THE MAGAZINE

Fraud Findings.

In a study conducted by Pratkanis for the Consumer Fraud Research Group, he writes that investment-fraud victims seemed to be actually more knowledgeable about investing than were nonvictims, supporting the adage that a little knowledge is a dangerous thing. He also describes the phenomenon of “mass customization,” in which con artists find out all they can about a customer and tailor their tactics to the person. One fraud artist who learned that a victim was religious managed to gain the woman’s trust by praying with her at the beginning of every conversation.@ The study is available via SM Online.

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