Internet Fraud is the use of internet service or software with internet access to defraud victims or to otherwise take advantage of the victims. internet fraud can occur in chat rooms, e-mail, message board or on website.

HISTORY OF INTERNET FRAUD IN NIGERIA

Internet fraud in Nigeria can Also be called Nigeria 419 scam. The number “419” refers to the article of the Nigeria criminal code dealing with fraud. Historically, the Nigeria 419 scam is a form of advance fee fraud that is similar to the Spanish scam that dated to the early 19th century. In Nigeria it was in the early 1980’s during the hyper-corrupt second republic governed by president shehu shagari that the modern 419 scam became popular in Nigeria national petroleum corporation.

I want to transfer $20 million to your Bank account. The money I want to transfer was budgeted but was not spent. In an exchange for helping me to transfer this money out of the country, you will get 35 percent of the $20 million. The scammer demanded of receipts bank account numbers and other personal informations.

The spread of e-mail harvesting software significantly lowered the cost of sending scam letters via post mail in Nigeria. In 2006, Nigeria rose to become the highest African country with internet fraudster. Globally Nigeria is ranked 3rd and 1st in Africa and such has earned Nigeria a reputation as the centre of e mail scammers in Africa.

Africa and such has earned Nigeria a reputation as the centre of e mail scammers in Africa.

TYPES OF INTERNET FRAUD

There are different types of Internet fraud in Nigeria. They are purchase frauds which occur when a criminal approaches a merchant and proposes a business transaction and also uses fraudulent means to pay for it.

Other types of Internet fraudster are the online automotive fraud. In this, a fraudster will post a non-existent vehicle for sale to a website. The details of the vehicle including photos and description are typically lifted from the sits. An interested buyer emails the fraudster who responds by saying car is available but is located in a country but the car is with a shipping company and instructs the buyer to send a deposit or full payment through wire transfer.

The third internet fraud is called online action and retail schemes. In this type of Internet fraud, the fraudster starts an auction on a site such as eBay or trades me with very low price. The fraudster accepts payment from the auction winner, but do not deliver the promised goods.

The fourth internet fraud is the paypal fraud. In the paypal fraud the scammer targets eBay auctions that allow the purchase to personally collect the term from the seller, the scammer uses fake address with a post office box when making their bids.

The sixth type of Internet fraud is called business opportunity or work at home scheme. In business opportunities that allows individual to earn thousands of dollars a month in work at home ventures. These schemes require individuals to pay nominal to substantial sums for the business plans or other materials or provide adequate Information to make the business valuable. Other types of Internet fraudster are money transfer fraud, dating fraud, and charity fraud . E.T.C

In conclusion, in order to move the country forward, the government should create an agent and strong measures should create an agent and strong measures should be used to curtail internet fraud in Nigeria.

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