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Monday, November 26, 2012

Victimization is all in the Behavior

Are you familiar with the concept of “the Mark”? A mark is slang for the identified victim of a scam or fraud. Most investors don’t think they can ever become a mark. Yet, the vast majority of high net worth individuals are easily identified and often targeted. The reality is stunning because this particular pool of victims is rarely recognized. The reason for this is these victims rarely report their losses. While there are many reasons for this behavior it is mostly related to the common emotions of shame and guilt.

All victims suffer shame and guilt, yet the higher the profile the greater the threat that shame and guilt is socially motivated. The social networks of High Net worth families are closed societies and life style is one of the highest priorities. They are targeted more not simply because they have the wealth, but even more importantly they will usually not publicize their losses and therefore become almost a victimless crime opportunity. Conmen love High Net worth marks.

This doesn’t mean that scams, fraud and predatory sales tactics are isolated to High Net Worth victims solely; unfortunately everyone is subject to being victimized.

One of the constant staples of victimization is your financial decision making process. This process is fully ingrained and it is behavior driven. The behaviors that determine your financial decision making process have been seared into your sub-conscious and can easily be identified and manipulated by scammers and fraudsters. In fact the reason that so many people are victimized is that they are simply unaware of the psychological triggers that make up their financial decision making process. This makes investors and consumers easy targets for predators.

Our greatest advancements such as social media and communication on demand have made scamming and defrauding investors easier than ever. In the past cons needed to work hard to identify ideal marks, today in less than an hour they could come up with dozens of potential marks. They can also easily identify all the necessary psychological triggers needed to successfully manipulate their identified marks.

If you aren’t fully aware of your financial decision making process and how the psychological triggers can be manipulated you will have a total blind spot and never see the scam coming. Everyone believes the old adage “it can’t happen to me” and unfortunately they would be very wrong. At the Advocacy Network we provide our members with the information and tools necessary to completely inoculate and insulate investors and consumers against scams, fraud and predatory sales tactics. Wouldn’t you enjoy the peace of mind of knowing that were 100% protected from scams, fraud and predatory sales tactics? It is about prevention not reaction.  321-574-6562 O  321-947-3220 C