Scam victims are more concerned about coming out as a victim than with the money lost to the con artist.
Many of these newsletters are dedicated to teaching you how to spot a scam. We need to keep talking about scams, and we need to avoid victim-blaming language when we talk about them, especially when the victim you’re talking about is yourself. We can break the stigma and support each other, but only if we keep the conversation going.
A recent study in June 2018 by the Centre for Counter Fraud Studies at University of Portsmouth (CFS) and pensioner fraud helpline Reassura found that victims of fraud are more concerned with their status as a victim – the stigma and confidence loss – than they are concerned with the actual financial losses from fraud.
Seniors are common targets of cons because they tend to be less tech-savvy, can become socially isolated, tend to have financial pressures from fixed income and health concerns, have physical or cognitive impairments, and are especially vulnerable in times of bereavement. Seniors also make tempting targets because even at the best of times, the study found, 22% of seniors are unwilling to discuss their finances. After falling victim to fraud, 36% choose to stay silent.
The fact of the matter is, con artists are very good at what they do because it’s how they survive. They’ve had a lot of time to hone their skills, a vast archive of scams to draw from, and no shortage of new tech to take advantage of, and new pressures to exploit. The problem is, the stigma remains so we don’t talk about it, and that leaves us unaware of what to be on the lookout for, and unable to help keep each other safe. The stigma of being a scam victim creates the perfect habitat for scams to proliferate.
The solution is to bring the conversation around. If you have fallen victim to a scam, talk about it. If you have an elderly relative you’re concerned about, bring up some scams you’ve read about lately, or suspicious emails or phone calls you’ve received. That will open the door to discussion. If you’re a senior, you’re a target, but so is everyone else. Talk to your peers about scams. Talk to your relatives about scams. NEVER use victim-blaming language. While it’s easy to look back and clearly see the red flags, hindsight is 20/20, and it can be hard to see the truth when the lie is just the answer you’ve been looking for.
If you or a loved one gets a suspicious phone call or email, loses money in fraudulent fees, or ends up locked out of their computer from accidentally uploaded ransomware, report it and get a PI on the case. Contact me atMignolet@Bellsouth.net. Don’t just pat yourself on the back for seeing the red flag, or throw your hands up and surrender if you missed it. You can stop the crook from pulling one over on someone else.