Artist Liechtenstein

Togo is a regional banking center. The establishment of the ECOWAS bank sponsored by the Economic Community of West African States brought increased financial activity to the country. Togo is home to around 13 national and international banks. There has also been an increase in the amount of 419 ("advanced fee") scam letters intercepted that originates in Togo. In a typical scam letter a victim is solicited into a money laundering scheme for a percentage of the funds. Scam letters often claim to have access to millions of dollars of funds that need to be transferred out of their respective countries. The scam artist aims at gaining access to the target bank account information. The scam artist then uses this information to drain the account of funds. Some letters also try and lure the victim to the country of the scam artist’s origin where they are threatened with physical harm. ... [Read More]