Video: Scam Speak

Added November 15, 2007

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Summary: Crooks and scam artists who commit identity theft use some common phrases, also known as "Scam Speak." If you know what to listen for you can avoid getting ripped off, even if the scam speak is top notch.

Video Transcript: Video# 00007

On Cam

I'm Ilyce Glink with Expert Real Estate Tips dot net.

You know con artists, scamsters are really good at getting the information they need to commit identity theft. They'll tell you things that you want to hear. They'll say it in a way that sounds good to your ear.

But what they're really doing is something that the police call scam speak. It's actually the language of scams.

Track

How do you know you're being scammed? There are a few time tested techniques crooks use to part you with your money. Here's the first.

Just wire the money. With so many ways to pay electronically it's a wonder that Western Union is still in business but with wire transfers there is no way to stop payment once made. Crooks like that.

Next, cash this check. Fake cashier's checks abound. People use them to buy cars from unsuspecting owners or to pay for large items bought at auction.

It takes up to two weeks to figure out a cashier's check is a fake and by then your stuff is gone.

Anytime someone you don't know writes or calls you from a foreign country with an easy money proposition or an inheritance of 10 million dollars that's been left to you, it's a scam, whether the email comes from England, Nigeria or Latvia.

If someone says to you I can guarantee you a return of 10 percent it's a scam too. No one can guarantee the return on an investment, not even the titans of Wall Street.

On Cam

Remember, if the deal was really that good, why would the con artist be calling you? Heck, they might not even tell their mother.

With more personal finance and real estate information visit my Web site, Expert Real Estate Tips dot net.

See more articles on this topic by clicking on the "RELATED ARTICLES" above and to the right.

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