Details emerge of new financial scam targeting small companies

SMALL businesses have been warned of a new international financial scam which has taken a twist.

Most people are aware of the Nigerian 419 email scam which claims the son of a deceased oil baron or senior government official will contact a business or an individual with a promise of countless thousands of euro, in exchange for their bank details.

However, a more sophisticated scam has emerged in recent days whereby the conmen have targeted people directly in writing, apparently posting the letters from within Ireland.