The Pigeon Drop Scam

According to the Identity Theft Resource Center, there’s a new scam out there specifically targeting senior citizens. They’re calling it the “pigeon drop scam.” At the heart of the theft is a fake investment scam.

Here’s how the scam works:

A couple of thieves head to a busy parking lot, usually at a grocery store or shopping center. One of the thieves finds a senior citizen and approaches them with a wad of cash. “Would you like to make an investment or donation?” At that moment the other thief pops up and pretends to not know the initial thief. He then hands the first thief some money and says he’s excited to invest. The idea is that this second thief will make the senior citizen feel more comfortable giving their own cash to the “investment.”

As soon as the senior citizen hands over their money, the thieves make a run for it.

If you’re a senior citizen or know one, it’s important to remember that a legitimate investment opportunity isn’t going to fall into your lap in a busy parking lot. Hold onto your cash.

Protect Your Identity

But these types of fake investments aren’t limited to parking lot scams. They happen on the internet everyday, often through email scams. What’s worse, investment scams on the internet aren’t limited to stealing the cash in your pocket. They can steal your identity and ultimately find access to your credit card information, social security number, passwords to electronically stored information, etc.

It’s important to protect your identity with a solid identity theft protection program. First, take steps to protect your identity for free. Then consider purchasing a respected identity theft protection service, such as Identity Guard.