Scammers Love Your Money

We generally classify email messages pretending to be from a family member of a (often African) dignitary or from a desperate young woman as scams. In the first case, the sender sometimes explains that following the death of an influential dignitary a large sum of money is blocked in a bank account somewhere. With the recipient’s help and using his or her financial backing for a money transfer, the sender says that it would be possible to release the money. Substantial compensation is offered to whoever agrees. In the second case, the unknown beauty becomes a friend with the victim and suddenly has a terrible money problem.

For some individuals, these swindles, called advance fee fraud (also known as 419 fraud) and romance scam, are a primary source of revenue. They also employ lottery and fake price scams.

In Eastern Europe senders remain discreet and hide their wealth. But in some African countries such as the Ivory Coast, many crooks work openly. After reading a news item on this subject at the France24 observers web site, I searched the French Skyrock social networking platform and discovered the photos and videos from their exploits. Each crook has his own blog entries and is attached to a gang web page were each member is listed in a friends list. They are plenty boastful. Among the group names, we have:

• les banquiers arabes (the Arab bankers)
• la banque africaine (the African bank)
• les boucantiers de la Cote d’Ivoire (The Ivory Cost boucantiers)
• les plus riches (the richest)
• etc.

Here is one example:

According to 419 AFF, losses from advance fee fraud in 2007 by companies and individuals reached US$4.3 billion.

In France, one naive victim recently lost €1 million!

Last year, Janella Spears of Oregon is reported to have lost $400,000 (£270,000) after falling under the spell of one such criminal. Here is her account:

The naive are numerous, and cybercriminals know it. We must remain vigilant.