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.

Read the full story in The Wall Street Journal