This is a rush transcript from "The Five," July 11, 2013. This copy may not be in its final form and may be updated.
DANA PERINO, CO-HOST: All right. Anybody who tweets, e-mails or texts is probably familiar with phrases like OMG or LOL -- unless you are Bob.
But a web safety group is warning parents to familiarize themselves with some other Internet slang to make sure that their kids aren't in harm's way. A new study found that only 8 percent of moms and dads know what LMIRL which means.
Do you what that means?
BOB BECKEL, CO-HOST: Yes, let's meet in real life.
PERINO: Let's meet in real life, which is a phrase commonly used by predators who encourage strangers to meet up with them.
How did you know that, Bob?
BECKEL: I'm familiar (ph) with this stuff, are you kidding me?
KIMBERLY GUILFOYLE, CO-HOST: Can I tell you? I didn't know that.
PERINO: I did know that. I set him, but I did it on the fly which means must be the two-year anniversary. We're getting used to this.
OK, let me ask the parents in the group. Your son is a little young to be online and on e-mail, right, Kimberly?
PERINO: OK. But yours are not. How involved do you think as a parent you should be and actually can you be?
ERIC BOLLING, CO-HOST: OK. So, I think you should be completely involved. I think you should have passwords to Facebook and Twitter, all of them. All them, but you don't.
Once you have that they move on to the next one. Whatever the next one.
PERINO: You don't know even what that is.
BOLLING: It goes on and on. Instagram.
Let's Meet In Real Life concerning. And YOLO -- You Only Live Once. And when you put those two together, Let's Meet In Real Life and You Only Live Once, you've got to be very, very careful.
I learn a lot from my son. He uses these things all the time like GTG -- Got To Go. I don't know --
GUILFOYLE: I don't know any of this --
BOLLING: You will.
GREG GUTFELD, CO-HOST: You want to hear one?
PTBMFTSOTW, that's -- Prepare To Be Mocked For This Segment On The Web.
GUTFELD: I find this whole idea a bit disturbing, because as you know, I counsel teens on the web as Dr. Smooth Hands. And I just tell them not to drugs --
BOLLING: Eighteen and above.
GUTFELD: Yes, if I tell them not to do drugs and this -- but people say why do you have to do this. Because I like to give.
BECKEL: Well, that's very nice of you.
In my kids, they send the pictures around. (INAUDIBLE) there are pictures, I like at those carefully. A matter of fact, somehow I look at for a long time.
GUILFOYLE: Oh my God!
PERINO: What? Bob!
BECKEL: So I can get it to make the point. You know what I mean? You have to make a point.
BOLLING: What do you mean you look at it for a long time?
BECKEL: I want to explain to him that you can't do this, this and this.
GUTFELD: There are certain things you shouldn't be doing. Let me show you some more.
PERINO: Let me go to Kimberly. (INAUDIBLE)
Here are some rules, let me see if you agree with this.
GUILFOYLE: OK, go ahead.
PERINO: These are some rules that we get from Net Speak.
So, you are supposed to supervise the use of the child's Internet enabled activities. You know what they're doing and what their friends are doing. You should discourage web cam use. Supervise the posts and check privacy settings.
Somebody quoted in the article that was in The Daily Mail said, that they didn't want to infringe on their 6-year-old's privacy rights. That's why they didn't.
Why is your 6-year-old online anyway?
GUILFOYLE: That is so ridiculous. Honestly?
See, that's the problem right there. How do you say a 6-year-old should have privacy rights? They're just forming, they're like jell-o that has to be molded and shape and taught.
BECKEL: How many of those things do you do? The list of suggestions.
GUILFOYLE: Probably all of them.
BOLLING: Guilty of not doing enough of them.
PERINO: But I have to say --
GUTFELD: I have another Internet slang.
GUTFELD: SHAVOYH -- short host and vodka outside of your house.
GUILFOYLE: Is that you?
BOLLING: I thought you were inviting Dana for a drink?
PERINO: I do, too.
I'm kind of surprised that I'm getting this offer on air.
BECKEL: This is serious. This is a lot of serious stuff that goes down in the Internet.
PERINO: Yes, Bob, you are taking it so serious.
BECKEL: I take it seriously. I do. LOL.
GUTFELD: OK, a serious point. There are kids that aren't outside anymore so they reduce their risks for accidents that they are probably safer inside. But then there are these things happen on the computer. Parents have to be observant of that. But you don't want to go crazy and tell everybody there are evil predators everywhere.
PERINO: No. And also, actually, I think parents today have better tools
to keep track of the kids than my parents had.
GUTFELD: Do you let your dog use the web?
GUILFOYLE: You know what? You should have cameras -- first of all, yes, monitor the web cam. Teenagers, people that are doing things with the web cam, with these strangers and transmitting images of themselves very bad stuff going on. I think you should have cameras in your house.
BOLLING: Kids don't really realize this right now. We are in an age where everything that hits digitally is an imprint for the rest of their lives. You have to let them know, that the pictures that look like fine in whatever or out of whatever, will stick with them forever and they are young and they're impressionable.
BECKEL: Also put a marker on their car, which I did both my kids. They don't know where it is. I can follow them wherever they go.
GUILFOYLE: Yes, but you told them, and then, now, they know.
BECKEL: No, they can't find.
PERINO: If you are a parent and you are concerned, you want to learn more, you can go to noslang.com. It's got 25 Internet slangs that all parents should know. And they're not as good as the ones that Greg brought to us, which we really --
GUTFELD: No, I'm saying Internet slang is not the danger is what I'm saying. It's lack of attention.
PERINO: It's not a weapon.
BECKEL: We have to go. We have to go.
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