Many people, in trying to cash in on the millions of dollars promised in the Nigerian schemes, find themselves stealing to fund their investments. Unfortunately, more people are prosecuted for stealing from others to participate in the scheme than for perpetrating the scheme itself. In New Hampshire, Charles Brewster, 51, pleaded guilty to embezzling $73,000 from companies with which he was associated. The money, plus the funds obtained by forging a $120,000 check, was to be invested in a Nigerian oil con. Brewster was convinced the scheme was legitimate. Early in 2002, Shirley Elaine Hangings responded to the 419 schemes by spending her life savings of $30,000 to $70,000 and then passed a bogus check for $228,260 to fund any deficiency. She was sentenced to 16 months in a California state prison. And a law-firm bookkeeper, Anne Marie Post, 57, was charged with embezzling $2.1 million from her Detroit-area employer. She believed that she would receive millions from an official with the Ministry of Mining in South Africa.
According to Wired, statistics presented at the International Conference on Advance Fee (419) Frauds in New York on Sept. 17, 2002, show that approximately 1% of those who receive 419 E-mails (and faxes) are fooled and eventually scammed.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of September 25, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."