Avoiding foreign money scams How foreign money scams work
If you receive an email or letter offering you a large sum of money to help transfer millions of dollars from abroad, it's probably a version of the 419 foreign money transfer scam.
The 419 scam has been around for well over 10 years and is named after after the relevant part of the Nigerian penal code this scam violates.
Police say that although these scams are associated with Nigeria, scammers also operate from other African nations, and from European cities with a large Nigerian population, notably London and Amsterdam.
Foreign money scams explained
This scam often revolves around some major event or misfortune, such as the overthrow of a government, which, it is claimed, has resulted in large sums of money being held in a foreign country.
The scammer claims to need help in transferring the cash to another country. A portion of the money is offered for help in arranging the transfer.
Often you will receive a scam etter, fax or email from someone who says they need help in transferring money overseas, in many cases as much as US$20-30 million.
The exact scenario in the scam email or letter differs but some details remain constant: there is a large sum of money waiting to be paid out; secrecy is an absolute must to protect all concerned; and the writer is willing to share the proceeds, initially only for supplying a foreign bank account number.
Victims of foreign money transfer scams
Victims of foreign money transfer scams have lost thousands of pounds but authorities say true figures are difficult to judge because many people don't report the scam to police.
One of the most prominent victims of the 419 foreign money scam is Joseph Raca, the former mayor of Northampton.
In 2001, Mr Raca received a letter from an 'official' South African government source and was asked for his help to transfer funds out of the country.
Mr Raca was tricked, and engaged in correspondence with the scam artists.
He then flew to Johannesburg to 'complete' the deal, but was kidnapped at the airport. A ransom of £20,000 was demanded from his wife but the police managed to track down the kidnappers and he was released.
