There aren’t many times when I see a story on the evening news I find so compelling I want to report it again. Today, however, I ran across such a story. We often hear the stories about members of other countries being involved in illegal drug trafficking, cartels, and money laundering, but we rarely hear of scams from other countries so intricate that it effects many Americans. People often assume that third world countries are just that, sub par nations. The reality is very different. This perception is what I believe makes Americans even more vulnerable to foreign scams. No one can possibly trick the intelligent Americans out of millions of dollars, especially not anyone in a third world country…right? Who would expect one of the most intricate computer scams to come out of Nigeria, definitely not egotistical Americans.

One computer, one email and an intricate letter has wreaked havoc on many Americans. Here is a breakdown of the scam:

[youtube=http://youtube.com/w/?v=eU9WqhCiQ8g]

The most compelling fact surrounding this scam is people are still falling for it. I think it is important for the public to be informed. In one news spot, they spoke with an American doctor that lost nearly $350,000 to this scam. They spoke with professionals, teachers, and many ordinary people that you wouldn’t believe fell for this hoax. Why did they then? There are two reasons:

1. Greed. Many people are so hungry for money, the reality of winning a “lottery” or gaining an “inheritance” from a relative in a land far off is attractive

2. Perception. I believe many of these individuals assumed if it was coming from Nigeria, it could not be a hoax because they would not be smart enough or have the resources to pull it off. NEWS FLASH: AFRICA IS ONLY THIRD WORLD IN THE EYES OF AMERICANS! It has more natural resources than any other country in the world and is just as technologically sound as other countries. The news media only shows the ravaged parts of the country. (an explanation of this requires a whole blog entry) It is what I refer to as reverse perception, the belief in someones incompetence that is so great an individual does not see their intelligence coming.

This is a case of reverse perception and greed. The letter takes on many forms. There are not many ways to get rich quick, short of taking a billion in one chance at winning the lottery while wasting your hard earned money or going to Vegas and getting caught into the illusion. Why are these illusions? When it comes to “quick money,” people always look at the one chance they might win, they never look at the million chances they are statistically set up to lose. You must be mindful of these things.

Here are some tips to help you from being tricked:

1. Do your research…make sure it is legitimate. Use the Internet.

2. Never send money to receive money…I have yet to hear of a case where you have to send money to receive money. Ask your self the question, “Why don’t they take the processing fee out of the balance of the winnings?”

3. Do not trust lotteries from other countries…other nations have very different laws and most of the time those laws will not protect your interests as it relates to you living in America.

4. There is no quick money…This is a sad revelation, but 99% of money earned comes the hard way through work

“Money often costs too much.” –Ralph Waldo Emerson

“You have reached the pinnacle of success as soon as you become uninterested in money, compliments, or publicity.” –Thomas Wolfe