personal information: Personal information is the information that is used to identify a person, such as driver’s license numbers, social security numbers and bank and credit card information.
Ponzi scheme: A type of fraud in which new investors are used to pay old investors until no new investors exist and the scheme collapses. Investors are promised a high rate of return on an investment that does not actually exist.
predatory loan: A loan that is designed to take advantage of unwary borrowers by ignoring the borrowers inability to pay back the loan, leading to more indebtedness than was explained to the borrower and/or higher interest rates or fees than are legal.
pretexting: Getting personal information using deceptive practices through telephone calls or e-mails.
roper: The grifter who finds victims or marks.
scam: The deceitful, usually illegal process by which a person or persons acquire money or other valuables by lying to or cheating another person, business or organization.
shill: A person involved in the fraud and who is unknown to the victim.
short con: A con that is completed in a short period of time. Usually, short cons involve the grifter going after cash that the victim has on hand.
shoulder surfing: Watching a mark’s hands in order to get a PIN number or credit card number.
subprime loan: A loan that is offered at a higher interest rate to a person who would not normally qualify for prime rate.
swindle: See scam.
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