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Explain in English the meaning of the following words and expressions.
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Fraud
Swindler
Victim
Financial effect of fraud
Psychological effect of fraud
Ask 5 questions to the text: «Victims of Fraud».
Agree or disagree and support your view-point.
1) Any person can be a victim of fraud.
2) The psychological and financial effects of fraud are very negative.
3) Swindlers are very inventive.
Make up a short summary of the text.
TEXT 2. INVENTIVE SWINDLERS
Telemarketing sales presentations are actually carefully scripted pitches designed to trap the unwary, to close a sale by any means.
A swindler's driving force is greed and they have a talent for sniffing out the same vice in others who, in their desire to get rich quickly, are all too eager to put their trust and their money in the hands of unscrupulous swindlers. They justify their actions by assuming that victims deserve their fate.
All con artists have charisma which sometimes masks the fact that they are malignant narcissistics who like to feed on the insecurity and stupidity of the naive and weak people. They know that people who are down on their luck are easier to manipulate, and they have no feelings of guilt or remorse as they use all manner of trickery and deceit. They will strip victims not only of their hard earned money, but also of their dignity.
Telemarketers get paid by generous commissions. An experienced salesperson can make $50,000 to $90,000 a year, and an aggressive one can make over $450,000 in a single year. Yet often when these con artists are brought to justice, it is impossible to recover anything to compensate their victims because most of their money has gone to purchase recreational drugs or to support an extravagant lifestyle.
Scam operators love to flaunt the spoils of their massive multi-million dollar deceptions. After spending as much as physically possible on luxury toys such as Ferraris and Jaguar sports cars, fully equipped mansions and casino junkets, they generally try to hide the excess in offshore accounts.
In fact, many swindlers have an extensive criminal history, including convictions for assault and narcotics offenses. These thugs, who contribute nothing to our society, choose to satisfy their greed by bilking others instead of doing an honest day's work.
A Major Industry
At one point, it was estimated that over 10,000 people in the Southern Nevada area were involved in telemarketing scams. Despite Nevada's identity as a center of fraudulent telemarketing activity, the reality is that telemarketers have migrated from state to state and have entrenched themselves in various states as well as Canada (particularly Toronto, Montreal, Vancouver) and abroad.
The scope of the telemarketing problem is revealed by the telephone bills of raided operations. Each of these calls represents a potential or actual victim.
Masters of Manipulation
Con artists are experts at manipulating certain human traits such as goodness, gullibility, greed or fear which will influence people to voluntarily part with their money. Because a scam requires the voluntary participation of the victim, you are in a position to defeat the fraud by just saying "no" to the con artist. The challenge is to educate you so that you can recognize that a swindle is taking place.
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Conmen have stated that to succeed they need a victim who displays greed, gullibility and the ability to be controlled. A less cynical person might consider these traits to apply to a desire to succeed, trust and respect for authority.
Evidence from fraud investigations shows that telemarketing schemes use a wide variety of influence techniques, ranging from friendly conversation to outright demands or even threats, to persuade victims to part with their money. Many calls include the following elements intended to mislead victims and secure their compliance.
Excitement
Schemes often begin with statements to excite the victim, interfering with your ability to think clearly and calmly.
"Thelma, I can't tell you what you're getting, but I am sure you will enjoy it all."
"If you recall, you were involved in a promotional campaign and you were promised you'd receive some very large corporate award, do you remember that?... Great! Then you'd better sit down for this."
"They told you the man in charge of the place would be calling you. Well, that's me! Take a deep breath now and try not to be nervous."
Show of Familiarity
Cold callers often try to "warm up" potential customers with flattery or friendship. They might try to put you off guard by chatting about your hometown or the local sports team. Or they might falsely suggest they've spoken with you before.
They are certain to know more about you than you know about them. They assume that you want more income, that you're receptive to a bargain, and that you are reluctant to be discourteous to someone on the phone.
"Very soon your profits will come rolling in." "This deal is so great, I’ve made investments myself."
Doing You A Favour
They will imply that they are doing you a favor by offering you the investment opportunity and will sound so confident about the money you are going to make that you will become confident enough to give your savings.
"You've got to understand that typically I don't make these type of calls. I've got people to do that. I've got eleven years in this business and I’ve worked my way up to the senior vice president with 400 clients and $40 million dollars under management. I don't need this account, but I am not against it."
"This opportunity is the best chance to make extra money for guys who work for a living, guys like you and me." "We don't make money unless you make money!" "I know this can work for you." "I can personally guarantee your success, right down to the last penny." "Give me one percent of your trust. I'll earn the other 99 when you see the return."
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