Advance-fee fraud (AFF), also known as 419 scams and Nigerian scams, exploded in 2009, with victims losing more money than ever before. This is according to the latest analysis from Dutch investigation firm Ultrascan—a company that has been monitoring the activities of 419 scammers since 1996—which says that victims lost almost 50 percent more money in 2009 than 2008.
Considering that 419 scams have been well-known since the 1970s, this trend is particularly disturbing. However, Ultrascan says scammers are expanding their operations and shifting their focus to emerging Internet markets, where there’s more fresh meat getting online every day.
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