8/10/09 – Fraud Doesn't Always Happen to Someone Else
Studies of scammers and fraud victims have found some eye-opening trends. Such victims aren’t necessarily uneducated and gullible, or naive seniors. The typical investment-scam victim is an optimistic married man in his later 50s who has a higher-than-average knowledge of financial matters and deep confidence in his own judgment, according to research funded by the Financial Industry Regulatory Authority’s Finra Investor Education Foundation.