There's nothing to fear but fear itself.
Franklin Roosevelt

Number 1
Bogeyman

Origin
Homegrown

Description
You know the story. You're 4 year old and hate going to bed. And you bitch about it. Sooner or later your mom threatens you that Bogeyman will come and take you. However since she hasn't seen Bogeyman, she has to improvise. And since imagination is a powerful ability of the brain, the Bog gradually encompasses all our fears until he becomes the fear itself.

Area of expertise
Bogeyman or Torbalan or Bubak or Babaroga (it's a long list) loves to scare children. When that doesn't quite satisfy him, he hurls them into his bag. Usually they never get out of it. He tends to work at night. He sleeps under the bed, in the closet, in that dark corner of the room, in the basement and everywhere else where you prefer not to be.

Current status
For more information, check the basement after midnights with the lights off. As for me, I heard him 11 minutes ago, I think he's still around.

Final note
Try not to scare the shit out of your children, when you first tell them about Bogeyman. Damage could be deep.