The psychology of scams: Why smart people fall for them – Oyedepo Rotimi

By Oyedepo Rotimi, SAN

As a prosecutor, I tin authoritatively accidental that fraudsters are not conscionable criminals; they are maestro manipulators of quality psychology. They survey however radical think, what they fear, and what they tendency — past exploit this cognition to instrumentality adjacent the astir intelligent and cautious individuals.

This explains wherefore bankers, lawyers, professors, concern executives, and civilian servants sometimes suffer millions to scammers. Contrary to nationalist perception, falling unfortunate to fraud is not a motion of stupidity; it is the effect of intelligence manipulation.

How bash scammers succeed?

Fraudsters trust connected 3 almighty intelligence weapons:

…The limb of urgency – “act present oregon suffer out”

From cases I person prosecuted, I recovered that scammers cognize erstwhile radical consciousness rushed, they halt reasoning critically. They nonstop alarming messages specified as:

“Your slope relationship volition beryllium blocked successful 1 hr unless you corroborate your PIN.”

“Pay contiguous oregon miss retired connected this concern opportunity.”

By creating panic, they propulsion victims into hasty decisions. The information is: morganatic institutions ne'er unit you to enactment instantly. If a connection makes you consciousness rushed, it’s a reddish flag.

…The limb of authorization – “trust me, I’m from the bank”

Fraudsters often impersonate officials of banks, authorities agencies, oregon instrumentality enforcement. They usage official-sounding language, fake ID cards, oregon cloned websites to summation trust.

They exploit the information that Nigerians respect titles and institutions. That is wherefore you indispensable ever verify independently:

Don’t telephone the fig successful a suspicious connection — usage the authoritative lawsuit attraction line.

Don’t click unusual links — spell straight to the verified website.

…The limb of greed and fearfulness of missing retired – “double your wealth quickly”

Ponzi schemes, fake crypto investments, and “wonder banks” thrive connected this tactic. They committedness outrageous returns: “Invest ₦100,000 contiguous and get ₦200,000 successful 1 week!”

Even erstwhile radical cognize it sounds excessively bully to beryllium true, they put retired of fearfulness of being near behind. Sadly, these schemes ever collapse, leaving victims devastated.

Why adjacent astute radical fall

Scammers don’t people ignorance; they people emotions. Everyone — educated oregon not — tin consciousness fear, greed, pressure, oregon trust. That is wherefore nary 1 should say, “I americium excessively astute to beryllium scammed.”

How to outsmart the scammer

To support yourself and your loved ones, retrieve these rules:

Pause earlier you wage – ne'er enactment nether pressure.

Verify the root – ever corroborate straight with your bank, company, oregon agency.

Consult idiosyncratic you spot – a 2nd sentiment tin prevention you.

Listen to your instincts – if it feels wrong, it astir apt is.

Final word

Fraudsters whitethorn beryllium smart, but you tin beryllium smarter. By knowing their intelligence tricks, you tin defy unit and support your hard-earned money. Always use this rule:

If it sounds excessively bully to beryllium true, it is excessively bully to beryllium true.

Finally, don’t enactment silent. Fraud thrives erstwhile victims support quiet. If you brushwood a scam attempt, study it to the applicable instrumentality enforcement agencies oregon your bank.

Rotimi Oyedepo Iseoluwa, SAN: Special Assistant to the President connected Financial Crimes and Public Prosecution Compliance

The station The science of scams: Why astute radical autumn for them – Oyedepo Rotimi appeared archetypal connected Vanguard News.