A common fraud attempt circulating the Internet is often referred to as the “Nigerian” scam. This is because typically the perpetrator claims to be from Nigeria, or some other foreign country. The email sender will often request an account into which to deposit a large sum of money, promising that you will receive a substantial payment in return. People who respond to the request are instructed to wire funds for “fees.” Once the money is wired, the email sender is never heard from again.
The money is gone, leaving the kind-hearted person who wired it with substantially less cash.
A recent variation of the “Nigerian” scam involves Internet sales or auctions. In this case, the buyer will send a check to the seller for an amount over the purchase price, either with or without the seller’s advance knowledge. The buyer requests that the extra funds be wired.
Sellers who wire the funds soon discover that the check is bad, leaving them without the money they wired.
In most cases, the money wired in these scams is irretrievable.
Please use caution when dealing with people over the Internet. Keep in mind that fraud perpetrators can appear sincere and are often very patient, working with their potential victims for a considerable amount of time in order to build trust. If you have been the victim of fraud, contact your local police department.
Kris King has a strong history of financial industry experience.
He works for Mountain America Credit Union as the Tooele Branch Manager. Kris can be reached at (435) 843- 1220.