Con Artists

I tend to think that the dangers posed by widespread fraud are underappreciated by most Americans. It is a crime that undermines the basic atmosphere of trust and mutual respect that allows a free market to operate. It is only more pernicious, and more disgusting, when purposefully targeted at those least able to detect and protect themselves against fraud or its consequences: the elderly.

MSNBC has two very interesting articles posted concerning frauds perpetrated by con artists: one focused more on phone fraud, the other on the general fake sweepstakes phenomenon. This has been an ongoing problem for years, but it is something I thing everyone should educate themselves about, and make sure their friends and family (especially older relatives) are aware of. Some key points:

Many cleverly-designed sweepstakes entries are really just a fishing expedition by con artists. Fill one out, send in the money and criminals know you are gullible. Your name and contact information land on what's known in the business as a "sucker's list," and it's sold over and over again to con artists.

What follows is a deluge of fraudulent telemarketing calls, almost always from Canadian-based con artists. If you'll pay $10 for a dream, the thinking goes, you'll probably pay $100, $1,000, or $10,000. Sometimes even more -- much more. Federal investigators say fraudulent sweepstakes entries have reached near epidemic proportions, particularly among the elderly.

Further tips:

If someone you know seems to be getting an unusual amount of sweepstakes, lottery and investment offers in the mail it's your best clue they either are or are soon to be targeted and already under the spell of phone gangsters. Some people end up getting hundreds of pieces of mail just in a week's time.

Phone gangsters always give their victims reasons why they should not talk about their prize winnings, tax payments or any investigations with anyone So if you suspect a loved one is under the spell of these criminals, just asking them may not be enough. And looking at their checking account may not provide clues either. Conmen often ask the victims to get cash and wire it or send cashiers checks.

If anyone calls asking you to send money for prize winnings or secret investments, hang up immediately. The more time you spend talking with these men, the more chance you have of being duped. They are often highly skilled conmen who will pursue you relentlessly if you give the slightest indication you can be engaged.

Don't let yourself or anyone you care about be scammed by these crooks.