BBB Study: Why some consumers are more vulnerable to scams | Community
New findings from a two-year study bring researchers closer to understanding why some people are more likely to lose money to financial fraud. The FINRA Investor Education Foundation (FINRA Foundation), Better Business Bureau (BBB) Institute for Marketplace Trust, and the University of Minnesota completed the study, Exposed to Scams: Can Challenging Consumers’ Beliefs Protect Them from Fraud?, in advance of World Investor Week, Oct. 4-10, 2021.
Investigators found that the attitudes and beliefs shaping the ways study participants looked at the world—known as “mental frames”—may have influenced the way they reacted to scams.
Specifically, researchers propose that mental frames governing compliance, opportunity, intelligence, and order may have…