.CM is the country code top-level domain (ccTLD) for Cameroon.
Was there some sort of scam that involved the .CM domain recently?
Yes. In August 2006, it was reported that the .CM registry had set up a wildcard DNS record, so that all unregistered domains in this top-level domain go to a parking page with paid search links. This was likely intended to take advantage of typographical errors by users attempting to reach .com web sites.
Is it safe now to register a .CM domain name?
Yes. A new registry has been put in charge of .CM domain names.
Source: http://en.wikipedia.org/wiki/.cm
Can I transfer a .CM Domain
Yes you can transfer .CM extensions between accredited registrars using the standard EPP Authorization Code.
Is auth code required for the transfer of domains between registrars?
Yes if you want to transfer IN right away, all outbound transfers are instant.