Hundreds of scams are reported every year, and many scammers often succeed in their efforts. The surprising part is that most victims are smart college-educated males who are aged between 45 and 60. These are the people who thought they could never be scammed because they believe they are too elegant to be cheated. Unfortunately, these people top the list of those who have been scammed the most. 

Scammers perpetrate scams that look foolish at times. The scammers often call up people pretending they are representing the IRS or a bank and request for the pin number one’s debit or credit card. Nigerian scammers send an email offering to exchange information about a few hundred million dollars in exchange for a few thousand.

For some reason, they target people who they believe are gullible. Unfortunately, on most occasions, they are right because the smart not only fall for these scams but also part with valuable information.

Why do scammers succeed while smart people fail? Let us look into the reasons for this phenomenon. 

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 They Targeting The Victim’s Achilles’ Heel 

People usually have a feeling that they are completely prepared and will never fall for a scam. They do not calculate any unexpected events that could befall them and affect their children and finances. People in the age group of 45 to 60 usually click on links over the Internet which lead them to viruses.

Similarly, teenagers can be tricked into parting with information about their debit card passwords by claims that the card has been hacked. Scammers are always after such kind of information. They believe smart people can easily be tricked into parting with such information or visiting pages over the Internet where their computers could be hacked.

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 They Succeed By Playing With Your Ego 

You may be a smart person who has information on many subjects, but unfortunately, you will have gray areas where some information will not be available to you. If you believe you will never be scammed because you’re too smart, you are setting yourself up to be scammed in areas that you are not familiar with. Scammers succeed because they are willing to play with your ego.

 They Try To Win Your Trust 

Many scammers make an attempt to become a part of your life before trying to scam you. These are the hardest type to deal with. They could offer you an investment deal that is irresistible to refuse, or they could give you a sweet deal that is too good to turn down. You could be trying your best, but the scammer will have won your trust, making it difficult for you to say “No!”

“Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.” —Bill Ackman

 They Believe You Will Fear Missing out 

Scammers are experts in creating a sense of urgency to convince you to act on something immediately. They will come out with weird stories about a deal that will expire shortly or will be sold to someone else unless you do something right away.

They do not give you the time to think because you could begin to ask questions that they wouldn’t want to answer. Many people instantly get fooled into a scam because they are afraid they could miss out on an opportunity to get a good deal.

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 They are Always Looking for Desperate People

This could be difficult to believe, but for some reason, scammers seem to have the sense to understand when you are desperate. As such, they always make an attempt to exploit the vulnerability. People who are desperate for money are often blinded when presented with an opportunity to become rich instantly. You may begin to act irrationally, particularly when a scammer presents an offer of millions but only asks for upfront taxes in return. On the other hand, they could offer a guaranteed return on investment, which would be unbelievable for the most desperate.

Scammers are aware that people do not behave rationally when emotions are involved. Are the scammers targeting the smart people because they are more gullible than the rest?Or are they trying to find out whether they are more intelligent than the smartest people? We will need to conduct more research on this subject before we can provide a conclusive answer.