OFT offers scam advice
The Office of Fair Trading has identified the top five tricks used to scam people.
As part of its Scams Awareness Month, the OFT is warning consumers and businesses of the dangers of being caught out by scams, which cost the public £3.5bn a year.
The advice takes on particular relevance to licensees who are the constant target of a string of scams from bogus charity publications to till roll scams.
The top five scam tricks are:
1. Offering you the unattainable dream: Scammers hook you by promising to fulfill your dreams and aspirations. You are told that you alone have been chosen because you are special, but in fact the same scam has been sent to thousands of other people.
2. Using official sounding names: Or referring to important sounding organisations to give a false impression that the scam comes from someone in a position of high authority who can be instantly trusted. This works by overcoming the initial gut feeling that something is not quite right.
3. Using fake deadlines to create a sense of urgency and a fear of missing out: You are told that if you don't reply immediately the opportunity will be gone forever, triggering an impulse to respond before you have the chance to think the offer through properly.
4. Using fake testimonials from satisfied customers: This exploits people's normal tendency to follow the crowd and helps to validate what is being offered.
5. Offering worthless money back guarantees: This is to convince you that you are dealing with a legitimate trader and that there is no risk in sending off your money.
In addition the OFT has commissioned Exeter University to carry out groundbreaking research into the psychological techniques used to make scams believable. The findings will be published later this year.
"Scammers are expert at exploiting people's hopes and fears," said OFT Director of Consumer Protection Mike Haley.
"Anyone can be conned but by learning to recognise the scammer's tricks we can all avoid becoming their next victim."
Have you been the victim of a scam? The MA would like to hear your story.
Please email John.Harrington@william-reed.co.uk, ring 01293 610 481 or hit Post Comment below.
