Recent & Common Financial Scams
Protect your financial and personal information by staying aware and informed. Below is information about a number of recent and common financial scams.
Fraudulent emails known as phishing scams pose as your financial institution or other trusted business to try to obtain your personal and financial information online or by telephone. Learn more about phishing.
Nigerian Payment Scam
There are several variations of what is commonly called the "Nigerian Payment Scam." Scammers usually contact potential victims by email, explaining that they know of an international bank account containing millions of unclaimed dollars. If you claim to be the next of kin to the deceased owner of the account, the emailer promises to split the money with you. Variations of this story include a trust fund that the individual cannot claim from his militant government or an account held in a murdered family member's name.
Before the money can be obtained, the scammer will tell you that you must first provide thousands of dollars up front to pay for various fees. This email and its variations are scams. The email may even provide the address of an international bank where you can set up an account. The scammer then supposedly fills the account with millions of dollars to prove that it is not a scam. The bank and the money are not real and are used instead to gather your personal information for illegal use or to convince you to transfer funds to them yourself.