Identifying A Scam or Scheme Fraud

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.

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Comments 19 comments

Eric Musch 6 years ago

Scams are every where. Don't be a victim. Great article 6 years ago

watch out for scams thanks for the advice a great article a beautiful writer

anonymous 6 years ago

thanks for the awareness

DREAM ON profile image

DREAM ON 6 years ago

Such important advice. Sometimes the temptation is so great you don't think straight.We can all learn to help each other to prevent this from happening again.

anonymous 6 years ago

Great advice

anonymous 6 years ago

A great tip for everyone

Elly Mannings 6 years ago

Great advice.

Joy Dans 6 years ago

Great advice.

Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Thanks for your comment Joy Dans.

Elizabeth Jernigan 6 years ago


Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Thank you Elizabeth glad you enjoyed my article.

KoffeeKlatch Gals profile image

KoffeeKlatch Gals 6 years ago from Sunny Florida

Rhonda Waits, all too often the 'Get Rich Scemes' are a scam. They prey on the vulnerability of someone who needs money. I've fallen for a few. Great tips and advice. Voted up and useful.

Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Thank you KoffeeKlatch Gals for your comment. It is most appreciated. I write often about scams and schemes, hoping I can help someone else. Thanks again. Have a Great New Year.

W. K. Hayes profile image

W. K. Hayes 6 years ago from Bryson City, North Carolina

Hi Rhonda...great article...scammers come in all shapes and sizes. You have inspired me to write one about the subject from my own experiences

Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Thanks W.K. for your comment. Scammers do come in all shapes and sizes. Sometimes it's someone you know. I have had my experience with this as well. I am flattered that I have inspired you to write your own hub.

katiem2 profile image

katiem2 6 years ago from I'm outta here

Thank you for the help spotting a scam or scheme with modern technology and tools many scams are out there and it's easy to be drawn in by one. Thanks for the tips and heads up on schemes and scams. :) Katie

Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Thanks Kaie for your comment. It is true scams are out there. Sometimes they are right under our noses. I have my own experience. That is why I wrote this hub and others. Thanks for stopping by today.

Happy New Year.

Darknlovely3436 profile image

Darknlovely3436 6 years ago from NewYork

last year I got a check in the mail for $30.000 stating that i won it in a lottery, the check look real and all

however, it was scram to get me to send them $2000 dollars for them to send the rest of my money.

very informative piece

Rhonda Waits profile image

Rhonda Waits 6 years ago from The Emerald Coast Author

Darknlovely thanks for your comment. Schemers or scam artist,will try anything to get your money. If it sounds to good to be true,it usually is. I hope you shut those scam artist down. Next time call your FBI.

Wishing you many blessings.

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