The Nigerian Scam predates the public's use of the Internet -- it began with letters, progressed to faxes, and inevitably advanced to email (according to the 419 Coalition Web Site, the scammers are officials from governments that, in the last decades, have been in power in Nigeria; check out the theory and a brief history of the scam here).
Wired has published an article about the latest variant of the scheme. This time, the scammers don't need your assistance in retrieving large amounts of cash; rather, they want to buy expensive possessions--like your car.
The buyer explains that a business associate in the United States will mail the seller a cashier's check for the amount of the item plus the cost to transport it overseas. The seller is asked to wire the transportation fees to the buyer once the check has cleared so the buyer can arrange for shipment.
But a week or so after the check clears and the money has been wired, victims are notified by their banks that the check was counterfeited.
The scam exploits federal laws that require banks to make funds available to customers within five days of the check's deposit. Discovering a counterfeit check, however, can take far longer than this federally mandated time period. This fact notwithstanding, customers, rather than banks, are responsible for funds withdrawn on the assumption that the cleared check covered the balance.
Victims -- there are nearly 100 -- have put together an online support group.
Wired's coverage is here.