Quick monetary reward is what “yahoo-boys” have in mind. Sending fraudulent messages to online dating websites and social network sites were reported to be low-risk – but high-profit – areas of specialisation.
A third-year student said to me: I started online fraud in my second semester of 100 level [a session comprised of two academic semesters in Nigerian universities] as an impostor via online dating.
These cases attest to the pervasive nature of internet fraud in Nigerian universities.
My own research was conducted at Nigeria’s premier University of Ibadan.
This is because the fraudster would have used a foreign name and would not have a recognised identity card in that name.
For successful execution of fraud, an insider within the bank is important: the banker facilitates payment without attracting the attention of security agencies. The instability in the Nigerian banking sector may have created an uncommitted workforce.
Then I looked for the profile of people that live in developed countries.
Nicknamed “yahoo-yahoo” after the international web portal and search engine, this perfidy has become a way of life for the young con-artists.Hitherto, internet fraud was carried out at public cafés.However, with regular raids on these internet cafés and the arrest of suspected fraudsters by the police, the “yahoo boys” have simply moved their bases.A fifth-year student stated that the fear of the unknown may have attracted a number of students to “yahoo-yahoo” rather than waiting for after-school unemployment.They see internet fraud as a creative outlet in a country like Nigeria.
The common means of collecting fraud money in Nigeria is through the banks, mostly through the Western Union money transfer.