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This community has been hunting down scammers for quite some time, and the work they do is phenomenal. They even offer to mentor newcomers to teach people the art of scambaiting. Two enthusiastic thumbs up!
I heard about this website on an episode of This American Life called The Enforcers: http://www.thisamericanlife.org/radio-archives/episode/363/enforcers
The purpose of the website is, I think, to empower people and for folks to share their scambaiting stories. There are letters, FAQs, a hall of shame, tips, a trophy room, a pretty active forum, etc. Some of the stories make me actually feel bad for the scammers (such as the one told on This American Life) so I'm not terribly keen on spending too much time on 419eater, but it's interesting that it exists.
