by Mike Masnick
Mon, Feb 23rd 2009 3:06am
As the US government looks to take over a bigger chunk of Citibank, you might wonder what the bank has been doing with its money lately. Apparently, part of it was going to a slightly more ambitious than usual Nigerian 419 scam. The scammer and some colleagues tricked Citibank into believing they represented the National Bank of Ethiopia, that country's central bank -- and convinced Citibank to then transfer $27 million to accounts they controlled. It doesn't sound like the scam actually worked in the end -- as questions arose, and the receiving banks transferred the money back eventually. Also, the supposed mastermind behind the scam has now been arrested. But, apparently, 419 scammers have figured out that, given how well various banks have managed their money over the last few years, they're just as good as targets, compared to clueless spam recipients.
If you liked this post, you may also be interested in...
- Bogus Defamation Lawsuit Using Fake Plaintiff And Defendant Challenged By Public Citizen
- Another Court Says Law Enforcement Officers Don't Really Need To Know The Laws They're Enforcing
- As ISPs Push Harder On Usage Caps, House Pushes Bill Preventing The FCC From Doing Anything About It
- The SEC, Like Everyone Else, Didn't Believe Citi's Financial Statements
- SEC To Second Circuit: 'Please Don't Make Us Do Our Jobs!'