In this scheme, a company or individual will typically receive an unsolicited letter by mail from a "scammer" claiming to be a senior civil servant.
In the letter, the imposter will inform the recipient that he is seeking a reputable foreign company or individual into whose account he can deposit funds ranging from - million that his government overpaid on some procurement contract.
The letter, while appearing transparent and even ridiculous to most, unfortunately is growing in its effectiveness.
The goal of the criminal is to delude the target into thinking that he is being drawn into a very lucrative, albeit questionable, arrangement.
The intended victim must be reassured and confident of the potential success of the deal.
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 his country.
It is also a misconception that the victim's bank account is requested so the culprit can plunder it -- this is not the primary reason for the account request -- merely a signal they have hooked another victim.
The most prevalent and successful cases of Advance Fee Fraud is the fund transfer scam.
The victim is told that the completed contracts will be submitted for approval to the Central Bank (or any other Commercial or Regional bank) in the country where he is located.
Upon approval, the funds will be remitted to an account supplied by the intended victim.
Recently many individuals and businesses have been fascinated by the Advance Fee Fraud scam that originates from several countries in Africa and particularly from Nigerian, Liberians and Sierra Leonians. In order to prevent yourself from becoming a victim of this scam, please look over the following information: The perpetrators of Advance Fee Fraud (AFF), known internationally as "4-1-9" fraud after the section of the Nigerian penal code which addresses fraud schemes, are often very creative and innovative.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.