The Seniors Center Blog: what sheep can teach us about avoiding scams

Affinity fraud is a type of investment scam wherein a scammer abuses the trust of a very specific type of victim.

The scammer picks someone who will inherently trust them–a coworker, a fellow church member, someone from the same country or who speaks the same language, or even a friend or family member–makes them a bogus investment opportunity pitch, and relies on their victim’s trust to steal their money. Many of the pyramid schemes we see prosecuted today are affinity scams.

These are some of the hardest scams to avoid when presented with one. And it’s because we want so badly to trust the person making us the pitch.

But if you can’t resist the temptation, you could very well end up getting fleeced by a wolf in disguise.

If you’d like to read about how this scam works–or if you just really like farm puns–check out our post over at The Seniors Center Blog.