You'd actually be be surprised at just how lucrative 419 scamming is! In 2006, Nigerian scammers laundered over $7 Million dollars from Queenslanders in Australia alone. That's ONE state of ONE country, so you can imagine how much they are making the entire world over!
These criminals make an absolute fortune, and I've personally come across Nigerian scammers who generate 10-30K every few months. This is in spite of the crappy-looking identifications cards/documents, despite the bad English spelling and grammar, and despite the abundance of sufficient information available on the Web warning people about these scams. A quick Google turns up tons or results. Yet, every year scamming becomes more and more profitable for the scammers as they continuously find more and more victims.
Believe it or not, they also do scam their fellow Nigerians (and other West Africans, both scammers and non-scammers alike). I have seen one Nigerian scammer offering visas and greencards to the USA by targetting only other Nigerians. I have also seen Nigerian scammers purporting to sell hacking and password cracking software and then bulk mailing the fake advertisement to other known scammers in hopes that other scammers will send him money to buy these non-existent tools.
In fact, one of the funniest ways to bait a scammer is to act like a rich, gullible victim and pretend to send him money via Western Union when he asks. While the scammer is waiting for you to send him the MTCN number, you write him an email from another address (in Nigerian Pigdin for authenticity), pretending to be a rival scammer. You tell him that you know about the scam he's pulling, and that if he doesn't split the money 50/50 you will "spoil his job". It can be even funnier to quote his share as something much lower, like 70/30, and watch him seethe with anger but try to maintain his composure (albeit badly) for the sake of keeping the deal afloat.

Sometimes this tactic can be used to great effect to get the scammer to jump through hoops. It's funny too, because you can play him off between your fake victim and your fake scammer characters, like a tennis ball! Of course, after about 2 weeks of delays, the fake scammer always collects the entire payment and disappears -- leaving the real scammer empty-handed and frustrated. Then you start the process all over again and add a different twist each time that prevents him from getting his hands on the loot! The ultimate aim of many scambaiters is to receive death threats from the scammer (often hilarious due to the combo of bad English and the creative imaginations of the scammers). And if you're really good, you'll get a Voodoo curse placed on you. The juju is like the ultimate prize in knowing you have pissed a scammer off to the highest degree possible. It's much sought after!
West African scammers like to convince themselves that colonialism is their justification for "targeting westerners". But anyone with an ounce of common sense can see that's plain bullshit. In reality, these scammers will target absolutely anyone who replies to their email, as long as it means getting money out of them. Some baiters have even performed morality tests emailing scammers from the most unfortunate kind of victims possible to see if the scammer would show any compassion and drop the scam if he knew he was dealing with a terminally sick person or a child needing life-saving surgery (where sending the money to the scammer would mean the difference between the victim being able to afford treatment or dieing). In all such cases, the lowlife scammers continue with the scam without any regard whatsoever as to how it would affect the victim's life. In fact, they happily tell the victim to go ahead and send the money because they'll be able to afford the treatment after they receive the multi-million dollar consignment. Believe me when I say that there's absolutely NO depth that this scum will not sink to in order to steal money.
Anyhow, to comprehend how people can fall for these scams, despite all the evidence staring them in the face that they're dealing with a fraudster, one needs to look at the type of people who become victims, and why. Smart scammers (and yes, there are some very intelligent ones out there too) know their game well and can be the biggest threat as they are very hard (but not impossible) to bait. Savvy scammers learn to target certain demographics by adapting the tactics they know will work:
1. New Internet users: People who are new to the online world and believe that every email sent to their newly opened email account MUST be legit.
2. The elderly: Generally, older folks are more trusting, they have money saved up and thus make easy targets for scammers, particularly if they're also new Internet users.
3. Foreigners from countries where English is not the main language: A growing number of native English speakers are cluing into scammers' (generally) poor mastery of the English language, and this makes potential Western victims twig, wasting the scammer's time. Some scammers realize this and, instead, target citizens of other non-English speaking countries. This way, the victim is forced to speak in English with the scammer, and there's a double language barrier in place (i.e. two non-native English speakers communicating in English). In such cases, the chance of spelling mistakes and grammar errors on the scammer's part is likely to go unchallenged by the victim. These foreign victims are also generally very poor, so the scammer's implication of a huge multi-million dollar windfall means these particular victims will be very likely to pay (if they can scrape the money together from their family and friends).
4. Desperate People: People suffering severe financial hardships, going through divorce settlements, or with steep medical bills due to an ongoing sickness (or caring for someone with such a sickness). These are probably the most pliable type of victims for scammers. They know that they can exploit them the most, because they
know that they can play on their vulnerability and turn the scam in their favour that way. Once the scammer acts like a friend and probes into the victims life, he's able to groom the victim which makes them trust and open up to him. The scammer tells the victim that everything will be okay once they get the millions of dollars he has to offer and urges him to finish the transaction. These victim types frequently lose upward of 50K (sometimes ranging into the hundreds) and often end up committing suicide.
5. Check Mules: People who the scammers recruit with a fake job offer. They claim that the position is to work as a "payment officer" accepting customer's payments. The scammer sends the victim a fraudulent check, tells the victim to deposit it in his bank account, keep 10%, and then forward the rest to the scammer via Western Union (untraceable once it's sent). When the authorities eventually trace the paper trail back, the laundered money leads directly to the victim's bank account. The victim goes to jail, since all he has are tales (but no proof) that some phantom, nameless scammer made him do it.
5. Otherwise intelligent people who are irrationally blinded by the money: Some other types of victims who fall for the 419 scam are truly surprising. People like doctors and lawyers who are usually deemed intelligent by their social standing in life, but not necessarily "street smart" occasionally fall for this scam.
The authority site on 419 scambaits is
419 Eater. Baiters there have made scammers do some absolutely crazy things over the years. They have made them travel to different countries, get lost in the Sudan searching for treasure, get tattoos with PWNED across their back, and even
hand-write Harry Potter and the Chamber of Secrets from beginning to end. They are constantly raising the social-engineering bar there!
Two of my favourite scambaits are:
The Road to Nowhere: Extremely entertaining with some excellent psychological twists that really screwed these scammers over. It's also a rare case where there was a white scammer working with Nigerian associates.
The Great Penis Caper: If you're not roaring with laughter by the end of this one, you've probably had a lobotomy. Fair warning: this one contains some male nudity, so if you don't like the idea of seeing disrobed Nigerian scammers (or if you're at work), don't look.
EDIT: Oh yes, and Erpy's right. I did do something very evil to one of these scammers, but unfortunately I can't post the results publicly online!
