[PDF]Black Money Scam Wikipedia

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Black money scam

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The black money scam, sometimes also
known as the "black dollar scam" or "wash
wash scam", is a scam where con artists
attempt to fraudulently obtain money from
a victim by persuading him or her that
piles of banknote-sized paper in a trunk or
a safe are actually currency notes that
have been dyed to avoid detection by
authorities. The victim is persuaded to pay




fees and purchase chemicals to remove
the dye, with the promise of a share in the
proceeds.

The black money scam is a variation of
what is known as advance fee fraud .

Phases of the scam

First contact

Typically the scammer will send out
thousands, if not millions of e-mails to
known and random e-mail addresses,
hoping for a few replies. The initial
message may read something like this:



I am a lawyer in Belgium and I
am charged with seeking the
rightful heir to certain assets
which were deposited many
years ago with a security
company here in Brussels by a
man who died a few years ago.

We have made extensive searches
to find any living heirs, but with
minimal success. A man with
your name is named in the Will
and Testament as being the only
beneficiary of these assets. We
believe that you may be the


person entitled and are writing
to enquire if you have any dead
relatives or friends who may
have namedyou as a beneficiary
of these assets in their will and
testament. If so please let us have
their names and any other
information so we can check if
you are indeed the beneficiary.
The amount of the assets is
$150,000 and one large trunk,
contents unknown. Please reply
immediately


Sometimes however, the scammer resorts
to directly approaching the victim.

Advance fees: the fraud starts

As the communications between the two
parties continue, it will become necessary
for certain fees and expenses to be paid,
including government taxes, or death
duties. In reality, there are no such taxes to
be paid. However the need to pay fees or
taxes is used as an excuse to make any
free funds vanish, and/or to extract funds
from the victim.


A trunk full of black money?



Eventually by various means and devices
the victim will be persuaded that the trunk
contains a very large amount of cash
which had a legitimate, or not so
legitimate, reason for all this money to be
in cash. Furthermore, the money has all
been stained black or another color to
avoid detection by customs. A valid
reason for this will be given: "The deceased
traded in African artifacts and had to pay
for some expensive items in cash before he
died. To avoid customs problems and theft
the money had to be stained black." The
victim is assured that the chemical needed
for washing the money is also in the trunk.



The victim may have already paid some
money to pay fees and taxes, and he may
now be invited to pay the shipping
expenses of the trunk to his home country.
Whether these are paid or not, the trunk
will not be shipped and further sums will
be demanded on various pretexts, such as
taxes, security company fees, money
transfer fees, legalization fees, export
permissions, etc.

Victim goes to see the "money"

When at some point the victim is having
doubts, or showing reluctance to pay any
more, he will be invited to inspect the



contents of the safety deposit trunk
himself. With much ceremony and pomp,
the box will be opened to reveal the
stained paper. The victim will be informed
that these are stained with an almost
unwashable color but that a chemical
exists which can remove it.

Washing a small sample of the
black "money"

Then the conman will produce a small vial
of the washing liquid and ask the victim to
select any stained bank note at random.
This done, the conman proceeds to wash
the banknote in the chemical, performing a



sleiaht of hand, substituting a real note
which is washed. There will be insufficient
liquid to wash any more money, or the
conman may "accidentally" knock the
bottle over on the floor.

More funds needed to pay for
washing chemical fluid

The victim cannot take away the trunk, or
any notes, since he is informed that the
taxes have not been paid, but once the
notes are "washed", it will be easy to pay
the taxes and there will be money left over.
The victim is persuaded that he must buy
the chemical to wash the notes, and of



course the chemical cleaning fluid is "very
expensive". Once again the victim parts
with money to the fraudster. Sometimes
the fraudsters will set up a website
purporting to be a seller of the cleaning
fluid, which obviously has such a unique
and unusual name that it can not be found
anywhere else. This adds to the credibility
of the story and the victim may even
contact the website directly to buy the
fluid, allowing the conmen yet another
chance to con the victim. Alternatively the
conmen may also refer the victim to a
specific online advertisement for the
chemical and black money.



Delay after delay, more fees, no
money

The fraudsters will continue to find
excuses as to why the victim cannot have
his money just yet, but will always promise
it after one "last and absolutely final step",
which obviously involves the payment of
yet another fee by the victim. The
scammers will continue to milk the victim
until they are sure he has no more money,
and that he cannot get any by begging and
borrowing from friends or banks, or until
the victim realizes that he is being
scammed, and gets the police involved.
Needless to say, the fraudsters



themselves, and the victim's money, are
usually long gone by the time the police
are involved.

Reporting of the crime

Most such frauds are not reported by the
victims for several reasons. First, they may
feel terribly ashamed that they could be so
naive. Second, many of the scams will
involve the victim knowingly agreeing to
receive the proceeds of a crime - e.g. he
may be informed that it is drug money, tax
evasion money, or simply stolen.
Sometimes the scammer will have
persuaded the victim to incriminate



himself, e.g. by falsifying a document, or
lying on a tax declaration etc. The victim
may thus be reluctant to come forward
and admit that he was knowingly
participating in what he thought was a
criminal scheme.

Terminology used in the scam

■ The defaced money

• Anti-breeze bank notes

• Black Money

■ The chemical

• S.S.D. Solution


Vectrol Paste



Febi-Manetic


• Humine Powder
o solid solution

o Shiba / Fay

o Motion

o Decharge

o Sahualla

Chemicals used

A Ghanaian native caught perpetrating the
scam revealed to ABC News Chief
Investigative Correspondent Brian Ross
the tricks of the traded Authentic hundred
US dollar bills are coated with a protective
layer of glue, and then dipped into a



solution of tincture of iodine .^ The bill,
when dried, looks and feels like black
sugar paper . The mass of notes are real
sugar paper; when the victim picks a
"note" for cleaning, it is switched with the
iodine coated note. The "magic cleaning
solution" is actually crushed Vitamin C
tablets dissolved in water. In another
arrest, ordinary raspberry drink mix was
found to be the "magic cleaning solution".
Now CafOI-Oo and MafOI-O o are used and
dissolve their note into these solutions


References



1. 'The Secrets Behind the 'Black Moneys
Scam" . abcNEWS. Retrieved 2 December
2011.

2. 'Sjack money cleaning scam - see how
ft's done” . AEC News Today. 20 September
2015.

External links

■ Secrets Behind 'Black Money' Scam
ABC News

■ Metropolitan Police Information on the
fraud from the London Metropolitan
Police Service

■ BBC An article from the BBC on how a
businessman was conned out of


$742,000.

■ Two conmen in dollar bill hoax arrested

Gulf News article from December 2003.

■ Fraudaid How to do it.

■ IOL Cops arrest'black dollar'victim
October 2007


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Last edited 2 months ago by KH-1

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