In financial scams, 1 in 4 victims is under 30 and is mainly lured on social networks.
Artificial intelligence is the new siren to trick investors into easy profits.
"The scams not only do not stop, but they become increasingly aggressive – explains Andrea Unger, international trader and the only one to have won the world trading championship four times – they ride the current trend and highlight apparently profitable investments by offering promises of high and risk-free returns. These scammers manage to fuel people's hope of replicating the same success as those lucky few who made it, creating a dangerous cycle of deception and unreal expectations. Today, the widespread use of social networks and the increase in online investments make us particularly susceptible to scams, especially financial ones. A click or a simple like can expose us to the pitfalls of fake gurus who, by exploiting social networks, try to lure new victims, especially among the young people.These are often privileged targets, driven by poor financial literacy and the desire to emulate peers who display a rich and luxurious lifestyle.
However, it is essential to remember that the dream of large earnings without adequate knowledge does not discount anyone."
According to Unger's analysis, a "like" or a "follow" is enough and the scam attempt starts immediately.
While a survey by Barclays Bank, the British national bank, 26% of victims of investment-related fraud are under 30 years old, while 77% of all scams take place on social media.
The lever that lies at the basis of all financial scams is easy earnings within everyone's reach.
Today a new scam is making its way that exploits the latest innovation of the moment, namely artificial intelligence.
“People are made to believe that artificial intelligence algorithms exist which, if exploited with the right IT tools, would be able to generate stellar investments – observes Unger – This reference to artificial intelligence fuels the perception of finally being able to access a world apparently magical thanks to the help of an alleged benefactor who contacted us by telephone.
The effectiveness of these scams arises from ignorance, understood as a lack of knowledge, in both the financial and technological fields.
An ignorance that pushes us to overestimate our own potential, falling into the traps of those who try to convince us of the existence of great opportunities that anyone can seize, even without the appropriate economic knowledge".
The problem of financial literacy is the common thread that links all scams over time.
Finally, today the victims are above all the very young, even those of high school age.
“The idea of making money with Bitcoin exploits many people's fear of missing out on the opportunity of a lifetime,” says Unger. “Bitcoin is a term that evokes large earnings and the possibility of becoming rich.
often young people do not have any financial skills or preparation, but in order not to miss the famous train that passes only once in a lifetime, they throw themselves headlong into the world of investments, running the risk of making rash and dangerous choices".
But the promises of apparently reasonable earnings hide some pitfalls.
“Talking about fixed earnings on a weekly or daily basis in the financial context is misleading.
No one can guarantee this type of income, not even when it amounts to apparently more innocuous percentages such as 10%.
The market cannot offer constant and repetitive returns over time, yet people want to believe in it.
They delude themselves and hope to be able to access easy and immediate wealth, thus exposing themselves to scams and scams", concludes the expert.
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