One of the first cons to flourish on the internet, the “Nigerian prince” scam, also known as the “419” scam (named for the section of Nigeria’s criminal code dealing with fraud), has an ignominious history that long predates the digital age. Its roots go back to a notorious 19th-century swindle called the “Spanish Prisoner,” and the method of attack has progressed from letters and faxes to emails and social media.
What hasn’t changed is the premise: The scammer poses as a person of wealth and position who needs to get a huge sum of money out of their country and urgently requests your assistance, in return for a sizable share of the treasure.
The scam first became ubiquitous online in the 1990s: The supposed benefactor is a Nigerian royal, government official or business executive whose fortune is hostage to war, corruption or political unrest. This desperate personage needs only your bank account number (to transfer the money for safekeeping) or a relatively small advance payment (to cover taxes, bank fees or well-placed bribes) or both. For your trouble, some of their millions will become your millions.
Warning signs
- You get an unsolicited email from someone claiming to be a foreign dignitary or executive promising you a share of a multimillion-dollar fortune in exchange for helping get the money out of the sender’s home country.
- You get an official-looking email or letter from a bank claiming to be holding a foreign bequest made to you, or offering a foreign investment backed by the U.S. government
- You get an email at work that looks as if it’s from a supervisor or vendor urgently requiring money be sent.
- Someone claiming to be a bank or government official approaches you either online or by mail and wants you to send money by wire transfer, international fund transfer, cash-reload card or cryptocurrency.
- Someone promises a huge payoff for your cooperation in a fund-transfer scheme.
How to protect yourself from this scam
- Don’t reply, even out of curiosity, to emails (or any form of communication) from someone representing himself or herself as a foreign government or business official who needs help transferring a large sum of money or says they are holding a bequest for you.
- Never provide personal or financial information to anyone without verifying their identity first.
- Examine email addresses carefully. Look up the business location and phone number yourself; then either call or visit in-person to verify demands or appeals for money.
