What Is Nigerian Prince Scam? How To Protect Yourself From Advance-Fee Fraud? All You Need To Know
The ‘Nigerian Prince’ scam became infamous in the 1990s, targeting individuals with emails claiming to be from Nigerian royalty seeking financial help. These scammers promised massive repayment once their wealth was “freed,” often luring victims into losing their life savings.
New Delhi, January 5: The “Nigerian Prince” scam became infamous in the 1990s, targeting individuals with emails claiming to be from Nigerian royalty seeking financial help. These scammers promised massive repayment once their wealth was “freed,” often luring victims into losing their life savings.
Despite the implausibility and outlandish sums involved, thousands fell for these schemes. Over time, awareness of these scams grew, and they became widely mocked, even turning into popular memes symbolising the absurdity of internet fraud. What Is Brushing Scam? How To Identify and Protect Yourself From Fraudsters Targeting Online Shoppers? All You Need To Know.
What Is Nigerian Prince Scam?
The Nigerian Prince scam, also called advance fee fraud or 419 fraud, is one of the oldest internet scams. It typically begins with an unsolicited email from someone claiming to be a wealthy royal, government official, or businessperson in distress. They promise a share of their immense fortune in exchange for your help in transferring it out of their country. What Is Jumped Deposit Scam? Here’s How To Protect Yourself From New Online Fraud That Targets UPI Users.
The scammer often asks for a small upfront payment to cover administrative or legal fees. Alternatively, they may request personal information like bank details to “safeguard” the money. Once the victim complies, the scammer disappears, either taking the money or using the shared information for fraudulent activities. Though emails are the most common medium, these scams also occur through social media or traditional mail.
How the Nigerian Prince Scam Works?
- Appealing Backstory: Scammers craft a compelling story, often involving political unrest, kidnapped children, or stolen wealth. These tales are designed to evoke compassion, greed, or a sense of responsibility.
- Call to Action: Victims are asked to transfer money or share personal information under the promise of substantial rewards.
Why People Fall for It?
The scam is effective because it plays on human emotions like kindness, greed, or the desire to be a hero. Victims are tempted by the promise of easy financial gain or feel compelled to help someone in dire need. The scammers often build a sense of trust before asking for money or details, making victims feel obligated to assist.
How To Protect Yourself From Nigerian Prince Scam?
- Recognise Red Flags: Be cautious of unsolicited messages promising wealth or sharing dramatic personal stories.
- Avoid Sharing Information: Never give personal or financial details to unknown individuals.
- Ignore Suspicious Emails: Delete or report these messages as spam.
If you’ve fallen victim, report the incident to local authorities or your financial institution. Staying vigilant is the best defence.
(The above story first appeared on LatestLY on Jan 05, 2025 06:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).