Nigeria’s notorious ‘Yahoo Boys’, online fraudsters named after the popular email service, are behind a surge in financial sextortion scams globally, according to Meta, the parent company of Facebook, Instagram, and WhatsApp.
These scammers, successors of the infamous 419 fraudsters, have evolved to exploit victims through financial sextortion, a borderless crime that has seen a significant rise in the US, with many scams traced back to Nigeria.
The scammers primarily targeted adult men in the US, using fake accounts to conceal their identities and coerce victims into sending money or sensitive information.
Meta has taken action, removing 63,000 Instagram accounts in Nigeria linked to financial sextortion scams, including a coordinated network of around 2,500 accounts tied to a group of about 20 individuals.
The company used a combination of new technical signals and in-depth investigations by its expert teams to identify and remove these accounts, demonstrating its commitment to combating financial sextortion and protecting users from these scams.
By leveraging its technology and expertise, Meta aims to stay ahead of these cybercriminals and prevent further exploitation of its users.
