A reminder to, while in search of that on-line frugal deal of a lifetime, beware of pesky scammers. I just received this latest “business proposal” (in blue below) today. I can make a quick $2 million with this one.

“E-mail continues to be the preferred method to initiate on-line fraud,” States the IBD News. “It accounted for 35.7% of all fraud claims last year.” Instant text messaging accounts for 11.5%. The rest involves various on-line activities such as identity theft, nondelivery of goods, and auction fraud. In 2007, the Internet Crime Complaint Center (IC3) received 206,884 complaints. This compares to 2006 (207,492), 2005 (231,493), and 2004 (207,449).

Other statistics:

• Over 50% of the complaints were for less than $1000 dollars. 31% lost between $1000 and $5000.
• Counting by country, the United States had the most cybercriminals, with 63.2%, followed by the United Kingdom (15.3%) and Nigeria (5.7%).

If you’d like to file a fraud complaint, you can do it at the IC3 website. But the best thing to do is avoid becoming a victim. Here are some on-line fraud prevention tips-

• Know who you are doing business with. Someone shouldn’t mind you checking up on them if they are legitimate.
• Don’t use your credit card on unsecured websites.
• If an opportunity appears too good to be true, it most likely is (see letter below).
• Be extra cautious when dealing with someone outside your own country.
• Be suspicious of any unsolicited requests for personal information.

Here’s the letter. According to IC3, it’s a common one. I must admit, I find it hard to believe anyone would actually fall for something as outrageous as this. But I’m sure there are less obvious scams, that are harder to catch on to until it is too late.

Fbn merchant Bank Building

Plot 1662 Oyin Jolayemi Street, P.M.B. 2023

Victoria Island, Lagos Nigeria

TEL: 234 1 8759890

FAX: 234 1 5559361.

DATE: 04-04-08

From the desk of:

Dr. Issa Mayaki (director)
Accounts and Audit Department

Hello my friend,

I am the head of Accounts and Audit Department of FBN Merchant Bank Plc. I decided to contact you after a careful thought that you may be capable of handling this business transaction which I explained below;

In my department we discovered an abandoned sum of Six million, five hundred thousand u.s. dollars ($6,500 000.00) in a dormicilary account that belongs to one of our Foreign investor (late Mr. Dasne Minnelli) who died along with his entire family in 2002 in a plane crash. Since we got information about his death, we have been expecting his next of kin to come over and claim his money because we cannot release it unless somebody applies for it as next of kin Or relation to the deceased as indicated in our banking guidelines.

But unfortunately, we learnt from our record here that his supposed next of kin, his son and wife died alongside with him in the plane crash leaving nobody behind for the claim. It is therefore upon this discovery that I and other director who knew about it in my department now decided to make this business proposal to you and release the money to you as the next of kin to (late Mr. Dasne Minnelli). We want to present you to our Bank Foreign Credit Controller as his Family member and business associate, so that the proceeds of this Contract Payment Fund will be paid to you as the next of kin to our late Foreign Contractor since you are a foreigner And more-over nobody is coming for it and we don’t want this money to go into the Bank treasury as unclaimed Bill.

The Banking law and guideline here stipulates that if such money remained Un-claimed after six years, the money will be reverted into the Bank treasury as unclaimed floating fund. The request of you to stand as a foreigner and next of kin in this business is occasioned by the fact that our investor/contractor was a foreigner and a Nigerian cannot stand as next of kin to a foreigner .

We agree that 35% of this money will be for you as our foreign partner, in respect to your provision of a foreign account where this money will be transfered, 5% will be set aside for expenses incurred during the business and 60% would be for me and my colleague. Thereafter the successful transfer, I and my colleague shall visit your country for the disbursement according to the percentages indicated.

Therefore to enable the immediate transfer of this fund to your account as arranged, You must apply first to the Bank as next of kin to the deceased foreign contractor. Though upon receipt of your reply, I will send to you by fax or email the text of the application letter which you will send to our Foreign Credit Control Department for the claim over this fund valued ($6,500 000.00).

Finally I will not fail to bring to your notice that this transaction is hitch-free and that you should not entertain any atom of fear as all required arrangements have been made for the transfer.

I expect you to call me on my direct number +234 1 8759890 for more details immediately you receive this letter, Or quickly reply me via e-mail.

Hoping to hear from you immediately.

Yours faithfully,

Dr. Issa Mayaki (director)
Accounts & Audit Department,
FBN Merchank Bank Plc

Nb. Endeavour to give me your Direct Telephone for easy communication with you.

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