The Nigerian Prince Scam

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The Nigerian Prince Scam


Internet fraud is a type of fraud which makes use of the Internet. This type of fraud varies greatly and appears in many forms. It ranges from Email spam to online scams. Internet fraud can occur even if partly based on the use of internet services and is mostly or completely based on the use of the internet.
An advance-fee scam is a form of fraud and one of the most common types of confidence trick. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster requires in order to obtain the large sum. If a victim makes the payment, the fraudster either invents a series of further fees for the victim or simply disappears. According to the Federal Bureau of Investigation (FBI), "An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value—such as a loan, contract, investment, or gift—and then receives little or nothing in return." [1]
There are many variations of this type of scam, including the 419 scam (also known as the Nigerian Prince scam), the Spanish Prisoner scam, the black money scam, Fifo's Fraud and the Detroit-Buffalo scam.The scam has been used with fax and traditional mail, and is now prevalent in online communications like emails.
While Nigeria is most often the nation referred to in these scams, they originate in other nations as well. In 2006, 61% of internet criminals were traced to locations in the United States, while 16% were traced to the United Kingdom, and 6% to Nigeria.Other nations known to have a high incidence of advance-fee fraud include: Ivory Coast, Togo,South Africa,the Netherlands, and Spain.The number "419" refers to the section of the Nigerian Criminal Code dealing with fraud, the charges and penalties for offenders.




 Nigerian prince wants ur help ….



Example---
An email from a representative of a Nigerian prince who needs to transfer $40 million OR any other certain amount of money obtained from an oil contract but cannot use an African bank account(Nigerian currency) and therefore he needs your assistance. They will want to use your personal bank account, but first, you need to open a Nigerian bank account with at least $100,000 in it to be a qualified foreign recipient of the funds. The prince’s representatives will provide information as to where you will send the money and promise you they will transfer your millions right after. Another example is that you are the winner of a foreign country’s lottery (somehow!) and if you send personal identification information and documents plus a small fee, you will receive your millions of dollars in lottery winnings.


Of course this is not happening but a scam. There are so many other tricky ways to  do the same like they will give you some sort of reward etc with exchange of their personal/financial details.
You may also find some sort of grammar mistake in them but now days the scammers are very cautious about this and they apply some other creativities like click on the link(malicious link) and you will win a apple product etc ,it may be any thing offering mouth-watering opportunities.



The master mindbehind this was a notorious scam


Here it is an video from youtube...


How this scam works ?

The scammer will contact you out of the blue by email, letter, text message or through social media.
The scammer will tell you an elaborate story about large amounts of their money trapped in banks during events such as civil wars or coups, often in countries currently in the news. Or they may tell you about a large inheritance that is 'difficult to access' because of government restrictions or taxes in their country. The scammer will then offer you a large sum of money to help them transfer their personal fortune out of the country.
These scams are often known as 'Nigerian 419' scams because the first wave of them came from Nigeria. The '419' part of the name comes from the section of Nigeria’s Criminal Code which outlaws the practice. These scams now come from anywhere in the world.
Scammers may ask for your bank account details to 'help them transfer the money' and use this information to later steal your funds.
Or they may ask you to pay fees, charges or taxes to 'help release or transfer the money out of the country' through your bank. These fees may even start out as quite small amounts. If paid, the scammer may make up new fees that require payment before you can receive your reward. They will keep asking for more money as long as you are willing to part with it.
You will never be sent the money that was promised.




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