RIGGS BANKS has been "resurrected" by Nigerian 419 Advance Fee Fraud organizations to add credibility to their international scams. They are attempting to solicit help from gullible business people to "move millions from Chile's former dictator Pinchet".
Riggs bank, known in the past as the bank for US Presidents and diplomats, was purchased in 2004 by PNC under the condition that scandal ridden embassy business would be phased out. The name Riggs is no longer used by its owners.
Nigerian scammers obviously have no problem with the stained name and use the name and several Riggs bank web sites to add credibility to their scams.
Victims of this "Riggs Bank International" receive a user ID and login password to "see the millions" and fake transactions via bogus internet banking. For these fake transactions, they must pay fees between $5, 000 and $350.000 depending on the transaction which could be getting a loan, a lottery prize, a government contract, or one of the hundreds of other Nigerian Advance Fee tricks, or just the opening balance of $10, 000 account with this fake bank.