Remove “Unclaimed Funds” email

The “Unclaimed Funds” email is part of a spam email campaign that claims users can get an absurd amount of money. According to this email, $15 million has been left in a bank by a deceased customer, and the bank’s accountant is offering to split the money if the recipient agrees to help with a scheme. These scam emails are trying to accomplish two things, get users’ personal information and steal some of their money.

 

“Unclaimed Funds” spam email is essentially a new version of an old type of scam that was common in the late 18th century. These scams typically suggest that recipients have won or inherited a staggering sum of money, often in the millions. Victims are urged to engage with the sender and share personal information. The scammers behind these emails try to forge a relationship with the potential victims to increase the chances of a successful scam. Once a connection is made, the scammers will typically request money, coming up with various reasons – such as needing to show that a bank account is active or addressing unexpected issues – to justify their demands. If they sense that the potential victim is more gullible, they may even ask for money multiple times before ultimately vanishing.

This type of scam is a modern version of the “Spanish Prisoner” con, which dates back to the late 18th century. At that time, scammers would reach out to individuals claiming they were attempting to free wealthy prisoners from a Spanish jail. Victims were asked to contribute funds for bribes to the guards, with the promise of receiving a substantial reward in return for their assistance. It goes without saying they did not receive anything in return.

The sender of this particular “Unclaimed Funds” spam email claims to be Norm Asher, an Accountant and Auditor Manager at Absa Bank in South Africa. The sender claims that a foreign customer who kept $15 million in the bank passed away during the COVID-19 pandemic. The email recipient is supposedly offered an opportunity to get a portion of this money. Those interested are asked to use the provided email address to contact the sender.

The full “Unclaimed Funds” spam email is below:

Subject: URGENT BUSINESS PROPOSITION

URGENT BUSINESS PROPOSITION.
FROM THE DESK OF:MR.NORM ASHER.
ACCOUNTANT AND AUDITOR MANAGER
ABSA BANK OF REPUBLIC OF SOUTH AFRICA.
TELEPHONE:+27 61 058 3275.
PRIVATE E-MAIL ADDRESS: ashernorm94@gmail.com
ATTENTION:
I work as the Accountant and Auditor Manager at Absa bank Republic of South Africa. I have a very confidential business proposition for you.
There are unclaimed huge funds amounting to the sum of (USA$15 MILLION) lying in our bank that belongs to a foreign customer who died of the covid-19 pandemic.
However, I am seeking for your good collaboration to transfer the funds to you as the immediate relative for our both benefit during these difficult times.
Kindly reply to me through my above E-Mail Address once you have read this letter and declare your interest to enable me to send to you more relevant information for us to archive this transaction and meet in person to enable both of us share the funds accordingly.
Thank You.
Yours Sincerely.
Mr.Norm Asher.

If recipients respond to the email and reach out to the sender, they’ll be prompted to share personal details, such as their full name, home address, and phone number. The scammers will also likely try to establish some sort of relationship with users. As the exchange of emails continues, scammers will increasingly request more sensitive information. They will also work to build trust so that recipients are more susceptible to manipulation. Once a sense of trust is established, scammers will eventually ask for money. The reasons they provide for needing funds may be vague or illogical, but because trust has been built, victims may not question the request too much.

If scammers successfully obtain personal information, they either use it themselves or sell it on dark web forums to other cybercriminals. Sensitive information like full names, home addresses, and phone numbers are highly sought after by cybercriminals, as they allow them to carry out more sophisticated scams. Scammers are more convincing when they address targets by name or reference other personal details. If they manage to obtain credit card information, it can lead to unauthorized purchases and transactions.

Users should be cautious and know that emails offering money are always fraudulent. A good thing to keep in mind is that if something seems too good to be true, it probably is. The “Unclaimed Funds” emails do not appear credible in any way. Such scams often target older individuals who may be unfamiliar with these types of schemes and have not encountered them previously.

Why did you receive a scam email?

Users who find themselves receiving scam emails might question how their email addresses have fallen into the hands of cybercriminals. While some scammers may target random users, more often than not, a scam email indicates that the user’s email address has been leaked. Unfortunately, email addresses are frequently exposed due to inadequate security measures employed by various services. To find out if their email has been part of a data breach, users can check on haveibeenpwned. It’s important to note that alongside email addresses, other personal information can also be leaked. Although there isn’t much that can be done once information has been compromised, users can at least stay alert and cautious when encountering unsolicited emails, calls, and other communications.