Identifying A Scam or Scheme Fraud

Identifying a scam or scheme fraud What is a scam or scheme? A scam or scheme is used to con someone out of money. Scams or schemes take on fraudulent or bogus offers to con you out of your hard earned money. A offer that's to good to be true. Each year millions of people fall victim to scam artist. The scam artist may contact you with a fake lottery win or a prize from a sweepstakes. If the say you have won but you have to send money to get your prize , then its a scam. Hang up your phone. If you have caller id block the caller or don't answer the call anymore. You have just been approached by a con artist. These people are really smart at what they do. Remember you are not their first or will you be the last. Get rich quick schemes are more common around the Holidays. Con artist depend on your vulnerability to get your money. They will try anything and everything to get your money. Don't go on a sucker list.

Recently their was a big bust in Minnesota for mortgage fraud. A total of 1.215 were involved around the country in this mortgage scam. The name of the scam is Operation Stolen Dreams.

To this day 36 people involved have been busted. This case involved more than 2.3 Billion in losses. The US has engaged in civil enforcement action to recover 147 million in the operation. This is just one scam that want go unpunished. Their are others out there that are yet to be stopped. Schemers are out of business on this one. The ring leaders were Tran and Ngo. Ngo would target clients with great credit and do a bogus mortgage loan. The loan would get approved and they would get a kick back but they wouldn't rent out the properties and pay the mortgages back for the client. This was the job of Tran and Ngo was to find these clients to make the operation work. Go to the web site and read this for your self. It will open your eyes. Most envolved have been sentenced some have not. Ngo is still waiting for his sentence to begin.

The elderly are vulnerable this time of year as well. Sometimes they are socially isolated or may suffer a mental illness like dementia. Keep a check on your elders to make sure they are not a victim of scams. Victims end up losing their life savings in most cases. Never give out your personal information over the phone.

Don't be a victim. If you smell a rat bait the trap and call the police. Teach the cons a lesson, don't let them win. Shut them down. Pass this a long to everyone you know maybe this will help.