Fraud Psychology: How Fraudsters Manipulate Others
Popular uses of emotion to influence decisions are well-known, especially from the emerging science…
(Jan 24, 2014) — Popular uses of emotion to influence decisions are well-known, especially from the
emerging science of persuasion. Marketing and sales professionals routinely use emotions
to excite consumers about a product or service. This can best be called an attempt
at persuasion. And few
of such uses are truly manipulative, let alone criminal.
Link To Articlehttp://www.kennesaw.edu/ur/files/WCC12-13F.pdf
Key difference: Many fraudsters use a combination of initial excitement followed by fear to frighten us about losing our money…and thereby persuade us to give it to them willingly.
Example: There have been frequent E-mail scams and phishing incidents in which, after the initial promise of "found money," a threat is falsely
amplified, and the victims are persuaded that by giving out their personal information, their fear alleviated.
Fraud is a particularly pernicious and diabolical manipulation of emotions. It is a human act that is not hidden -- it happens openly in the books and records—it is there for all to see (despite efforts—often quite successfully—to conceal such schemes, or the audit trail of incriminating evidence).
Key: C-suite fraudsters, who may have engaged in management override of internal controls, strive to distract those who would discover the crime by essentially dismissing their inquiries as small-minded and/or by discrediting the auditing profession as "bean counters." …
MIND OF THE FRAUDSTER
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