The US Financial Industry Regulatory Authority’s (FINRA) Investor Education Foundation has produced an hour-long documentary called Tricks of the Trade: Outsmarting Investment Fraud, based on four years of research.
You get to hear fraud artists describe how they con people out of their money. The film is very instructive. It is well worth ordering. Limited quantities of the documentary are available on DVD at no cost.
You learn how to identify the many different persuasion tactics fraudsters use and how effective the tactics can be on people who haven’t learned to protect themselves. The documentary begins by identifying the most vulnerable audience – overconfident, financially literate men 55 to 65, who engage in risky behaviour.
What is particularly interesting about this documentary is that it is based on what is learned from listening to hundreds of undercover tapes of con men pitching victims.
One of the most riveting moments in the film is the simulation of a telemarketer phoning a potential investor from a boiler room. If you want to learn how to develop your own “refusal” script, go on line, and look at FINRA’s website and order this documentary.
If you happen to fit the criteria of the most vulnerable target, you watch it, especially if you think it would never happen to you.
On July 8, 2011, the British Columbia Securities Commission announced its Criminal Investigations Team arrested Ronald James Conn and his wife, Sze Man “Ella” Conn. The Conns were arrested in Vancouver on June 28, 2011 by members of the BCSC’s Criminal Investigations Team, with assistance from the Vancouver Police Department. It is alleged that Ronald […]
If you know about the InvestRight Guide to Investing: How to make informed investment decisions, you’ve probably gone through it on a computer and used the interactive worksheets. For those of you reading about it for the first time, let me give you a quick refresher. The Guide to Investing is a free resource that […]