"Nigerian 419" scam
Date: March 31, 2007Source: SFGate.com
Americans lost a record amount to Internet fraud schemes last year, and the notorious "Nigerian 419" scam is blamed for the largest individual losses.
A government report on 2006 Internet crimes also records the sudden emergence of extortionists who use e-mail to deliver ominous threats that grave consequences await unless money is sent.
The new federal statistics show that Americans reported losing an all-time high of $198.4 million to Internet fraud in 2006, up 8 percent from 2005 levels of $183 million and 191 percent from 2004 levels of $68 million.
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