5 Main Reasons Why People Fall for Scams

Con artists and scammers seem more active than ever. Stories about new scams emerge regularly. Those who read them may wonder how some people can be so gullible to fall for those scams. However, the truth is that anyone can become a victim because scammers are increasingly cunning.

One of the best ways to avoid them is to learn how these criminals think.To do this, you need to learn what tactics they apply. So, here is a list of the 5 main reasons why people fall for scams.

1. A Sense of Emergency

In marketing, this is a concept called FOMO, which stands for fear of missing out. This is actually an old-school concept. Salespeople have used it for decades even before it got a name. FOMO means making buyers feel that they have to act fast. Why? Because in an offer that revolves around FOMO, there is always a time limit.

We have all seen many of these offers. For example, a company promises a 20% discount on one of their products. But you must buy it today to get the discount. Scammers leverage the same technique. Moreover, they often do it while luring victims with commercial offers.

Numerous online scams revolve around fake offers. This can translate into defective or counterfeit products or even products that don’t exist. However, because scammers are cunning and pushy, they often convince people to buy. Moreover, by making the offer a time-limited one, they increase their chances to succeed.

In conclusion, to steer clear of scams that rely on FOMO, be wary of limited offers. Especially if they promise discounts that sound too good to be true.

2. Common Personal Interests

Some scams are impersonal in nature. you simply get an offer, more than often unsolicited, from unknown people. You access it. Then, you realize money vanished from your account, yet you haven’t received the goods you’ve paid for.However, not all scammers use elaborate e-Commerce scams. Some simply leverage victims’ emotions and need for companionship.

These are often the most dangerous ones because they gradually get closer to victims. By taking small steps, they first gain the target’s trust. Scammers usually approach victims on social platforms or dating sites. Then, they spark up a conversation and pretend to have many things in common with that person. After a while, when the trust is already established, scammers ask for money.

3. Loneliness and the Need for Companionship

People’s need for companionship and belongingness also makes them prone to fall for scams. This often happens in online love scams. There have been countless accounts of victims. These people who usually money to scammers they met on dating apps and never got it back.

Moreover, it seems that middle-aged and older people are more prone to fall for these scams. Furthermore, another feeling scammers leverage when they use emotions to get to people’s pockets is loneliness. Dating apps and sites are just the right place to find people who cope with this feeling.

When someone gains our sympathy, we find it hard not to comply with their requests. Scammers are aware of this. Therefore, they pull the right emotional strings to make victims grow attached to them. Then, when they are sure the person is hooked, they attack.

Usually, emotional scams end with a loan request. The crooks never pay back their debt. Instead, they suddenly disappeared without a trace.

4. Returning a Favor

Another technique scammers use is the principle of reciprocity. Just like love scammers, those who rely on reciprocity establish a trust connection with their victims. They can do this through groups or forums where people share common interests and passions.

First, they approach a person to gain their confidence. They often help that person with tips or resources for a problem they want to tackle. Afterward, they continue communicating regularly. Then, one day, they send a link to an offer or investment opportunity and insist it’s a lucrative one.

Because the person talked to the scammer for a while and feltthey were trustworthy, they don’t refuse the offer. Cleaver scammers know how to profit from all human weaknesses, including a false sense of owing a favor.

5. Not Lagging Behind Others

When we feel or are told that many people have done something, we’re prone to follow their steps. This is a great psychological tactic fraudsters also leverage. Claiming that 70% of people who got an investment opportunity profited from it increases trust.
Thus, new victims rush to invest in the same scheme, even if it is a fraudulent one. This decision stems from our natural propensity to do the same as others.

Remember these five psychological principles scammers leverage to trick people. They can help you avoid embarrassing and costly mistakes.

Article provided by Bastion Balance.