Magazine article Insight on the News

Beware: The Internet Can Be Dangerous to Your Wallet. (Nation in Brief)

Magazine article Insight on the News

Beware: The Internet Can Be Dangerous to Your Wallet. (Nation in Brief)

Article excerpt

This news may come as a terrible shock to those who view California as a glittering jewel at the summit of our culture (in other words, for those who share that state's self-image), but the place appears to be crawling with scam artists. According to a study just released by the National White Collar Crime Center and the FBI, California is at the top of the list as home to individuals and businesses committing Internet fraud. Florida comes in second and New York third. The rankings are based on reports to the Internet Fraud Complaint Center (IFCC) last year.

More than 42 percent of the complaints involved Internet-auction fraud. Incredibly, more than 15 percent of the complaints involved the notorious "Nigerian letter scam," with individuals who actually put up money suffering median losses of $5,575. This scam has been mentioned several times in nation in brief and warnings are widespread elsewhere. It's a get-rich-quick scheme that almost radiates deceit, inviting the sucker to get involved in recovering a huge cache of ill-gotten gains in exchange for a bit of up-front earnest money. …

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