Business View Magazine - July 2023

12 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 7 person’s kindness. In the past, charity scams involved posing as charitable organizations responding to a recent, real calamity . The new missing person scam is more sophisticated. The initial plea is a fake missing person post that generates likes and shares, increasing its credibility and exposure. Then the fraudster edits the content to create an investment scheme which now has the veneer of legitimacy. This scam may work because the initial consumers are unaware that the content is fraudulent, and there is no obvious request. In psychology, this type of persuasion is known as “social proof” – the tendency of individuals to follow and copy behavior of others. Fake app alerts People post mobile apps, designed to steal users’ personal information, on the Google Play or Apple app store. The app often has a legitimate function, which gives it a cover. Consumers unknowingly jeopardize their private information by downloading these apps which use malware to access additional information. Although there has been media coverage of Android security issues, many users assume malware cannot bypass app store screening. Again, this scam plays on people’s trust in authority figures to keep them safe. Discuss any investment opportunities with friends, family members or professionals. It’s much easier said than done, but exercising caution is one of the best strategies to reduce the chance of becoming a fraud victim. Scammers count on people paying little to no attention to their emails or messages before clicking on them or providing valuable information. When it comes to scams, the devil is in the missing details.