to recover.

The Better Business Bureau advises anyone receiving such a letter not to respond. Instead, send the letter to your local BBB or to the U.S. Secret Service, which is currently investigating the scam. "


So remember, if you receive a letter or email from a Nigerian scammer, don't respond! Consider this as notification that international scams are still strong and if you're on the Internet just hit delete!
 

This week’s motivational message

Winning starts with beginning.

Robert H. Schuller

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