Use common sense to protect yourself from 'pigeon drop' scam - Action News 5 - Memphis, Tennessee

CLEVELAND, OH (WOIO/WMC-TV) - An elderly woman lost thousands of dollars after recently becoming the victim of a 'pigeon drop' scam.

In a pigeon drop, the scammer tells a victim he or she has found a large sum of money, and will split it if the victim puts up some money first.  Authorities say such scam artists are counting on you not thinking. Often, to gain your trust, they tell you to put up some "good faith" money, which they'll return when they split the big bucks with you later.

"When you're looking for something for nothing that's when people get conned," said the 86-year-old victim, who did not want to be identified.

The victim said she had just left the bank when she found a pouch with a wad of money and foreign lottery tickets inside.  The con artists told her that if she went back to the bank and withdrew some money, they 'de split what she found with them.

The woman was taken to three different banks to withdraw her money.  The crooks then told her that her cut of the cash was in a package in a store. It wasn't, but by the time she realized, they were long gone.

Authorities say the best way to protect yourself from a pigeon drop scam is by using common sense, and never trusting a stranger.

For more information on pigeon drop scams, click here: http://www.bustathief.com/pigeon-drop-found-money-scam/

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