June 5, 2008
Scam artists have recently taken center stage on LinkedIn, a social networking site for professionals. Reports indicate that scammers have eyed the lucrative membership base of LinkedIn since these miscreants are fully aware that they are no longer dealing with mere teenagers but grown-ups with money.
The scam techniques are notably old and well-known as 419 scams or advanced fee fraud to email users, but it seems they have been relatively successful in social networking sites. Users have placed enormous confidence in the security provided by social networking sites that many fraudsters in turn, have taken advantage of extorting information from unknowing users.
Scammers use the old trick of posing as a foreigner looking for a business partner to handle or secure a large amount of money in a private bank account?be it in a form of an inheritance or some dubious investment. The victim need only give access to his/her bank account and withdrawals are then made instead of actual deposits.
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