Outsmarting Investment Fraud

We've all heard it before: "If it sounds too good to be true, it probably is." But the trick is figuring out when "good" becomes "too good." Investment fraud criminals make their living by making themselves and their schemes sound legitimate.

These criminals are masters of persuasion, tailoring their pitches to match the psychological profiles of their targets. They ask seemingly benign questions about things like your health, family, political views or hobbies, and then bombard you with a flurry of influence tactics after they know which buttons to push. This can leave even the savviest person in a haze.

But you can fight back against fraud by learning how to recognize these tactics and how to resist them. In Trick$ of the Trade: Outsmarting Investment Fraud—a documentary by the FINRA Investor Education Foundation and AARP—we uncover these persuasion tactics and explain the basic tools you can use to protect yourself. You can order a free copy of the  DVD, which has been featured on PBS and recognized by Kiplinger's Best of Everything.

Blog Topic: 
Investing, Scam Alerts

Comments

your right about these people putting you in a haze. they are very good at what they do and very bad at refunding. they breach their own contract, don't hold up to other parts of their contract which i don't understand why the consumer is responsible to pay. once you have been scammed, all the information in the world doesn't change things. i feel the credit card company's should take a more active role in helping their cardmembers from being scammed. when they see an unusual charge in the thousands they should do a little investigation before posting the charge. i caught the scam early, the charge was pending, not yet posted so when i told my credit card co. i had just been scammed they should have declined the charge and have a list of scammers available to their security dept. scamming is out of control. the consumer is confused as to what is happening until it has happened and then held responsible to pay. if the banks would be more active, they could save a lot of consumers thousands of dollars. this would help stop the problem before it happens and no one would be out any money except the scammer who has no right to take your money in the first place. how many complaints about a company do people have to post before somebody investigates the company because i found hundreds of complaints very much like mine which also made me wonder why it happened. it can be prevented if the banks take an active roll in knowing merchants that have complaints about them and are known as scammers.

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