[TheForge] LATEST NIGERIAN SCAM

[Bruce Freeman]

I'm forwarding this to theforge in hopes of precluding any of you being =
taken in by this new scam.  I thougth folks would have to be pretty =
gullible to fall for the "I've got millions and need your help banking it =
in the US." scam, but lots of people DID.  This scam is more subtle, and I =
can see anyone falling for it.

This news, by the way, comes via my corporation, and I have no reason to =
think that they're passing urban legends.

Bruce
NJ

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Nigeria has emerged as a country that is home to some of the largest and =
most well known scams that reach many businesses and individuals.  Most of =
us have received or heard of letters or e-mails from deposed "Nigerian =
officials" offering us the opportunity to share in their wealth by =
pledging "just a few" thousand dollars.  Nigeria now has a thriving =
Internet-based scam operations, and a new scam is being perpetrated on =
those who sell items online.

How it works:  People have items for sale online.  They receive a call =
from a Nigerian claiming to want to buy the item.  The buyer says that he =
is owed money from someone in the U.S. (usually a few thousand dollars =
more than the price of the item for sale).  The Nigerian asks the seller =
to deposit the whole check from the 'associate' in the U.S., and then send =
a check for the difference to Nigeria.

The problem:  The check from the 'associate' is counterfeit.  The scam =
takes advantage of a little-known loophole in the U.S. banking system.  =
Many people don't realize that when a bank says funds have cleared, it =
doesn't mean the check is good.  Under federal law, depending on the type =
of checks deposited, banks must give consumers access to the money within =
one to five days.  Longer holds can be placed on deposits over $5,000, but =
banks are reluctant to inconvenience their customers.  It can take weeks =
for fake checks to be detected in the banking system, and consumers are =
then held responsible for the money they've withdrawn because it's the =
depositor, not the bank, who is responsible if a check turns out to be =
bad.

What you can do to prevent being victimized by this scam:
-  Be wary of with whom you're doing business.  No legitimate person or =
company will offer to pay you by arranging to send you a check and asking =
you to wire some of the money back.
-  You should wait several weeks before drawing on checks from unfamiliar =
sources.
-  Don't assume that this scam is limited to online applications; people =
have also received counterfeit checks in connection with work-at-home =
offers.

Scam victims admit they initially were skeptical when the deal was =
brokered, but after receiving and depositing a cashier's check that =
cleared, they assumed all was well.  The scam has become so widespread =
that victims formed their own online support group last month.  The group =
now has close to a hundred members.=20

We hope that you find this information helpful in combating fraud in the =
workplace and at home.