A 419 scam is an everyday occurrence. It is an attempt to steal money from people based on the premise that extra money will be obtained if they advance a small amount of money. Many people fall victim to this scam and are left with a number of legal questions about their rights, the law, and the legal resources available to them. Here are the top questions on the subject answered by attorneys.
Q. What is a 419 scam?
When one person obtains something from another through deception or deception, it is considered fraud. Legally explained, “it is a material misrepresentation of a fact that the person making the misrepresentation knows to be false, and intends to act on the misrepresentation out of ignorance of the falsification.” A 419 scam is fraudulent activity that involves paying more than cost at auction, or an attempt to steal money through a false promise that the person paying the money would earn even more money when they pay a small amount.
Q. Can the bank still sue a person if a 419 scam case was dismissed by criminal court?
In such a situation, the bank could still have a valid civil lawsuit covering issues such as conversion, breach of contract, etc. The bank could try to collect the money by filing a civil case. If the court determines that you have a valid claim, you may need to appear in a civil lawsuit to determine whether or not you should pay the bank. However, the burden of proof in a civil trial is usually not as high as in a criminal case.
Q. Would it be better to speak to Corporate Security or decline comments when faced with a case?
The law requires that all citizens cooperate morally and legally with business security. According to the law, a citizen must provide all the information they are looking for. This could involve providing records, testifying in court, signing affidavits, etc.
However, it is important to remember that most situations are unique. If the statements you make or the details you provide are likely to implicate you in the case, you may need to consider enlisting the services of legal counsel.
Q. Can a victim of the 419 scam write off money as investment fraud, loss or theft?
When a person loses money as a result of a 419 scam, it is considered a personal casualty loss. While you can deduct some losses in the year that you actually discovered the loss, there are limitations to this. If the loss can be reimbursed or if there is a possibility of recovering the loss, the deduction would not be possible. Also, you can only deduct a property if it has a tax basis. What this means is that if you lost money from your assets before taxes, you cannot deduct that loss.
Q. If I receive a letter from a British law firm asking me to send money, would it be a 419 scam?
There are many forms of scams originating from Nigeria and other West African countries where they use fake identities from British law firms. Whenever you receive a request for money from someone you don’t know personally, it’s always a good idea to check with the Better Business Bureau or the FBI before taking any action.
Several scams start with an email. If you are unsure of the validity of the email, you should not send money. Scam and fraud are criminal offenses. If you are concerned about being the victim of a 419 scam, mail fraud, or any other type of fraud, you should ask an expert for legal information that can help you take the best course of legal action available to you.