In the late 2000s, Jamaican authorities launched a crackdown on drug dealers, extraditing the country's most notorious crime-bosses to the USA; the power-vacuum was filled by telephone advance-fee fraud (419/Spanish Prisoner/etc) scammers who targeted American victims, bringing an estimated $300,000,000 to Montego Bay and its region, the epicenter of the scam.
Read the rest “The growth of Jamaican phone-scamming caused a crime-wave and martial law in Montego Bay”
Kvatch of The Hoax Hotel is masterful at playing rubes who fall for online scams. In this gem, he keeps an "FBI agent" named "Josh" on the line for nearly 22 minutes, riling him up until he's "the angriest scammer I've ever called." Read the rest “Prankster sends a 419 scammer into a NSFW rage”
In Wire Wire: A West African Cyber Threat, researchers from Secureworks reveal their findings from monitoring a Nigerian bank-fraud ring whose members had unwittingly infected themselves with their own malware, which captured their keystrokes and files and uploaded them to a file-server from which the researchers were able to monitor their activities and methodologies. Read the rest “Researchers learn about wire-fraud scam after Nigerian scammers infect themselves with their own malware”
Audrey Elaine Elrod was divorced, depressed and broke when a romance-scammer targeted her on Facebook, posing as a widowed Scottish oil-rig worker who admired her photo and sympathized with her plight. Read the rest “How a romance-scam victim laundered $1.1M worth of other victims' money”
Security researcher Brian Krebs has had a look at the contents of "BestRecovery" (now called "PrivateRecovery") a service used by Nigerian 419 scammers to store the keystrokes of victims who have been infected with keyloggers. It appears that many of the scammers -- known locally as "Yahoo Boys" -- also plant keyloggers on each other, and Krebs has been able to get a look at the internal workings of these con artists. He's assembled a slideshow of the scammers' Facebook profiles and other information. Read the rest “Keylogger service provides peek inside Nigerian 419 scammers' tactics”
The FDIC has issues a special alert warning that America's debt-haunted, cash-strapped banks are falling prey to conmen working the advance fee fraud, the same scam used in the familiar "Nigerian prince" or "419" scam. The banks fork over big bucks to supposed high-flying investors who are supposed to come through with large sums in return, but who vanish into the ether instead.
The FDIC has become aware of multiple instances in which individuals or purported investment advisors have approached financially weak institutions in apparent attempts to defraud the institutions by claiming to have access to funds for recapitalization. These parties also may claim that the investors, or individuals associated with the investors, include prominent public figures and that the investors have been approved by one or more of the federal banking agencies to invest substantial capital in the targeted institutions. Ultimately, these parties have required the targeted institutions to pay, in advance, retention and due diligence fees, as well as other costs. Once paid, the parties have failed to conduct substantive due diligence or to actively pursue the proposed investment.
Banks Desperate For Funds Victimized By Con Men
(via CSM) Read the rest “Desperate banks fall for the 419 advance-fee fraud”