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FOR IMMEDIATE RELEASE: February 23, 2001 CONTACT: Eric Clark, (601) 359-1350 INVESTOR ALERT: An Old Scam Hits the Internet"Nigerian pay-off" e-mail targets public, Clark saysSecretary of State Eric Clark is warning Mississippians about an e-mail scam that promises millions of dollars from Nigerian bank accounts. "We've seen this scam in various forms for years," Clark said. "Now Mississippians are receiving e-mails pitching the same old rip-off. My message is: Don't believe it." The e-mail message comes unsolicited and promises $40 million from Nigerian government officials explaining that "this fund arouse [sic] from the over-invoicing of various contract [sic] awarded in parastatals to certain foreign contractors." Later, the potential victim is encouraged to provide his or her bank account number so that the alleged transfer of money may take place. The email also urges the potential victim "to handle this proposal with strict confidentiality." Instead of doing as promised, the perpetrators of the scam may use the bank information to withdraw money from the victim's account. The victim is also required to pay "up-front money" in the form on fees to receive a future pay-off. The U.S. Secret Service is the primary investigating agency for cases like the Nigerian pay-off scam and other advance fee frauds, Clark said. It is estimated such swindles take in hundreds of millions of dollars annually. Many victims do not report their losses to authorities due to either fear or embarrassment. Advance fee fraud requires the victim to provide up-front or advance fees for various taxes, attorney fees, transaction fees or bribes. Other than the Nigerian example, other types of advance fee fraud include: c.o.d. of goods or services, real estate ventures, purchases of crude oil at reduced prices, beneficiary of a will, or recipient of an award and paper currency conversion. Clark's office has received at least ten complaints questioning whether the Nigerian overture was legitimate. "We want to get the word out quickly before anyone is victimized," Clark said. SECRETARY OF STATE CONTACTS: If you have been victimized by advance fee fraud, please forward appropriate written documentation to the Mississippi Secretary of State's Office, Business Regulation and Enforcement Division, Post Office Box 136, Jackson, MS, 39205-0136, or telephone 800-804-6364. SECRET SERVICE CONTACTS: If you have been victimized by advance fee fraud, please forward appropriate written documentation to the United States Secret Service, Financial Crimes Division, 950 H Street, NW, Washington, D.C. 20001, or telephone (202) 406-5850. If you have received a letter, but have not lost any monies to this scheme, please fax a copy of that letter to (202) 406-5031. ADDITIONAL INFORMATION FROM THE U.S. SECRET SERVICE: From the Secret Service website (www.treas.gov/usss): A large number of victims are enticed into believing they have been singled out from the masses to share in multi-million dollar windfall profits for doing absolutely nothing. Some common elements in the Nigerian advance fee fraud:
Criminals seek out potential victims though mass mailings or e-mails. Initially, the intended victim is instructed to provide company letterheads and pro forma invoicing that will be used to show completion of the contract. One of the reasons is to use the victim's letterhead to forge letters of recommendation to other victim companies and to seek out a travel visa from the American Embassy in Lagos. The victim is told that the completed contracts will be submitted for approval to the Central Bank of Nigeria. Upon approval, the funds will be remitted to an account supplied by the intended victim. The goal of the criminal is to delude the target into thinking that he is being drawn into a very lucrative, albeit questionable, arrangement. When the deal is threatened, the victim will be persuaded to provide a large sum of money to save the venture. Victims are almost always requested to travel to Nigeria or a border country to complete a transaction. Individuals are often told that a visa will not be necessary to enter the country. Nigerian con artists may then bribe airport officials to pass the victims through Immigration and Customs. Because it is a serious offense in Nigeria to enter without a valid visa, the victim's illegal entry may be used by the con artists as leverage to coerce the victims into releasing funds. Other cases may seek licensing fees, registration fees, and various forms of taxes and attorney fees. Invariably, additional payments allow the scheme to be stretched out over many months. In June of 1995, an American was murdered in Lagos, Nigeria, while pursuing an advance fee fraud scam, and numerous other foreign nationals have been reported as missing. TEXT OF E-MAIL CIRCULATING IN MISSISSIPPI: "Federal secretariat complex,Falomo, Lagos-Nigeria Date: 15th February, 2001 Dear Sir, Request for urgent business relationship in respect of the transfer of US$40,000,000.00m. (forty million united states dollars only) into your Account. I, on behalf of my other colleagues from different federal government of Nigeria owned parastatals decided to solicit your assistance as regards the Transfer of the above stated amount into your account. This fund arouse from the over-invoicing of various contract awarded in my parastatals to certain foreign contractors some time ago. We as holders of sensitive positions in our parastatals we are mandated by the federal govenrment of nigeria to scrutnise all payment made to foreign contractors, and we discovered that some of the contracts they executed were grossly over invoiced, either by ommission or commission. Also, we discovered that the sum of (us$40.m) forty million united states dollars only was lying in a suspence account, although the foreign contractor were fully paid their entitlement after executing the said contract. We all agreed that the over-invoiced amount be transferred (for our own use) into a bank account provided by a foreign partner. As the code of conduct of federal civil servants there are laws which restrict us to a certain level of banking facilities which does not allow us the opportunity of operating a domiciliary account (foreign account) which makes it imperative of the need of a foreign partner like you. However, it may interest you to know that we have succeded in transferring some of the monies before precisely (us$5.m) five million united states dollars only into a foreign account in morocco (north africa), but unfortunately the provider of the account has severed all forms of communications with us immediately the funds were disbursed into his account. Out of the us$5.million we were not compensated at all, how can one guaranteed full compensation on remittance of the balance (us$35.million) thirty five million united states dollars only. We therefore seek yourassistance based on the balance amount of us$35.million which can be speedily processed and fully remitted into your norminated account, you will be compensated with 15% of the amount for your assistance and service. This transaction is closely knitted and in view of our sensitive position, we cannot afford any mistakes, I assure you that this transaction is 100% hitch free. We will avail you with our identities as regards our respective offices when relationship is fully established and smooth operation commences. I am at your disposition to entertain any question from you in respect of this transcation, so contact me immediately through my email address for further information on the requirement and procedure. Please note that we have put in many years of meritorious service to our country and therefore would not want our reputation dented, we therefore urge you to handle this proposal with strict confidentiality. Please treat with strict confidentiality and utmost urgency. Best regards Dr. Ishaya Shinkaffi"
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