Details appear of new financial scam targeting medium companies

Medium  businesses have been warned of a new international financial scam which has taken a twist.

Most people are aware of the Nigerian 419 email scam which claims the son of a deceased oil baron or senior government official will contact a business or an individual with a assure of countless thousands of euro, in swap for their bank details.

Though, a more complicated scam has emerged in new days whereby the conmen have targeted people straight in writing, in fact posting the letters from within Ireland.

They are also targeting people with the same surname of an imaginary person they claim has died leaving a multi-million dollar fortune behind them.
The letter, which claims to be from a consultant in a named financial services company based in New York.

The "consultant" says he asked a friend of his travelling to Ireland to post the letter.

He proposes that the receiver of the letter enters into an arrangement with him to claim the estate of a saver who died in an accident in China, leaving an estate worth $18.5 million (€15m).

"He has no next-of-kin and the reason I am writing to you is because you bear the same name last name individuality," the letter states.

It goes on to hearten the recipient of the letter to exchange bank account details in order to become a beneficiary of the account.

"In terms of sophistication, this is certainly a step above the spam emails that we all receive from time to time," he said.

"It looks reasonably professional, so businesses and individuals have to be on their guard.

"There are some telltale signs that indicate that all is not as it seems."

The letter comes "From the desk of Ed Sullivan", but is not printed on letterhead or official note paper.

And he said a cursory Google search turns up no mention of such a person in that company.

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