I'm a retired Boomer and I just watched my smartest friend lose everything to a scam-here are 9 ways they got to him that could get to anyone - Silicon Canals

"Last month, I sat across from one of the brightest people I know as he explained how he'd lost nearly everything to a sophisticated scam. This wasn't some naive teenager or technophobe. This was my friend from university days, a retired executive who'd navigated corporate politics for decades and made shrewd investment decisions his whole life. Watching him piece together how it happened was like watching someone solve a puzzle in reverse."

"The scammers hadn't just stolen his money; they'd weaponized his own intelligence against him. What struck me most was his comment: "I thought I was too smart for this." That's exactly what made him vulnerable. And sitting there, listening to his story, I realized how many of their tactics could work on any of us. Since then, I've been researching how these operations work, talking to other victims, and diving into the psychology behind why smart people fall for scams."

"It was a personalized LinkedIn message from someone claiming to represent an exclusive investment opportunity only available to "select qualified investors." They'd done their homework. They knew his professional background, mentioned mutual connections, and referenced specific achievements from his career. The whole approach screamed legitimacy and exclusivity. Research shows we're all susceptible to what psychologists call "optimism bias." We believe good things are more likely to happen to us than to others."

A retired executive lost nearly everything to a sophisticated scam that weaponized his intelligence and ego. Scammers crafted personalized outreach, using LinkedIn messages that referenced career achievements and mutual connections to create legitimacy and exclusivity. The approach exploited optimism bias and the target's self-image as a shrewd investor. Victim reflections and subsequent research reveal multiple psychological levers—selection flattery, tailored credibility, and narrative plausibility—that undermine even highly experienced professionals. The investigation included conversations with other victims and analysis of tactics. Nine specific methods were identified that explain why intelligent people can become vulnerable to elaborate fraud.

Read at Silicon Canals