We've all heard the timeless admonition "If it sounds too good to be true, it probably is" -- great advice, but the trick is figuring out when "good" becomes "too good." There's no bright line. Investment fraudsters make their living by making sure the deals they tout appear both good and true.
They're masters of persuasion, tailoring their pitches to match the psychological profiles of their targets. They look for your Achilles heel by asking seemingly benign questions -- about your health, family, political views, hobbies, or prior employers. Once they know which buttons to push, they'll bombard you with a flurry of influence tactics, which can leave even the savviest person in a haze. Some of the most common tactics include:
If these tactics look familiar, it's because legitimate marketers use them, too. But one key difference is that real deals will still be there tomorrow. So always take the time to stop and think before making a decision. Use these key strategies to protect yourself.
Investment fraud criminals are masters of persuasion. They are professionals -- this is what they do 24/7. And the tactics they use to try and separate you from your money are increasingly sophisticated.
In "Tricks of the Trade: Outsmarting Investment Fraud," we've uncovered the psychology of a scam and offer expert insight to help you recognize and resist the persuasion tactics used by fraud criminals.
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