A 419 scam refers to an illegal act by which fraudsters try to siphon out money from people under the pretext of giving back millions of dollars only if they advance a small amount of money. These scams happen over emails. Also known as Nigerian scam, which is a form of advance fee scheme, the mail sent by a self-proclaimed Nigerian government official or a rich man encourages the target recipients or the victims to send some amount of money along with their bank account details by promising millions and billions of dollars in reward. In such mails, the fraudster generally reaches out to the victim under the pretext of seeking help to transfer a huge amount of money from his or her account back in Nigeria and in return, the fraudster promises a large share of the transferred amount to the victim. As such schemes or frauds violate section 419 of Nigerian Criminal Code; it got the label of 419 scam or fraud. This article provides answers to frequently asked questions associated with 419 frauds and their implications.
What is a 419 scam?
A 419 scam is an act of fraud by acquiring something from somebody by deceit or by false promise by sending mails. In this, the fraudster sends random mails stating that he or she needs urgent help to transfer a huge amount of money from his or her country citing many reasons like political instability or civil war. The recipient of such mail or the victim is also asked to send some amount of money along with bank account details to initiate the whole process of transfer and in return, the fraudster also promises a huge monetary reward. Eventually, the victim ends up with making a financial loss. Can the bank sue somebody if the 419 scam case has already been dismissed by a criminal court?
Yes, it is most likely to happen. If the bank believes that it has a valid claim, it can approach a civil court by filing a civil claim. The accused needs to appear in the civil court to determine whether he or she is liable or not. However, burden of proof in the civil suit is not as high as in a criminal suit. Can a victim of 419 scam attribute the loss either to loss in investment or theft?
The loss involving a 419 scam is considered as personal causality. And in a situation like this, no deduction may be possible if the loss incurred is subjected to reimbursement or there is a reasonable chance of recovery. So, you may only have to deduct property in which you have a tax basis. Now, if the lost money was a part of pre-tax assets, you may not be able to deduct the loss.
I have received a letter sent by British Law Office which asks me to send money. Is it a 419 scam?
Yes, it could be a type of 419 scam as such scams originating from Nigeria and other West African countries are using the name of British Law Office in their mails or letters. If you have been asked to send some amount of money to someone you don’t know, you should get in touch with the Better Business Bureau or FBI before doing anything. Most of the 419 scams or instances of fraud happen over emails. Never respond to such mails by sending money or providing your bank account credentials. You have to guard your bank account information. Upon receiving such mails, you can get in touch with law enforcement agencies like FBI and the U.S Secret Service. You can also approach Federal Trade Commission’s Complaint Assistant or Better Business Bureau for further assistance. However, you can ask a criminal lawyer to help you in such cases.
Related Articles -
419 scam, scam 419, what is 419 scam, 419 fraud, 419 scam emails, 419 scam scammers, 419 scam list, 419 scam bait, report 419 scam, 419 scam document,
| 
