<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>DRIVEN BY GREED: Why people fall prey to scams
</TR><!-- headline one : end --><TR>With judgment impaired, they let promises of windfall get the better of them, say experts </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Shuli Sudderuddin
</TD></TR><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->'Royalty' from far-flung lands willing to part with their money. Phone calls congratulating you on winning the lottery. Offers of handsome commissions for doing next to nothing.
Outlandish as these may sound, there are always some people who get taken in by such scams.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>Victim's painful lesson
In late 2007, a school teacher who wanted to be known only as Ms Tan received an overseas call telling her she had won $150,000 in a lucky draw organised by an electric company in Hong Kong.
But, to claim the prize, she had to pay $5,500 in taxes.
</TD></TR></TBODY></TABLE>The reason: The greed of the victims clouds their better judgment.
Just two weeks ago, for instance, nine members of a scam 'syndicate' were jailed by a Hong Kong court.
Together, they had tricked 12 victims worldwide into depositing HK$13.88 million (S$2.6 million) into 10 Hong Kong bank accounts.
One of their victims was a 27-year-old Singaporean fund manager.
Last year, the scammers called and told her she had won a HK$45 million lottery.
They told her that she would get the money after she paid up some 'advance fees' for administrative purposes.
Charmed by the prospect of a big payday, she willingly parted with more than S$300,000 before realising she had been had.
There are other variations of this trick.
In one, people are told they have won a luxury car.
But before they can drive off with it, demands for an 'administrative fee' are made.
Dr Ken Ung, consultant psychiatrist at Adam Road Medical Centre, said scammers often dangle such bait to prey on a common human failing: greed.
'Especially in the economic crisis, people will give up something to get a bit more. It's a bit like spending on a ticket for the Big Sweep,' he said.
Dr Ang Yong Guan, consultant psychiatrist with Paragon Medical, explained: 'With greed and a weak personality come impaired judgment, because people are so hopeful for a big win. They fail to properly consider the consequences.'
Added Dr Brian Yeo, a consultant psychiatrist at Mount Elizabeth Medical Centre: 'It's not a psychiatric illness. Most people are greedy and they just want to make big money.
'The bigger the reward offered, the more they are willing to risk.'
Even the police have advised the public to ignore notifications of a win in a foreign lottery, especially when there is no purchase or gift of a lottery ticket.
Yet, even though most people ignore the e-mail messages, phone calls and such that claim to bring them good fortune, the pay-offs for scammers are considerable.
In 2007, 325 people in Singapore were cheated of $4 million. Last year, the figure grew: There were 305 cases involving $5.2 million.
Ultimately, say experts, it is relatively easy to avoid falling prey to such scams.
The cardinal rule, they say, is that there is no such thing as a free lunch.
Failing to realise this initially almost made National University of Singapore undergraduate Andrew Phua, 22, a victim.
He received calls several months ago informing him that he had won the second prize in a Hong Kong-based lottery.
He recalled: 'They were very insistent and made repeated calls emphasising that my prize would be forfeited if I did not claim it.'
But he did a check on the website they provided, and found it suspicious as it showed that the company was based in Hong Kong, but the callers had spoken with mainland Chinese accents.
He decided to ignore their calls.
Mr Phua admits that the scammers had him for a while there. 'They almost had me, but I guess some things are too good to be true.'
Accountant Stephen Foo, 26, has received two or three such lottery scam phone calls recently.
But he is quick to hang up: 'I have no reason to be expecting any calls from China and I haven't joined any contest, so I don't let greed get the better of me.'
[email protected]
Additional reporting by Lee Xin En
Is greed the reason people fall prey to scams? Have your say at straitstimes.com
</TR><!-- headline one : end --><TR>With judgment impaired, they let promises of windfall get the better of them, say experts </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Shuli Sudderuddin
</TD></TR><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->'Royalty' from far-flung lands willing to part with their money. Phone calls congratulating you on winning the lottery. Offers of handsome commissions for doing next to nothing.
Outlandish as these may sound, there are always some people who get taken in by such scams.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>Victim's painful lesson
In late 2007, a school teacher who wanted to be known only as Ms Tan received an overseas call telling her she had won $150,000 in a lucky draw organised by an electric company in Hong Kong.
But, to claim the prize, she had to pay $5,500 in taxes.
</TD></TR></TBODY></TABLE>The reason: The greed of the victims clouds their better judgment.
Just two weeks ago, for instance, nine members of a scam 'syndicate' were jailed by a Hong Kong court.
Together, they had tricked 12 victims worldwide into depositing HK$13.88 million (S$2.6 million) into 10 Hong Kong bank accounts.
One of their victims was a 27-year-old Singaporean fund manager.
Last year, the scammers called and told her she had won a HK$45 million lottery.
They told her that she would get the money after she paid up some 'advance fees' for administrative purposes.
Charmed by the prospect of a big payday, she willingly parted with more than S$300,000 before realising she had been had.
There are other variations of this trick.
In one, people are told they have won a luxury car.
But before they can drive off with it, demands for an 'administrative fee' are made.
Dr Ken Ung, consultant psychiatrist at Adam Road Medical Centre, said scammers often dangle such bait to prey on a common human failing: greed.
'Especially in the economic crisis, people will give up something to get a bit more. It's a bit like spending on a ticket for the Big Sweep,' he said.
Dr Ang Yong Guan, consultant psychiatrist with Paragon Medical, explained: 'With greed and a weak personality come impaired judgment, because people are so hopeful for a big win. They fail to properly consider the consequences.'
Added Dr Brian Yeo, a consultant psychiatrist at Mount Elizabeth Medical Centre: 'It's not a psychiatric illness. Most people are greedy and they just want to make big money.
'The bigger the reward offered, the more they are willing to risk.'
Even the police have advised the public to ignore notifications of a win in a foreign lottery, especially when there is no purchase or gift of a lottery ticket.
Yet, even though most people ignore the e-mail messages, phone calls and such that claim to bring them good fortune, the pay-offs for scammers are considerable.
In 2007, 325 people in Singapore were cheated of $4 million. Last year, the figure grew: There were 305 cases involving $5.2 million.
Ultimately, say experts, it is relatively easy to avoid falling prey to such scams.
The cardinal rule, they say, is that there is no such thing as a free lunch.
Failing to realise this initially almost made National University of Singapore undergraduate Andrew Phua, 22, a victim.
He received calls several months ago informing him that he had won the second prize in a Hong Kong-based lottery.
He recalled: 'They were very insistent and made repeated calls emphasising that my prize would be forfeited if I did not claim it.'
But he did a check on the website they provided, and found it suspicious as it showed that the company was based in Hong Kong, but the callers had spoken with mainland Chinese accents.
He decided to ignore their calls.
Mr Phua admits that the scammers had him for a while there. 'They almost had me, but I guess some things are too good to be true.'
Accountant Stephen Foo, 26, has received two or three such lottery scam phone calls recently.
But he is quick to hang up: 'I have no reason to be expecting any calls from China and I haven't joined any contest, so I don't let greed get the better of me.'
[email protected]
Additional reporting by Lee Xin En
Is greed the reason people fall prey to scams? Have your say at straitstimes.com
