US citizens lost N7.56 billion to Nigerian fraudsters in 2011

Photo: wallpaperpimper.com

“The most vulnerable Americans are between the ages of 40 and 59 while women are three times more likely to be scammed than men.”

 

Nigerian fraudsters duped United States citizens of N7.56 billion ($50.4 million) in 2011 alone, a senior official of the U.S. consulate in Nigeria, Michael Bonner, has revealed.

Chief among the scams used by the fraudsters is the Advance Fee Fraud popularly called 419.

Speaking at a workshop in Lagos titled “The Dynamics of Cashless Economy and Emerging Methods in Financial Crimes for Investigators and Prosecutors,” Mr. Bonner said Americans lost over N855 thousand ($5,700) per hour to Nigerian scammers.

He said US authorities receive about 15 complaints per day from Americans scammed by these fraudsters; a daily total of N20.7 million ($138,000).

According to Mr. Bonner, the most vulnerable Americans are between the ages of 40 to 59 while women are three times more likely to be scammed than men.

Nigeria’s unenviable reputation as the hub of financial and online crimes is unrelenting. Last week global financial management firm, KPMG rated the country as the most fraudulent to do business in Africa. Despite claims by the government that it is fighting corruption, the firm blamed regulatory failure and a herculean legal process for failure to punish perpetrators.

Growing unemployment, officially put at over 40 per cent also means that majority of the population who are youth are easily drawn to (cyber) crimes.


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  • Adeojo AA

    This story is another misleadin stuff from premiumtimes. you celebrate this with one intent, cast Nigeria as corrupt. No American media will do such. You forget to highlight the greed and criminal intent of those Americans. How can a guy you have not met emails you, tellin you he is manager of some bank, and a dead customer had $100miilion unclaimed in the vault. That you will get a cut if you provide an account where it can be moved to. you provide the account, and the scam begins. you are asked for some processing fee etc…It is idiotic for you not to highlight that, and it is misleading for Mr mike Bonner not to blame his people and caution them. He didnt bcos he knows we have very uneducated, unpatriotic and very myopic media,,,,

  • ZIGGY

    And Nigeria loses over 1b$ to USA oil thieves

  • ZIGGY

    Nigeria loses over 1b$ to US oil thieves in 2012 alone

  • I3nyang

    This is a story of pots call kettle BLACK, American that complained Nigerian duped what was his or her ( American) intention to Nigerian, If American has decent business to investment in nigeria why the cannot do as other did in their country.Before register a business in America you have to go through State Department in America and do all necessary documentation.