Author Topic: Black Money Scams, All You Need To Know  (Read 18326 times)

Offline Prince

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Black Money Scams, All You Need To Know
« on: March 12, 2008, 07:28:47 PM »
A black money scam is a scam where con artists attempt to steal money from a victim by persuading him that piles of banknote-sized paper in a trunk or a safe is really money which has been dyed black (e.g. to avoid detection by customs). The victim is persuaded to pay for chemicals to wash the "money" with a promise that he will share in the proceeds.The black money scam first appeared around the year 2000. It is yet another variation of what is known as advance fee fraud.

First contact

Typically the scammer will send out thousands, if not millions of e-mails to known and random e-mail addresses, hoping for a few replies. The initial message may read something like this:

I am a lawyer in U.K and I am charged with seeking the rightful heir to certain assets which were deposited many years ago with a security company here in London by a man who died a few years ago.
We have made extensive searches to find any living heirs, but without success. A man with your name is named in the Will and Testament as being the only beneficiary of these assets. We believe that you may be the person entitled and are writing to enquire if you have any dead relatives or friends who may have named you as a beneficiary of these assets in their will and testament. If so please let us have their names and any other information so we can check if you are indeed the beneficiary. The amount of the assets is $150'000, and one large trunk, contents unknown. Please reply soonest since the time period for claims is expiring in the next few weeks and any un-claimed assets will be forfeited to the government. If you are the beneficiary, we will make immediate arrangements to pay the funds to your bank and to ship the sealed trunk to your home.

The victim may reply with details of some dead relatives, and then receives a reply informing him that indeed one of them is the deceased. The beneficiary (victim) is urged to keep quiet about the funds in case other claimants come forward. The victim is asked to complete certain paperwork, or provide proof of identity and bank account details. Certain discussions may take place on the phone between scammer and the victim in which the scammer attempts to obtain information about the victim and the deceased relative, which will be used as needed later to embellish the story and to give credibility to the existence of huge sums of money being hidden in the safety deposit box/trunk. All this is fiction of course, as there is no money, no trunk and the dead person never left any assets in London. But the victim does not know he is being hoodwinked.
 
Advance fees

As the communications between the two parties continue, it will become necessary for certain fees and expenses to be paid, including government taxes, or death duties. In reality, there are no such taxes to be paid. However the need to pay fees or taxes is used as an excuse to make any free funds vanish, and/or to extract funds from the victim.
 
A trunk full of black money

Eventually by various means and devices the victim will be persuaded that the trunk contains a very large amount of cash which had a legitimate, or not so legitimate, reason for all this money to be in cash. Furthermore, the money has all been stained black to avoid detection by customs. A valid reason for this will be given: "The deceased traded in African artifacts and had to pay for some expensive items in cash before he died. To avoid customs problems and theft the money had to be stained black" The victim is assured that the chemical needed for washing the money is also in the trunk.

The victim may have already coughed up some money to pay fees and taxes, and he may now be invited to pay the shipping expenses of the trunk to his home country. Whether paid or not, the trunk will not be shipped and further sums will be demanded on various pretexts, such as taxes, security company fees, money transfer fees, legalization fees, export permissions, etc. The list is endless.

Victim goes to see the money

When at some point the victim is having doubts, or showing reluctance to pay any more, he will be invited to London to inspect the contents of the safety deposit trunk himself. With much ceremony and pomp, the box will be opened to reveal the black paper. The victim will be informed that these are banknotes stained black with an almost unwashable chemical but that a chemical exists which can clean the banknotes.

Washing a small sample of the black money

Then the conman will produce a small vial of the washing liquid and ask the victim to select any black bank note at random. This done, the conman proceeds to wash the banknote in the chemical, performing a sleight of hand, substituting real note which is washed. There will be insufficient liquid to wash any more money, or the conman may simply "knock" the bottle on the floor.

More funds needed to pay for washing chemical fluid

The victim cannot take away the trunk, or any notes, since he is informed that the taxes have not been paid, but once the notes are "washed", it will be easy to pay the taxes and there will be millions left over. The victim is persuaded that he must buy the chemical to wash the notes, and of course the chemical cleaning fluid is "very expensive". Once again the victim parts with money to the fraudster. Sometimes the fraudsters will set up a website purposting to be a seller of the cleaning fluid, which obviously has such a unique and unusual name that it can not be found anywhere else. This adds to the credibility of the story and the victim may even contact the website directly to buy the fluid, allowing the conmen yet another chance to con the victim.

Delay after delay, more fees, no money

The fraudsters will continue to find excuses as to why the victim cannot have his money just yet, but will always promise it after one "last and absolutely final step", which obviously involves the payment of yet another fee by the victim. The scammers will continue to milk the victim until they are sure he has no more money, and that he cannot get any by begging and borrowing from friends or banks, or until the victim realises that he is being scammed, and gets the police involved. Needless to say the fraudsters themselves and the victim's money is usually long gone by the time the police are involved.

Reporting of the crime

Most such frauds are not reported by the victims for several reasons. Firstly they may feel terribly ashamed that they could be so stupid and na?ve. Secondly, many of the scams will involve the victim knowingly agreeing to receive the proceeds of a crime - e.g. he may be informed that it is drug money, tax evasion money, or simply stolen. Sometimes the scammer will have persuaded the victim to incriminate himself, e.g by falsifying a document, or lying on a tax declaration etc. The victim may thus be reluctant to come forward and admit that he was knowingly participating in what he thought was a criminal scheme.

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Black Money Scams, All You Need To Know
« on: March 12, 2008, 07:28:47 PM »

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Offline beibee

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Re: Black Money Scams, All You Need To Know
« Reply #1 on: March 15, 2008, 11:15:21 AM »



thank you for this
fine exposition on scam...

good effort!
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Offline britelife

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Re: Black Money Scams, All You Need To Know
« Reply #2 on: March 23, 2008, 06:31:07 AM »
Despite the fact that it is known, people still fall victim.

It is just the grace of God.

Abi?
**Ma No Rotten, Man No Die.... I still Dey Kampe!!!**

Offline Prince

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Re: Black Money Scams, All You Need To Know
« Reply #3 on: March 23, 2008, 08:14:22 AM »
People know that smoking kills, but still smoke.
« Last Edit: April 12, 2008, 12:52:07 PM by beibee »

Offline britelife

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Re: Black Money Scams, All You Need To Know
« Reply #4 on: March 23, 2008, 09:46:03 AM »
LOL
**Ma No Rotten, Man No Die.... I still Dey Kampe!!!**

Offline judy2

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Re: Black Money Scams, All You Need To Know
« Reply #5 on: April 10, 2008, 10:10:28 AM »
Prince how come you know so much about these scams,just curious oh!

Offline Prince

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Re: Black Money Scams, All You Need To Know
« Reply #6 on: April 12, 2008, 12:35:03 PM »
Prince how come you know so much about these scams,just curious oh!
It's by investigating and reading many reports on them.

Offline beibee

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Re: Black Money Scams, All You Need To Know
« Reply #7 on: April 12, 2008, 12:55:11 PM »


'efiko'...

i've been a victim of one of
these scams...

lost a hundred and sixty thousand naira
to it.

can't blame a pal who introduced it to me;
in fact he was doing it for me...

we all felt bad about it.
he wanted to refund my money

but i said no. he wanted something
good for me; since things didn't work

out well- i wouldn't go asking for his head!
truly i was pained...and it still pains...you know!
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Offline judy2

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Re: Black Money Scams, All You Need To Know
« Reply #8 on: April 12, 2008, 04:39:39 PM »
beibee sorry oh! i have lost some money too
but not much and not to nigerians but online
business,there are some real ones too.Right now
all i want to do is come back home and start my own
business.

Offline judy2

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Re: Black Money Scams, All You Need To Know
« Reply #9 on: April 12, 2008, 04:41:16 PM »
@prince ok,well i know alot about it too
have some people i know that are into that shit.
I wonder why they do it.

Offline Prince

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Re: Black Money Scams, All You Need To Know
« Reply #10 on: April 13, 2008, 12:16:48 PM »
@prince ok,well i know alot about it too
have some people i know that are into that shit.
I wonder why they do it.
They doing it to get fast money with no sweat.

Offline olanajim

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Re: Black Money Scams, All You Need To Know
« Reply #11 on: April 13, 2008, 12:45:54 PM »
Prince,
that is a great write up!
Cycle of frauds. I got lot of such emails but I either send them to the trash or reply in friendly manner. I would in such instance ask the would-be scammer to send the money to the nearest charity home. Recently, I have been ignoring them.

Yes, I know alot about them. But not much. What you wrote above is a new knowledge to me.

Thanks alot.
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Offline beibee

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Re: Black Money Scams, All You Need To Know
« Reply #12 on: April 19, 2008, 12:46:33 PM »

sister judy2:

i wasn't a victim
to nigerian sammers...

it was a scam from abroad
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Offline judy2

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Re: Black Money Scams, All You Need To Know
« Reply #13 on: April 19, 2008, 07:04:59 PM »
@beibee can you share your experience, so that we can all
learn from there.

Offline britelife

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Re: Black Money Scams, All You Need To Know
« Reply #14 on: April 21, 2008, 06:07:29 AM »
@ Topic.

When they where washing the paper, i knew it was scam but something tied me down.

I could not leave.

The only stupid thin i could do was flash my elder brother with the guy's phone without his knowledge.

When i got home and i narrated my experience, those ho pitied me called the so called Patrick and rained abuses on him.

When leaving the scene,  i saw mobile police on parade but i could not say anything.

But sha,

I thank God.
**Ma No Rotten, Man No Die.... I still Dey Kampe!!!**

Offline beibee

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Re: Black Money Scams, All You Need To Know
« Reply #15 on: April 21, 2008, 09:38:01 AM »


it was with this site
called stepstocash...

they claimed to be trading
in e-gold...

to cut a long story short,
invested N165, 000:00-
all my savings then and within

three months my money went
with the winds!
how depressing! i guess i never
really recovered from that loss
financially...
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Offline steveomni

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Re: Black Money Scams, All You Need To Know
« Reply #16 on: April 23, 2008, 09:07:47 PM »
scam is all over(i.e,i invested heavy in some of those wonder banks last year and till date its all storries like check back we are updating,but they claim that the banks are responsible for thier downfall,becos they were giving more interest than the banks

Offline rozmos

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Re: Black Money Scams, All You Need To Know
« Reply #17 on: October 30, 2008, 12:10:03 PM »
it is only a greedy man that fall fool.  why will you want to earn for what you did not labour for.  i do not like free money that i cannot account for.  i do not pity victims because i judge them to be greedy.  thanks to EFCC

Offline Prince

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Re: Black Money Scams, All You Need To Know
« Reply #18 on: October 30, 2008, 09:00:47 PM »
The poor fighting to get out of poverty also fall for it.

Offline ACEMO1

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Re: Black Money Scams, All You Need To Know
« Reply #19 on: January 18, 2010, 01:00:39 AM »
once a victim back in the twilight days
but was more out of curiosity than wealth
A true and sincere spirit of humility




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Offline Twensons

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Re: Black Money Scams, All You Need To Know
« Reply #20 on: June 19, 2015, 12:47:04 PM »
On classifieds site JiJi scam appears on the full moon  :D
Free classifieds hxxp: jiji. ng/

Offline naijareader

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Re: Black Money Scams, All You Need To Know
« Reply #21 on: July 01, 2015, 12:44:34 PM »
Black money politics is very dirty.  i always read in nigeria breaking news.

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Re: Black Money Scams, All You Need To Know
« Reply #22 on: June 27, 2019, 02:56:13 PM »
To make money you need to invest . .  but you need to invest in the right programmes like WEENZEE.  dont wait for cheap money and be scammed.  .  Weenzee is not a scam and i have tried it

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Re: Black Money Scams, All You Need To Know
« Reply #22 on: June 27, 2019, 02:56:13 PM »

 

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