Internet Fraud Deeper Than Just Nigeria (archived)

May, 2009    
News Archive

Eunexus' Global Review of Online Banking Fraud has shown that over the past three years African nations have featured heavily in global Online Banking fraud trends with Nigeria leading the pack.

Whilst in the past, Nigeria has been the most well known hotspot of activity increasingly other African nations in and around Nigeria including Ghana, Congo and the Ivory Coast are proving a cause for concern.

The increase in activity around Nigeria is further confirmed though Eunexus' custom built Internet Intelligence Systems identifying a significant spike in malicious behaviour from the West African region however a stabilisation of malicious behaviour originating from Nigeria.

Technical Director Benn Dullard announced "Historically a lot of online scams have been associated with Nigeria, such as the widely known Nigerian 419 scams. However, in a recent visit to Nigeria, Eunexus representatives met with banks and authorities, and viewed a concerted effort to tackle the problem by Nigerian law enforcement agencies, such as the Economic and Financial Crimes Commission (EFCC). This effort is slowly paying off and has resulted in a number of successful prosecutions, with the effect of pushing the fraud to neighbouring countries which may lack the framework to fight online fraud."

Eunexus is a specialist provider of Internet fraud and security products. Eunexus clients include many of Australia's largest banks and online trading organisations.

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