In this podcast episode, psychologists Daniel Simons and Christopher Chabris delve into the reasons behind why people fall for scams and cons. They discuss how common cognitive biases, such as truth bias and reliance on easily accessible information, make individuals more susceptible to deception. The conversation highlights examples like the Bernie Madoff Ponzi scheme and enticing investment offers that seem "too good to be true," showcasing how these biases are manipulated. To help listeners safeguard against fraud, the episode concludes with practical tips, urging them to question consistently high returns and be cautious of aggressive sales tactics, particularly during phone calls asking for immediate payment via prepaid cards. The dialogue also touches on the growing influence of AI in creating new deceptive schemes.
