Nigerian e-mail scam victim knew the score

[snopes]

Whether he was a businessman trying to make a buck or a victim of an Internet scam, Bennett Fitzalan-Howard will likely end up on federal probation because, authorities say, he knew better.

His story followed a familiar arc that begins with shady e-mails that pile up faster than they can be deleted, relaying desperate pleas from foreign tycoons trying to free their fortunes trapped abroad by corruption and bureaucracy.

http://www.timesunion.com/AspStories...date=2/19/2007

[charlie23]

I'm actually curious as to how they handle the money on the "Nigerian" end. I'm getting a lot of these mails from the UK these days...surely this has been going on long enough now that the banking system must have some way to trace the accounts ? Can cash from forged checks really dissapear that easily ?

[Eddylizard]

Originally Posted by charlie23

I'm actually curious as to how they handle the money on the "Nigerian" end. I'm getting a lot of these mails from the UK these days...surely this has been going on long enough now that the banking system must have some way to trace the accounts ? Can cash from forged checks really dissapear that easily ?

As I understand it:

Scammer in Nigeria sends a forged instrument (cheque, money order) to the mark in say USA.

The eager mark after deducting his 'cut' sends the remainder back to the scammer in the form of a valid instrument, TT, SWIFT or whatever.

The bank in Nigeria receives the perfectly valid payment, and credits it to the scammers account in the usual fashion. The scammer draws on the funds, closes the account and buggers off.

The mark then finds that the scammers instrument was worthless.

If an account holder walks into a bank and presents a valid instrument made out in his name, or recieves a TT/SWIFT transfer to that persons account, they do not generally question where, why or under what circumstances the account holder received that payment.

ETA In the case of the advance payment scam, the scammer is stiil receiving valid payments from the mark. It's then down to the scammers judgement as to when to get out before the mark becomes too suspicious and alerts the authorities.

[Enchanting_eyes]

But some banks you can go in and cash a check without a checking account. I am not sure if there is a certain amount you can cash before they tell you, you need an account to deposit the check.