Further business advice required

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Posted: Mon Oct 20, 2008 3:06 pm

Thank you to all who pro-offered the very considered advice regarding entering into a business oportunity with the Nigerian contact.

I now wonder, all these documents that we hear about in the scammers script (anti terrorism/ drugs/ money laundering) do these actually exist in real life? (I know the anti money laundering does apply)

Actually, it will be down to the currency traders we impliment for the transaction to deal with, but I was just wondering if any of you have any experience of this? As I am trying to create a process chart.

Time for me to properly hit google, me thinks!

it is so funny, trying to research legitimate business dealings with Nigeria, the amount of anti 419 you have to wade through. I know it happens every day, but it is amazing that people still get sucked in with so much information available. Just goes to show that there are still people out there who will be very easily parted with their money, while doing absolutely no research whatsoever.

Thanks once again for your time, guys & Gals.

Posted: Mon Oct 20, 2008 3:19 pm

Just make sure everything has a Red Seal of Truth, and any documents from Lawyers have a set of scales printed on them, and preferably, a 'Certified Genuine Copy' stamp...

Posted: Mon Oct 20, 2008 3:24 pm

I am assuming there was a level of sarcasm attached ot that post? Smile

No worries the solicitors in France will be dealing with the legalities of the purchase.

I am just concerning myself with the 40% deposit which the clients will have to front (french banks will lend 60% to Nigerian Buyers) and the best method of getting this fund from Nigeria to the Notary in France as cost effectivily and legitimately as possible.

Posted: Mon Oct 20, 2008 3:35 pm

Sorry, my little joke! Good luck with your transaction. I have never dealt with that part of the world in any legatimate capacity, unfortunately.

Posted: Mon Oct 20, 2008 4:15 pm

I guess a trunk or box is out of the question Wink

Avoid security firms and barristers Laughing

When I moved from Europe to Canada I used one bank transfer for a five number figure and it cost me less than $50 exchange included. (they will rob you there a bit) but I had already opened an account with a bank here.

Posted: Mon Oct 20, 2008 6:06 pm

How do funds get remitted from Nigeria ?

After 25 years in international banking I can't guide you as I've never seen it happen. Clearly it must be possible, but the whole of the country operates on bribes and graft so it can't be easy, though you may be dealing with people who have the right connections.

All I would say is that you should not accept any drafts, cheques or money orders in any form, wherever drawn on planet earth, and I'd be inclined to feel discomfort with Western Union, so that only leaves a SWIFT (an acronym for Society for Worldwide Interbank Financial Transactions) transfer - bank to bank. I'd also open a special account for receipt of these payments, which get automatically get 'swept' to another account (if French banks are prepared to do this). The receiving account would be strictly for receipt of funds only, and that should assist in avoiding it being involved in any fraud. It never holds any funds.

Posted: Tue Oct 21, 2008 1:04 am

bill2 wrote:

I guess a trunk or box is out of the question Wink

Avoid security firms and barristers Laughing

When I moved from Europe to Canada I used one bank transfer for a five number figure and it cost me less than $50 exchange included. (they will rob you there a bit) but I had already opened an account with a bank here.

Or a trunk box, in some cases, just to put the two together.

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