Rich professionals are scammers’ favourite targets

 Rich professionals are scammers’ favourite targets

I read recently that an unnamed 90-year-old woman in Hong Kong had been conned out of HK$250m ($32m). As reported in the South China Morning Post, it was a classic scam — the fraudsters called her pretending to be Chinese mainland officials and said her bank account had been compromised and that she needed to transfer her money for safekeeping. She authorised the transfer and the money disappeared.

Scams have been in the news this year — in the UK, the scam du jour is the missed parcel. Typically this starts with a text saying recipients need to pay a fee on a delivery. It ends, usually via a series of calls from “bank officials”, with you losing the contents of your account (eight men were arrested last month on suspicion of fraud).

When we think of this sort of fraud, though, we rarely think of rich professionals as victims. Rather, we tend to assume the scammers target the naive and vulnerable, not…

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