We can easily stereotype those we believe are susceptible to a scam. But the scammers are keeping up with current events and are prepared to take advantage of our basic human emotions. The impact of these frauds is underreported due to the shame and embarrassment. 

Today’s guest is Alan Castel. Alan is a Psychology professor at The University of California Los Angeles. He studies learning, memory, fraud, and aging. His work has been featured in The New York Times, Wall Street Journal, and Time Magazine. He recently published a book entitled Better With Age: The Psychology of Successful Aging.

Show Notes:

• [1:08] - Alan shares his background and what he focuses on as a psychologist.

• [3:33] - We are all susceptible to scams, regardless of the stereotypes.

• [5:50] - Scams focus on our human nature of trying to make sense of the world and our emotional brain. Scams prey on our basic emotions.

• [7:34] - Scams are tailor made to expose our vulnerabilities.

• [8:50] - Some scams are situational and can be completely believable.

• [10:05] - There are people who are much more vulnerable to scams, but it’s not based on stereotypes.

• [12:48] - Education and awareness can come from podcasts like this, but it also needs to come from people who have experienced a scam.

• [15:33] - Although scams don’t only target older adults, the elderly tend to be more susceptible to scams that target their need to help others.

• [18:19] - There are some phrases that aren’t always recognized as false because they sound scientific.

• [20:48] - There are websites and organizations that support scam victims, and it is highly recommended that you report anything that happens.

• [22:32] - Alan admits that he has fallen victim to a scam on a website, entering his credit card information to purchase something.

• [26:37] - Alan describes a reinforcement schedule, which is a psychological tactic to build relationships.

• [28:10] - Scams are clever and Alan sees their potential to use psychological principles to part people from their money.

• [32:30] - How does memory play a role in scam vulnerability?

• [35:05] - Alan describes the “foot in the door” technique.

• [37:02] - It comes down to curiosity as human nature.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review. 

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