Nigerian (419) fraud is showing an alarming increase in India (900 percent) in one year. Pramit Pal Chaudhuri of the Hindustan Times is reporting:
The world’s most widespread financial fraud, the Nigerian 419 scam, is finding new pastures in Asia. India is the third fastest growing market with the defrauders’ earnings from Indians increasing nine-fold in one year, says a report by the Dutch firm Ultrascan Advanced Global Investigations.
Almost every cellphone and email user has been solicited by a 419 con man. The best-known ploy is a message claiming there are unclaimed fortunes in banks that can be accessed if someone puts up a little money upfront.
Pramit quoted some interesting figures in his article suggesting the worldwide bill for this type of fraud is $3.88 billion.
Pramit’s (interesting) story, here.
Pramit cites intelligence from the Dutch firm Ultrascan Advanced Global Investigations. They have a lot of interesting facts about Nigerian fraud, here.
In October (2005), I did a post exploring how some rationalize this activity in Nigeria:
419 From the Other Side of the Fence
The post references a Nigerian pop singer (Osofia) and a song he did about the infamous scam:
Perhaps, Osofia should update his song to include all the other currencies being chopped?
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1 user commented in " Nigerian (419) fraud is a worldwide problem "
Follow-up comment rss or Leave a TrackbackI am Mrs Farida Waziri, Chairman, Economic and Financial Crimes Commission (EFCC) Nigeria, I want to inform my great Nigerians and follow men of the gang of internet fraud and local team fraud, That it is not easy to sleep the cafe for 30 days and 20 night without going home, even seeing outside, It is very adviceable to do what ever you wish as far as the Western Union Money Transfer or Money Gram bring down your Money, You did not steal the Money, it was somebody that sent it to you, I will discharge all the people we have arrested first thing tommorow morning and bring in Chief Oluse -ogun and other fellow Big belle who is eating the Inner Money of Nigeria to replace the yahoo boys i have under my custordy.. I promise you all.
Anybody who writes bad or insult our fellow yahoo boys, I am going to put u were the Oluse-ogun who brought this ideal of efcc to nigeria, i will put u were he belongs…. as for me Chairman, Economic and Financial Crimes Commission (EFCC) Mrs. Waziri, this name is nor for joke o! I am collecting my own share of Money as far as they pay me for this job, i dont care about u o! so kill ur self if u dont like the yahoo boys!11 shoor….. Kilowolere? Ogun or gbua?
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