Sunday, July 09, 2006

419 Scam

419er scams are commonly found in most email inboxes. When you check your e-mail you may find a message from an anonymous person wishing to deposit large amounts of money into your bank account in return for you returning the money to them after taking a few (normally several hundred thousand dollars).

This scam is known as Advance Fee Fraud or more commonly as 419 Fraud (based on the Nigerian Law #).

At some point the victim is asked to pay an up front fee to the scammer who will then blast off e-mails to thousands more people.

It has been estimated that 419 scammers are the fourth-largest industry by value in Nigeria, however these scams are also run from other African countries.

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