Yahoo boys introduce Trader-moni SMS as another method to defraud Nigerians

* The Trader-moni fraudulent SMS is of two-fold, Report has uncovered

By Obed Chuks

The internet fraudsters popularly known as yahoo boys are using a variety of cyber fraud methods in an attempt to defraud people.

These methods include online dating which involves sending fraudulent messages to online dating websites and social network sites.

Another scam popular with the yahoo boys is ’phishing’, a technique being used to acquire sensitive information such as usernames, passwords, and credit card details.

The “yahoo boys” are also big on ATM fraud. They may stand at ATM galleries to feign assistance to vulnerable users – illiterates, the old and the physically challenged – and later swap cards to defraud them.

Starnews reports that the most recent method been used by these miscreants is the latest act of sending customised TraderMoni SMS to Nigerians on behalf of the federal government in an attempt to defraud their target.

Starnews correspondent who received such messages yesterday said the text is of two-fold.

Starnews gathered that the first fraudulent text message is to convey the federal government’s alleged approval of the supposed tradermoni scheme to their target on the first day.

The format of the first message as sent to one of our correspondents by text reads:

Read full story here http://www.starnews.com.ng/yahoo-boys-introduce-trader-moni-sms-as-another-method-to-defraud-nigerians/

you forgot to mention the technique that birth the term'yahoo boy'.
.you will recive an anonymous e-mail message from and unidentifiable personality claiming to be stranded and devastated due to natural disaster or war in his/her(mostly a lady) country/region. she will then ciaim to have an asset/inheritance from her father in a foreign bank or security company. which she is unable to collect due to her present circumstance, she will then urge you to stand in for her, promising you a share of the property. if you foolishly concede, she may request a sensitive information about yourself. or refer you to the company in charge of the property. which will then fullfill the!r mission by asking for shipping money or any other money as the case may be. this type of scam originate from nigeria and all activities take place through the use of e-mail, and i guess that give birth to the term 'yahoo boy'.
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