What is Nigerian scam?

The Nigerian Scam: A Detailed Look at its Origins, Tactics and How to Guard Against this Growing Form of Cybercrime

The "Nigerian Scam", also known as the "419 Fraud," refers to an internet-born fraudulent scheme believed to be originating from Nigeria as far back as the 1980s. It is named after the 419 section of the Nigerian criminal code that deals with fraud. These frauds fall under the category of advance-fee fraud, wherein telecommunication networks are employed to dupe victims into making payments in advance for goods or services which they will never receive.

These scams typically involve convincing victims that they are being offered a highly profitable, often secret deal, and victims are usually made to pay certain upfront transaction fees before they can receive their share of the proposed lump sum, which they never get.

The beauty of the "Nigerian Scam" is in its simplicity and the art of its execution. The criminals peddling these scams are known to be well versed in strategy, tricks, emotional persuasion and human psychology. With the advent of the Internet, email became their primary means of communication. It generally starts with an unsolicited email that appears official or comes forth as a cry for help, seeking the recipient's immediate attention. Often, the sender pretends to be a high-ranking official from a foreign government or a bank.

These criminally crafted emails come bundled with tales of woes, inheritance suits, treasure chests, and money laundering inquiries, all aimed to extract a wide range of fees including legal fees, taxes, bribes and lots more from the targeted individuals, with promises of an incredibly rich pot of gold at the end of the transaction.

In terms of cybersecurity, these spam emails are laden with phishing links and may include embedded viruses, malware and spyware, thus posing a severe threat. Unless these emails are detected by antivirus software and thrust into the spam folder, the user could be tempted to open the email, which could activate the hidden viruses.

Antivirus software is designed to capture and quarantine such malicious viruses and protect the system from any harmful infiltration. Strong and up-to-date antivirus software can mitigate a fair amount of these security risks. cybersecurity is not just the responsibility of antivirus softwares but also of individuals who should be aware of possible scams, spam and phishing schemes.

Early awareness and education about these scam techniques can safeguard users. It is essential never to share personal or financial information, never click on suspicious links, and remember the golden rule: if it's too good to be true, it probably is.

Reporting of such scams is crucial too. If the users suspect they've been targeted, they are encouraged to report to the local law enforcement or their national fraud information centre. International bodies such as the Nigerian Economic and Financial Crimes Commission and the U.S. Federal Trade Commission also work towards collecting and investigating these scam cases.

The advent of 'Nigerian scams' indeed presents a combined challenge for cybersecurity and antivirus defenses across cyberspace. It's a reminder that constructing concrete technical defenses in isolation is not enough; users must also be educated proactively and use sophisticated tools to defend against the continually evolving landscape of Internet scams. Hence, even though the "Nigerian scam" might seem like an old cliché in the lexicon of fraud, it continues to be a relevant chapter in the books of both cybercrime and cybersecurity.

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