How scammers create the most convincing internet cons

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https://theconversation.com/how-scammers-use-psychology-to-create-some-of-the-most-convincing-internet-cons-and-what-to-watch-out-for-207759?

Recently, consumer protection magazine identified some of the most convincing scams of 2023. These scams all have one thing in common – they take advantage of people’s cognitive biases and psychological blind spots.

They include “pig butchering” a way of fattening up victims with affection, the "missing person" scam which involves posting fake content on social media pages, the traditional "PayPal" scam, and a new scam called the “fake app alert” in which malware is hidden in apps that look legitimate.

In our work as fraud psychology researchers, we have noticed a trend towards hybrid scams, which combine different types of fraud. Hybrid scams often involve crypto investments and sometimes use trafficked labor. In the US alone, the FBI recently reported that people lost $3.3 billion (£2.6 billion) in 2023 to investment fraud.

How scammers use psychology to create some of the most convincing internet cons – and what to watch out for

‘Pig butchering’, fake apps and missing person scams and conning people out of huge amounts of money.

theconversation.com