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The EFCC was established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), [2] which named Nigeria as one of 23 countries non-cooperative in the international community's efforts to fight money laundering. [1] The agency has its head office in Abuja, Nigeria. The EFCC was also set up to ...
An advance-fee scam is a form of fraud and is a common confidence trick. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum.
Based on mostly the same principles as the Nigerian 419 advance-fee fraud scam, this scam letter informs recipients that their e-mail addresses have been drawn in online lotteries and that they have won large sums of money. Here the victims will also be required to pay substantial small amounts of money in order to have the winning money ...
In 2003, the Economic and Financial Crimes Commission (EFCC) was established as a law enforcement agency to investigate financial crimes such as advance fee fraud (419 fraud) and money laundering. [3]
419eater.com is a scam baiting website which focuses on advance-fee fraud.The name 419 comes from "419 fraud", another name for advance fee fraud, and itself derived from the relevant section of the Nigerian criminal code.
The victim is persuaded to pay fees and purchase chemicals to remove the dye, with the promise of a share in the proceeds. The black money scam is a variation of what is known as advance fee fraud . Chemicals used
419, see § Advance-fee; Advance-fee – involves promising a victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum. [3]
Scam baiting (or scambaiting) is a form of internet vigilantism primarily used towards advance-fee fraud, IRS impersonation scams, technical support scams, [1] pension scams, [2] and consumer financial fraud. [1]