We've all had the experience of logging into our emails and finding a message or two that's too good to be true. While modern filtering algorithms are pretty effective at keeping spam out of your inbox, the occasional message comes through supposedly with instructions on how you can land yourself a couple of million dollars.
The “Nigerian Prince” scam is infamous around the world, but what actually is it? How many people turn down millions of dollars a year because they fear the notorious rumor? Well, not nearly as many people that lose money falling victim to the classic scheme.
What Is a Nigerian Prince Scam?
The Nigerian Prince scam refers to the age-old scamming tactic used to prey on gullible people. The traditional Nigerian Prince Scam follows the same general formula: an allegedly wealthy individual (popularly a prince from Nigeria) claims to have problems accessing their funds.
They explain that a sinister individual “controls their estate” or they’re stranded with no one to turn to through extraneous circumstances. All they need is a little help from you, and they’ll gladly give you thousands or millions of dollar as a gift for your troubles.
It seems too good to be true—and that’s because it is.
It’s just someone trying to get hold of your personal details to sell your information and/or steal your money.
But now, when people joke about Nigerian Prince schemes, they refer to pretty much any catfishing or phishing scam that tries to get you to hand over your information by promising millions in return.
Sometimes, these scammers disguise themselves as young heiresses who need help obtaining their inheritances. In other cases, emails claim that you are the recipient of a gift from a foreign relative you’ve never heard of.
They try to trick you into handing over your private data using tragic tales that pull at the heartstrings and supposedly offer huge payouts.
While many of us think of these scams as email schemes, they also apply to snail mail and social media. Contrary to popular belief, these scammers are not exclusive to Nigeria. Scammers adopting the approach typically claim to live in foreign and “exotic” countries; in reality, their bases range from everywhere from Singapore to New York.
How Do Scammers Get My Contact Information?
The chances are that these scammers don’t know you personally. In fact, you may even notice that they address you as your email address rather than your real name or even a username. More likely, scammers obtain your information from online databases.
Sharing your emails unnecessarily (such as publicly displaying information on social media profiles) or registering accounts with websites that experienced a data breach are common ways email addresses end up in these databases. It's always worth investigating whether you were "pwned".
Don’t beat yourself up too much: even practicing safe internet practices isn’t enough to stop these scams. Luckily, most modern spam filters stop these pesky messages from ever making it to your inbox. Is it that big of a deal, though?
What Do These Scammers Do?
Getting these emails is nothing to worry about—although you should flag them as spam for your email provider if they end up in your inbox. It’s perfectly normal to get one of these emails, especially on main accounts that you give out regularly.
These scammers have nothing but sinister intentions. What they ask for varies, but the purpose is always to trick you. Asking for your banking information is a prevalent technique. Most unlucky victims find that they're missing more than the small fee they agreed upon when they handed over their banking information.
In very rare cases where some money actually did appear in their accounts, they found themselves party to illegal and dangerous money laundering schemes.
Of course, they don’t just need your banking information to do some damage.
Requesting other types of sensitive information, such as passport pictures or security numbers to “confirm identities,” is also common. This stolen information can let scammers commit other crimes, such as identity theft.
Never give out your information: even simple things like your date of birth, address, or occupation make yourself vulnerable to attacks.
You may not even need to hand over anything to fall victim to an attack. If there are any files or links in the suspicious email, do not click them. These attachments or links may have malicious software that could install viruses into your computer, comprising your privacy or potentially damaging the hardware.
How to Spot a Phishing Email
There are some pretty easy ways to identify a malicious email before you fall for a scam. Here's what to look out for.
- Email addresses are very long and come from unfamiliar domains.
- Bodies of emails contain many spelling or grammar errors.
- Claims mention people you do not know (or fail to mention alleged family members or friends by name).
- Email header addresses you by the wrong name (or simply says something impersonal like “Dear Sir or Madam”).
- Origins of email are from countries you’ve never visited or have no connection to at all.
- Messages claim unrealistically high amounts of money are on offer.
- The sender claims that transactions require a pre-paid processing fee.
Although these tips are a great way to reveal online scams, they[re not not fool-proof. The safest thing to do is never give out your information to accounts you don’t recognize.
Unfortunately, it is difficult to recover funds when falling for such a phishing scam. There are some steps you can follow to secure your details following a phishing scam, but preventative measures are always preferable.
Should I Risk Nigerian Prince Scams?
No.
Although tempting, these scams are too good to be true. Falling for a Nigerian Prince scheme can cause a lot of trouble for you in the long run. It’s a good idea to steer clear of any possible scams and keep your information as secure as possible.