Prepare your scambaiting personna before you start the scambait (name, address, phone, etc.) - this will prevent you from making mistakes that will give you away later to the scammer.
Use a free email account for your scambaiting - Yahoo, gmail, Hotmail, Live.com, etc.
Don't give scammer any real information - for obvious reasons...
Address Information - I use a fake address nearby (city that is close by), just in case they trace my IP Address.
Phone Information - Do not give them your home or work number! Use k7.net (for messages) or a cell phone - I use a number that always rings, then make some excuse why I never answer (at work, store, etc.).
Make a fake ID to use - it doesn't have to be perfect - a scammer doesn't know what a real ID looks like. The scammer will almost always ask for an ID - if you don't send them one the bait may be over. ***Note*** Many scambaiters will warn against this - that you are helping a scammer by giving him a fake ID to use. It's your choice - you may want to use a fake name in the ID that any westerner would recognize as fake (Harry Buttkrack, Phil McCrakin, Anita Spermbath, etc.).
Flight Schedules - when you are trying to convince a scammer that you are traveling to his country, you can use Orbitz or Travelocity for the flight details.
Most scambaiters suggest setting up a "catcher" account to receive scam emails, and a "baiter" account to carry on the bait. This is sound advice, but not always necessary - you can actually copy a scam email you find on the web or bulletin board, and paste it to a new email to "reply" to a scammer. They send out so many emails, they will never know that they never actually sent an email to you.
Scam bait with your eyes wide open - remember, these are criminals you are dealing with and everything that comes from their mouth is most likely a lie. In the course of the scambait, you will be cussed out, issued death threats, voodoo curses, etc. Scambaiting is not for the Faint-of-Heart..
One Source Talent scam baiting
Make their lives difficult! Remember, they will have certain documents already prepared, so ask for other documents as proof. They will send you a "Certificate of Deposit" for a bank account - ask for a current Account Statement instead. Explain that a Certificate of Deposit only shows what was deposited in the account years ago, but not what is in the account now. They will waste valuable computer time making a fake, silly-looking document...If they send you a Passport ID, ask for a Driver's License and vice versa. Notice that the picture on both is usually the same...
Ask many stupid questions and make sure they answer every question you have. They will try to stick to their script - get them off it.
Poke holes in all of their ideas, theories, and routines. The typical scammer knows nothing about business or banking, so correct them, question them, suggest other methods, etc.
Question every spelling error - even if you do understand what they meant. This will also waste their valuable time.
Insult the other characters to the main character (probably the same person...) - it usually takes me two or three emails after I am "introduced" to the lawyer to tell the client what a moron the lawyer is.
Point out all of their mistakes - I don't know how many times I received an email from a scammer who signs it with the wrong name. I am presently involved in a bait right now where the girl in the refugee camp (Paulina) complained about being there, she's sick, hungry, abused, etc., etc., and then signed it Linda. I said, "Yeah, you must be in dire straights because you seem to have forgotten your own name...".
Trace their IP Address (you can use www.ip2location.com) and ask them why they are emailing from Nigeria when they are supposed to be in England...
Inspect all of the documents that they send you carefully and have them correct every mistake. Most of the time, these documents were not designed by the original scammer and they don't have the ability to edit them (jpeg image or pdf).
Scammers are constantly getting their free email accounts shut down. Don't let them get away with this without a fight! I like to tell them 'that I contacted Yahoo when the mail came back undelivered, and Yahoo said the account was shut down for fraudulent activities' - let's see them explain that one!
When a bait starts to peter out or if you haven't heard from the scammer in a while - send them a message 'that you sent the money via MoneyGram, did you get it yet'. Nothing revives a dead bait like the promise of money! Take the Hard Line Stance with the scammers - I do admit that I lose some doing this - but if they don't comply with your every wish and answer every question, tell them 'Nevermind, I am not interested in doing this anymore' - you will find it hard to get rid of them and often, they beg you to take them back!
The Kiss-Off - this is my favorite - where you are sick of the scammer or are beginning to lose them. Call them every name you can think of, be vulgar, insult their children, parents, country, religion, race - whatever it takes to piss them off!
One of the best insults to a scammer is if they think many people are laughing at them (i.e. - "my friends and I laughed at how stupid you are...").
Never, ever let them get in the last word! Remember, one of the main goals is to keep them busy - if they keep replying to your insults, they are not scamming someone else!