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Advance fee fraud “419” and investor confidence in the economies of sub‐Saharan African (SSA)

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  • Edward Fokuoh Ampratwum

Abstract

Purpose - Though many articles have been produced warning people of the inherent dangers of responding to this fraud, very little work has been done on the impact of the advance fee fraud on investment and overall economic development of countries in sub‐Saharan Africa. This paper aims to examine the nature and causes of the Nigerian “419” fraud. Design/methodology/approach - Besides, underscoring the role of the political and historical situation of the sub‐region in exacerbating the fraud, the paper situates the discussion within the broader context of organized crimes perpetuated by Africans in Africa or elsewhere in the world. Findings - A relationship exists between crime rate and development and thus there is a need for transnational collaborative efforts in controlling and preventing these crimes. However, the gap between the economic fundamentals and investor confidence is puzzling. Originality/value - The paper examines the link between perception of crime in Nigeria and Africa as a whole and the rate of investment flow to the continent.

Suggested Citation

  • Edward Fokuoh Ampratwum, 2009. "Advance fee fraud “419” and investor confidence in the economies of sub‐Saharan African (SSA)," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 16(1), pages 67-79, January.
    • Handle: RePEc:eme:jfcpps:13590790910924975
    DOI: 10.1108/13590790910924975
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