New Words : 419 scam

11. 419 scam :

noun :

The four-one-nine scam is a fraud, particularly one originating in Nigeria, in which a person is asked for money to help secure the release of, and so earn a percentage of, a much larger sum.

Also referred to as 419 fraud, 419 scheme or 419 con, the classic 419 scam asks the victim to help some hapless relative of a deposed dictator remove millions of dollars out of the conman's country. The conman (or woman!) offers the victim a percentage of this fictitious pot of gold, hoping to suck the victim into paying all sorts of fees to get trunks of money out of Nigeria, Sierra Leone, the Philippines or whatever exotic country the con man chooses. Ultimately, the money is never sent, but the victims are often duped to the tune of thousands of dollars.

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