EXPOSED MIND TRICKS CROOKS USE TO STEAL YOUR LIFE SAVINGS

We all think we’re too savvy to fall for scams but anyone can be f lattered into submission

FRAUDSTERS don’t usually have a degree in psychology, but they know every mind game in the book.

If we make the mistake of believing we’re too clever to be taken in we will only become more vulnerable.

In recent weeks, it’s been revealed how customers of one UK high street bank, Santander, have been swindled out of their life savings – and often the crooks employ sophisticated psychological tricks.

We asked professional psychologists to explain what you need to know to protect yourself from a con artist.

DON’T FALL FOR A FAKE CHEAP IPAD

PROFESSOR Stephen Lea, an economic psychologist, says: ‘People often ask me if there is a particular type of person who is more susceptible to scams, hoping that I’ll describe someone very different to themselves.

‘That’s a dangerous attitude. Everyone is vulnerable. Students might fall for fake offers of cheap iPads, while older people are often targeted by investment scams as they are more likely to have money to invest.’

Confidence tricksters often lend credibility to their plot by bringing in a kernel of truth, says Professor Lea.

Fraudsters who are trying to flog a bogus investment will draw on real stories from the Finance pages of newspapers, such as the value of the euro falling.

Changes to regulations can be another hook, and Prof. Lea warns fraudsters often mention any new rules on pensions to lure in savers.

Meanwhile, crooks who call saying they are from your bank or internet provider often claim your account is at risk of being hacked – which, ironically, is wholly true.

CON ARTISTS CHARM AND SEDUCE YOU

NO ONE likes to think they can be manipulated by flattery. But Professor Lea says you must watch out for ‘gradual seduction’.

Phrases such as ‘an experienced investor such as yourself will know...’ or ‘I’m sure you realise the importance of investing for your future and that of your children’, are all designed to appeal to the ego.

Dr Paul Seager, a psychologist at the University of Central Lancashire and author of several books on lie detection, says: ‘We all have an ideal self – how we want to be perceived by other people. The fraudster will use that.’

HOOKING YOU TO SAY ‘YES’

‘LET’S face it, scammers are just illegal and highly unethical salespeople,’ says Dr Seager. ‘A good sales technique is to open with a question that your target has to answer with a “yes”. Once you’ve said “yes” to three questions in quick succession, they’ve probably got you on the hook.’

It’s called ‘commitment consistency’ in psychology jargon. When we make some sort of a commitment we feel guilty if we back out. So if the fraudster has already got you to agree to questions about savings goals and then asks if they can tell you about a great investment opportunity, it’s harder to refuse.

Try to concentrate on each question. If it helps, count to three before replying to each question. It will buy you time, and make you appear as if you are weighing up your options. If it truly is a good deal it will still be available in a few hours’ time or tomorrow.

PRETENDING TO BE JUST LIKE YOU

ANOTHER ploy is called ‘disclosure’. Fraudsters reveal something about themselves to establish common ground.

But, of course, it isn’t true, says Dr Joan Harvey, a consumer psychologist. They might say ‘my mother’s like you, she’s worked hard and saved all her life and she’s invested in this scheme’.

It works on many levels, says Dr Harvey. It’s partly ‘social proof’ – we’re far more likely to believe something is a good deal if other people similar to ourselves have bought in. Then, after saying their own mother lives a long way away and they don’t get to visit as much as they would like, the fraudster might ask about your own family and where they live.

‘Not only does this paint the scammer as a loyal son or daughter, appealing to the victim’s values, it also lets the fraudster know if there is any risk of someone bursting in and interrupting the scam,’ says Dr Harvey.

TAKING HOURS TO WEAR YOU DOWN

FRAUDSTERS try to keep their targets on the phone for as long as possible – often hours at a time.

This is because self-control is a limited resource and can be worn down, says Professor Lea.

‘If you’ve been very careful for a long time, you are far more likely to do something impulsive,’ he says.

Forensic psychologists have shown people who are interrogated for a long time sometimes confess to crimes they haven’t committed out of exhaustion.

The same state of mind could lead you to do something against your better judgment.

MAKING YOU SIGN UP OUT OF GUILT

FRAUDSTERS will try to make their target feel as though they owe them something.

This is known as ‘reciprocity’. Professor Lea says: ‘You think to yourself: “I’ve taken up a lot of this person’s time I ought to give them something.”

‘In reality it’s the other way around. You should be thinking: “They have taken up a lot of my time.” But that’s not the way our minds work.’

PRESSURE OF LAST CHANCE TO BUY

WHEN the fraudster is ready to seal the deal, they will probably tell you the investment is in short supply and time is running out.

The idea is to jolt you into making a snap judgment.

They know that the longer you have to think about something the more likely it is you will see through it.

If you are called out of the blue by someone you don’t know, the safest thing is to hang up.

Find out how to protect yourself at consumerhelp.ie/scams or call 1890 432 432. Report scams to the fraud department of your local Garda station.

HAVE you been scammed by a con artist? Did you get your money back? Email us at news@dailymail.ie