You can determine ICO's with the following parameters
(1). Concept of the project: Any project solving no genuine problem should be avoided.
(2.) Use case: Any project without a real use case will definitely turn useless in near future.
(3). Business model: A project ought to have a well defined business model.
(4) Team and Advisors: Any project without a team and/or Advisors should be examined very closely.
(5). Whitepaper: Most fraudulent project don't always put in much effort in producing a comprehensive white paper. Whitepaper ought to contain almost everything about a project and easy to understand.
(6) Milestones: projects with milestone(such as the Beta of their products, or any products they intends to offer), always have better chances of acceptance.
The list continues.......
Others can include their social presence, ratings etc.
The above parameters will most likely reduce chances of falling to fraudulent projects.