Evolution of Fraud in the 21st Century
“ The perfect 21st century crime committed against the perfect victim.” This “perfect” victim of course could not be you; the very smart architect, doctor, or even respected financial advisor in your home country. The cyber world is the perfect tool for persuasion in the 21st century. Witness its use in the election of the present US President (arguably the most powerful man on the planet). Massive use of the tool likely caused the election of a relative unknown politician through the overwhelming mobilization of the “under 35 set”; who traditionally have never come out to vote in any numbers even remotely comparable to the totals witnessed in the 2008 general election in America. Yes, nearly all the victims of Economic Frauds are good, intelligent, and usually highly educated individuals in relative terms. These are the people with the assets that the fraudsters are after. How most are “hooked” is in one of two ways. Either by the greed of the victim leading to actors promising unreasonable returns from their capital, or secondly by the desire of some victims to move their funds away from the “prying eyes” of the tax man in their home country. Either scenario is simply an open invitation to disaster. Initial contact is usually made by uneducated yet smooth talking individuals likely located in a country without governmental control or agencies in place for the regulation of business (especially brokerage operations). These “boiler room” operations are overseen by far more sophisticated criminals who believe, basically, that they cannot succeed sufficiently for their needs without engaging in criminal activities. The basic lack of cooperation among the various nations whose citizens are the victims, becomes even more clouded by jurisdictional issues stemming from the multinational nature of the vast majority of frauds perpetrated. This basic inability to seek redress once a fraud has occurred serves only to insulate the criminals from their victims. It is the duty of anyone considering an investment, especially an Internet based one; to exercise due diligence, and to not use the Internet as a tool to investigate those contacting you; or even the companies they purport to represent. Any investment entails a certain amount of risk, and the greater the return potential; the higher the inherent risk level. Heed well the old advice that if it seems to good to be true, it isn’t. Seek professional advice through due diligence providers, such as EconomicFrauds.com, and exercise caution with your hard-earned assets, as they can be taken from you by the unscrupulous far faster than they are replaced. Hopefully, in future, these fraudulent activities will; through international cooperation and policing, become more difficult to perpetrate. But today, sadly, the criminals appear to have the advantage. Remember to use caution by the pound to avoid regret by the ton.