The card aiming to end Nigeria’s fraud problem
Nigeria has a bad reputation when it comes to fraud.
“Dear Friend” emails originating from the country – also known as 419 scams – are among the most notorious in the world, with statistics from Ultrascan AGI suggesting losses from such schemes totalled $12.7bn (£8.2bn) in 2013.
And the number of scams is growing by 5% each year.
“Nigeria certainly has a problem,” says Cormac Herley, principal researcher at Microsoft Research, who has looked in detail at 419 scams.