Do you fit the profile of a fraud victim? It is easy to think of online trading scammers (forex, cfd, binary options, & cryptocurrency among others) as evil criminals sitting in a dark room somewhere. And the truth isn’t far off. But the harsh reality is that these operations are usually highly organized and run like any good efficient business operation.

One of the first steps in starting a business operation is knowing your ideal customer, who you are selling to. This is a crucial step for any marketing campaign. If your messaging is off, or you aren’t targeting the right people, your business plan will fail. It follows then that the scammers spend a lot of time doing market research and profiling the perfect scam victim.

fraud victim

Who Will Never Be a Fraud Victim

First, let us start with who the scammers have no interest in talking to. They never want to speak to a savvy investor. Experienced investors would never go for the scam. They know for example that the earning claims of the scammers (£1,000 in a week on a £250 investment – a common scammer pitch), is impossible. If they heard such a claim, red flags would go up, they would research the company and quickly discover that they are a scam.

They also don’t want to speak to people with no money. People with no money can’t be scammed out of money they don’t have. And people with poor credit are also don’t make for a good fraud victim. The scammers are trying to tap people with access to cash and credit. So where do we find this magical unicorn who has access to lots of cash and credit but don’t know enough about money management and investing to spot the obvious red flags of an internet trading scam?

Let us recap

So far

  • The perfect fraud victim will have no prior investment experience
  • Lots of cash in the bank
  • Solid credit

One more thing

Even if the scammers found this perfect victim, if they go after people in a country with a long arm, where the law has powerful reach, they will be caught. So they must choose victims in countries where they do not have to be afraid law enforcement will have powerful international reach and a strong will to go after them.

The perfect fraud victim

Pensioners living in first world countries outside the United States. If you figured that out, you are already ahead of the scam game.

Let us see if they check off all the boxes

  • The FBI has a reputation for hunting down and detaining criminals involved in financial scams. In fact, they recently arrested several foreign nationals who are facing charges in binary options fraud.
  • Middle-class pensioners frequently have no prior investing experience.
  • Pensioners are in a position to have saved for a lifetime, so even if they aren’t rich or financially savvy, they may have access to cash.
  • And finally, those who have spent their lives working hard, paying their bills, and saving carefully are likely to have solid credit.

When you put these pieces together, you now have the perfect fraud victim profile: Middle class pensioners living in places like the United Kingdom, Australia, South Africa, etc.

If you lost money trading online and think you may be a scam victim, speak to a wealth recovery consultant today to explore your options. Get started here.