Black money scam
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 convincing them that piles of banknote-sized paper are real currency that has been stained in a heist. 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.
Chemicals used
A Ghanaian native caught perpetrating the scam revealed the tricks of the trade to ABC News Chief Investigative Correspondent Brian Ross.[1] Authentic US$100 bills are coated with a protective layer of glue, and then dipped into a solution of tincture of iodine.[2] The bill, when dried, looks and feels like black construction paper. The mass of notes are real construction 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". Solutions of calcium hydroxide and magnesium hydroxide have also been used as washing agents in the scam.
References
External links
- Toronto Police warning CP24 article on an arrest report with an alert on the Black Money scam mentioning forged currency December 2022
- 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 2018.
- Fraudaid How to do it.
- IOL Cops arrest 'black dollar' victim October 2007
- v
- t
- e
- Scam
- Error account
- Shill
- Shyster
- Sucker list
confidence tricks
- 1992 Indian stock market scam
- 2G spectrum case
- Advance-fee scam
- Art student scam
- Badger game
- Bait-and-switch
- Black money scam
- Blessing scam
- Bogus escrow
- Boiler room
- Bride scam
- Charity fraud
- Clip joint
- Coin-matching game
- Coin rolling scams
- Drop swindle
- Embarrassing cheque
- Exit scam
- Extraterrestrial real estate
- Fiddle game
- Fine print
- Foreclosure rescue scheme
- Foreign exchange fraud
- Fortune telling fraud
- Gem scam
- Get-rich-quick scheme
- Green goods scam
- Hustling
- Indian coal allocation scam
- IRS impersonation scam
- Intellectual property scams
- Kansas City Shuffle
- Locksmith scam
- Long firm
- Miracle cars scam
- Mismarking
- Mock auction
- Moving scam
- Overpayment scam
- Patent safe
- Pig in a poke
- Pigeon drop
- Pork barrel
- Pump and dump
- Redemption/A4V schemes
- Reloading scam
- Return fraud
- Salting
- Shell game
- Sick baby hoax
- SIM swap scam
- Slavery reparations scam
- Spanish Prisoner
- SSA impersonation scam
- SSC Scam
- Strip search phone call scam
- Swampland in Florida
- Tarmac scam
- Technical support scam
- Telemarketing fraud
- Thai tailor scam
- Thai zig zag scam
- Three-card monte
- Trojan horse
- Wash trading
- White van speaker scam
- Work-at-home scheme
countermeasures
- Avalanche
- Pig Butchering
- Carding
- Catfishing
- Click fraud
- Clickjacking
- Cramming
- Cryptocurrency scams
- Cybercrime
- CyberThrill
- DarkMarket
- Domain name scams
- Email authentication
- Email fraud
- Internet vigilantism
- Lenny anti-scam bot
- Lottery scam
- PayPai
- Phishing
- Referer spoofing
- Ripoff Report
- Rock Phish
- Romance scam
- Russian Business Network
- SaferNet
- Scam baiting
- 419eater.com
- Jim Browning
- Kitboga
- Scammer Payback
- ShadowCrew
- Spoofed URL
- Spoofing attack
- Stock Generation
- Voice phishing
- Website reputation ratings
Ponzi schemes
- Aman Futures Group
- Bernard Cornfeld
- Caritas
- Dona Branca
- Earl Jones
- Ezubao
- Foundation for New Era Philanthropy
- Franchise fraud
- High-yield investment program (HYIP)
- Investors Overseas Service
- Kapa investment scam
- Kubus scheme
- Madoff investment scandal
- Make Money Fast
- Matrix scheme
- MMM
- Petters Group Worldwide
- Pyramid schemes in Albania
- Reed Slatkin
- Saradha Group financial scandal
- Secret Sister
- Scott W. Rothstein
- Stanford Financial Group
- Welsh Thrasher faith scam