Coming from the Latin word Abduco -- To lead away. Is act of taking a person (usually a child) away from their normal life to either a) use him/her as an incentive for ransom money. b) use them for sexual pleasure. c) sell them on the black market as a sex slave. or d) to brag to your friends that you really can get away with anything.
The second use: Taken by aliens to be "tested" upon, in which you are either probed, or forced to masturbate in front of them. Occasionally this folk tale is use to seduce the other males in the bar you are talking to.
a) Mom: "They said if we give them $10,000 they will let her go."
Dad: "We could adopt for cheaper...."
b) Jaycee Dugard
c) Movie "taken"
d) The Diehard father who never wanted to leave his kids and was willing to do an abduction to get them back, for his ego and his kids.
Phil: Last night man I was.. was.. abducted by Aliens man! they took me up in there ship and tested me with probes and other shit!