The latest incarnation of the so-called 419 email scam features an American soldier in Iraq, rather than a deposed African prince, in need of help in moving a large sum of money to the U.S.
Good day, the scammer begins, perhaps not realizing thats not exactly how U.S. soldiers routinely greet people. My name in Donald Smith Fitte, an American soldier serving in the military of the 3rd infantry division in Iraq.
The email claims the sergeant and his confederates have been hiding $25 million in Saddams loot since 2003, but with the new U.S. troop surge, he expresses concern the stash might be uncovered. Therefore, he needs help getting the money out of the country.
That, of course, is where you come in.
The email promises a generous percentage of the cash if the email recipient will agree to accept it. From here, the scam works like any other advance fee scheme.
Victims will be asked to provide bank account information for a direct deposit. Or they may be asked to send money, $500 to $2,500 at a time, to facilitate the alleged transfer.
Even though these "419" email scams have been around almost as long as the Internet, people still fall for them. It has been estimated that there are well over 250,000 scammers involved in 419 scams worldwide and that they reap in over $1.5 billion annually.
The average victim pays out about $20,000.
