Online Scams Up, Credit Card Hacks Down

from the worrying-about-the-wrong-thing dept

Everyone is always worried about having their credit card stolen online, but a new study says that might be the least of their problems. Plenty of other online scams are increasing, mostly in the auction fraud category, while stolen credit cards are decreasing. Also, if you happen to be planning to commit online fraud yourself, you should probably know that credit card thefts seem to give the lowest returns. You’re better off doing a Nigerian email scam, which has the highest payoff (amazingly enough). I guess, for that scam, you just need to find one rich sucker and milk him. Besides, it’s not like I’m receiving enough Nigerian email scam emails each day. I think we need a few more. The report also suggests that the increase in e-commerce fraud may be a boost to “brand name” online retailers like Amazon – who most people trust.

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Comments on “Online Scams Up, Credit Card Hacks Down”

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Anonymous Coward says:

my response for one I just got 2-nite

Dear Mr. Malo, I believe you and I had a precipitous meeting at the recent
Please write back if you remember our meeting and with the details for the
monetary transfer
—– Original Message —–
To: Sent: Saturday, June 07, 2003 10:40 PM
Subject: personal

Date: 03/06/08

Dear Sir,

I am Engr. Tambo Malo, a native of Cape Town in South Africa and I am an
executive Accountant with the South Africa Department of Mining & Natural
Resources. First and foremost, I apologized using this medium to reach you
for a transaction/business of this magnitude, but this is due to
confidentiality and prompt access reposed on this medium. Be informed that
got your enviable credentials/particulars from the internet.

I have decided to seek a confidential co-operation with you in the
execution of the deal described hereunder for the benefit of all parties
hope you will keep it as a top secret because of the nature of this

Within the Department of Mining & Natural Resources where I work as an
Executive Accountant and with the co-operation of four other top
officials, we have in our possession an overdue payment bills totaling
Twenty – Six Million, Four Hundred and twenty six Thousand U. S. Dollars
(US$26,426,000.00) which we want to transfer abroad with the assistance
co-operation of a foreign company/individual to receive the said fund on
behalf or a reliable foreign non-company account to receive such funds.
so, we are handicapped in this circumstance, as the South Africa Civil
Service Code of Conduct does not allow us to operate foreign account hence
your importance in the whole transaction.

This amount (US$26.426m) represents the balance of the total contract
value executed on behalf of my Department by a foreign contracting firm,
which we the officials over-invoiced deliberately. Though the actual
contract cost have been paid to the original contractor, leaving the
in the tune of the said amount which we have in principles got approval to
remit by Telegraphic Transfer (T.T) to any foreign bank account you will
provide by going through the Justice Ministry here in South Africa for the
transfer of rites and privileges of the former contractor to you.

I have the authority of my partners involved to propose that should you
willing to assist us in the transaction, your share of the sum will be 25%
of the US$26.426 million, 70% for us and 5% for taxation and miscellaneous
expenses. The business itself is 100% safe and risk free, on your part
provided you treat it with utmost secrecy and confidentiality. Also, your
area of specialization is not a hindrance to the successful execution of
this transaction. I have reposed my confidence in you and hope that you
not disappoint me.

Endeavor to contact me immediately through this email address, whether
not you are interested in this deal. If you are not, it will enable me
for another foreign partner to carry out this deal. I want to assure you
that myself and my partners are in a position to make the payment of this
claim possible provided you can give us a very strong assurance and
guarantee that our share will be secured and please remember to treat this
matter as a very confidential matter, because we will not comprehend with
any form of exposure as we are still in active Government Service and
remember once again that time is of great essence in this business. You
also contact me with this email address

I wait in anticipation of your fullest co-operation.

Yours faithfully,

Engr. Tambo Malo.

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