The Rational Reminder Podcast

Episode 366 - Avoiding Investment Scams

Jul 17, 2025
Scammers are hijacking trusted identities to exploit investors. The hosts reveal the tricks behind sophisticated scams, from fake WhatsApp groups to AI-generated voice clones. They share personal experiences infiltrating fraudulent trading schemes and discuss the psychology that allows these scams to thrive. Listeners learn essential red flags to watch for, emphasizing the importance of skepticism against enticing offers. The conversation highlights current regulatory innovations aimed at protecting vulnerable investors from financial fraud.
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INSIGHT

Scammers Exploit Source Credibility

  • Scammers use source credibility by impersonating trusted figures like Benjamin Felix to gain fast trust.
  • This trust makes their scams easier and more effective against unsuspecting victims.
INSIGHT

Specific Scam Education Works Best

  • Specific education about scams reduces victims' susceptibility significantly more than general warnings.
  • Knowing how particular scams work helps people recognize and avoid them effectively.
INSIGHT

Behavioral Biases Aid Scams

  • Scammers exploit behavioral biases like optimism, halo effect, present bias, regret aversion, and representativeness.
  • These biases make people more vulnerable to promises of easy wealth and quick gains.
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