PRACTICAL ENTREPRENEURING

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March 21, 2008

Scams - and how to protect yourself from them

by @ 3:01 pm. Filed under Tools

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Most scams are the same old tricks being played over and over , and people keep falling for them. Just as there is no typical profile for swindlers, neither is there one for their victims. Not all fraud victims are greedy, risk-taking, self-deceptive individuals looking to get rich fast. Nor are all fraud victims naive, uneducated, or elderly. Virtually anyone can fall prey to fraudulent crimes. It may be true that confidence tricksters often rely on the greed and dishonesty of the victim, however some tricks actually depend on the honesty of the victim. It is really a jungle out there, and the code is: survival of the well informed.

Consider this 400 year old classic known as the Spanish Prisoner trick : the con artist tells the victim that he is in touch with an aristocrat who has been imprisoned in Spain under a false identity, and is relying on the con artist to raise the money needed to secure his release. The confidence artist offers to let the victim supply some of the money, with a promise that he will be rewarded generously when the prisoner is freed. However, once the victim has turned over his money, he learns that more money is required and rather than lose the money he has already put out will invest more. This will continue until the mark is cleaned out. Game over. This scam is now known as the Nigerian scam .
SCAMS : and how to protect yourself from them - This book is about dishonesty - from street level to Cyberworld . It describes the common scams presently in circulation today and their origins. It shows how each fraud is perpetrated and how the informed reader can avoid or at lest minimise their losses when faced with the scenario. :
http://www.lulu.com/content/2197985

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