What Happened to our Collective Smarts?

I blogged about Nigerian letter scams about 2 years ago. At the time, I wondered whether it was worth posting such a story as I thought everyone, or at least most Canadians, were already aware of these types of scams and that few of us would continue to fall prey.

Wonders never cease to amaze!

We could sit back and wonder in amazement at how "those people" being touched by these crimes are not using their noodle but in an economic downturn, these stats are not that surprising.

With less certainty in the market, those seeking to make a profit can become desperate and often resort to either breaking the rules, or operating within a grey area between right and wrong. This has become a popular news topic as the economy in the US and that in Canada have suffered a departure from the climb we have seen for many years.

As unemployment rates climb and we hear of our friends who have lost jobs, we hear of those genuinely trying to help those in need. As genuine as the intent to help is, the recipient is not always an honest individual.

Canadians keep falling for Nigerian letter scam, experts say recession a factor
The Canadian Press - Saturday, July 4, 2009 11:24am

Fraud artists are finding it easier amid a battered economy to entrap marks with dubious offers once easily dismissed as scams, and are snaring a growing number of victims to the tune of millions of dollars a month, experts say.

The Competition Bureau is warning that recessions are "boom times for scammers" and predicts desperate Canadians will fall into traps offering easy cash online, by phone and mail.

Statistics provided by Phonebusters - the Canadian anti-fraud call centre run by the Royal Canadian Mounted Police, the Competition Bureau and Ontario Provincial Police - show Canadians are increasingly falling prey to scams of all types.

"Fraud does tend to increase in economic downturns," said Ian Nielsen-Jones, the Competition Bureau's assistant deputy commissioner.
Vulnerable people sometimes lower their defences and make bad decisions as times get tough, while others on the borderline of lawful society turn to crime, Nielsen-Jones said.

Scams involving promises of employment are on the rise, while other ploys that had virtually disappeared because the public had gotten wise to the ruse are now making a comeback, he added. [...]

Continue to the rest of the Canadian Press article.

Technorati Tags: Canada Counterfeit Fraud Prevention Identity Theft