Black money scam hits Mississauga resident

The CBC is reporting that a Mississauga, Ontario resident has been defrauded of $49,000 in what is known as the black money scam.

The black money scam claims that there are piles of cash that has been dyed black, and needs a special chemical to remove the dye. Of course, money is needed to buy the chemical. A demonstration is made with real money and is convincing enough to dupe the victim into giving money for buying the chemical.

Then after delays, and more money, the victim is left with a pile of black paper stacks and some liquid, and defrauded of his own money.

Although $49,000 is a considerable sum, it pales in comparison with what another man lost: $742,000, as the BBC reported in 2004.

Resources

• CBC article.
• BBC article.
• Wikipedia page on black money scam.