Economist Podcasts Trailer: Scam Inc
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Jan 28, 2025 Dive into the dark underbelly of a booming multi-billion dollar scam industry rivaling the drug trade. Discover how a Kansas bank’s $47 million loss reveals the pitfalls of poor decision-making and the vulnerability of even seasoned professionals. Delve into the organized networks of global scams, highlighting the grim realities of human trafficking and corruption. This rising threat not only affects victims but has the potential to impact everyone’s lives.
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Kansas Bank Collapse
- $47 million went missing from a small-town Kansas bank after the CEO made a cryptocurrency investment.
- The CEO, Shane Haynes, claimed he'd been scammed and needed more money to recover the funds, but the bank ultimately collapsed.
Sophisticated Scam Industry
- The scam wasn't a typical Nigerian Prince con but something more sophisticated and ruthless.
- It was a global, predatory industry, bigger than the illegal drug trade, involving human trafficking, corruption, and money laundering.
Dystopian Underworld
- The criminal underworld behind the scam industry involves forced labor and disturbing systematization.
- Victims describe being enslaved and forced to chant slogans like "Kripo the US and the European economy."