"Gullible and Greedy"

Last year in testimony before a committee of the California legislature, a convicted (and presumably reformed) telemarketer testified that, in his experience, the typical victim of telephone investment scams is "controllable and greedy."

Truth sometimes erupts in the most improbable places....

The National Institute for Consumer Education (NICE), publishes instructional material on consumer fraud. According to their checklist, typical scam victims

- Misplace Their Trust

Vulnerable consumers do not question honesty or ethics of the marketer. For example, they may pay someone who promises to recoup losses from an earlier scam.

- Assume They Are Experts

Vulnerable consumers do not seek information about a subject or "opportunity". They may not admit their lack of the necessary knowledge or skills.

- Do Not Use Common Sense

Vulnerable consumers let "getting something for nothing" overtake sound reasoning.They do not question what sounds too good to be true.They accept the deal rapidly for fear they might miss the oppurtunity.

- Search for Good Health

Vulnerable consumers let universal desire to be healthy overtake good judgment. They believe in false cures for a serious illness or chronic condition.

- Believe Misleading Ads

Vulnerable consumers assume publications accept advertisements from reputable sources only. They believe assume information in advertisements has been verified as true.

- Seek Youth or Beauty

Vulnerable consumers fall for appeals of promised beauty or youth. They are willing to believe what they are told.

- Feel Intimidated

Vulnerable consumers buy a product or service out of assumed obligation to the seller. They feel threatened when they question price or quality of goods or services.

- Do Not Know or Use Their Legal Rights

Vulnerable consumers do not seek legal counsel when needed. They often fail to report being swindled to law enforcement agencies.

So there you have it: The Ph.D's at NICE went the long way around the barn, but they basically agree with the con man. Most scam victims are gullible and greedy. Not necessarily all the time, but that's where "controllable" comes into play... because they also are easily manipulated.

I realize I'm painting with a broad brush here, but as you can see, experts on "both sides of the law" back me up. And besides, the evidence is so abundant that you'll immediately recognize these cliches:

- The elderly retiree who is scammed out of his life's savings in a bogus investment deal;

- The struggling young family that buys encyclopedias or infant life insurance at payments they can't afford;

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