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>> Do you have any insights on why grifting schemes appear to be proliferating? Fraud really thrives in moments of great social change and transition. We’re in

by p1esk 8y ago

>> Do you have any insights on why grifting schemes appear to be proliferating? Fraud really thrives in moments of great social change and transition. We’re in the midst of a technological revolution. That gives con artists huge opportunities. People lose their frame of reference for what can and can’t be real.

oh_sigh 8y ago
Any evidence that fraud doesn't thrive at all times, including times of change and transition? This sounds like a just-so story.
- keithpeter 8y ago
  Quote from OA that caught my eye as well... "...We’re in the midst of a technological revolution. That gives con artists huge opportunities. People lose their frame of reference for what can and can’t be real." So I suppose the hypothesis is that more people have defective bullshit detectors during big changes in any given field. A possible test of the hypothesis would be to look at fraud prosecutions by domain of deception (high tech stocks, property development) and by choice of victim (newly rich technical people, people new to a country &c) and see how those vary with time.
  - jib 8y ago
    Microsoft doesn’t know that you have a virus on your PC (and won’t call you about it) but Facebook can identify your friends in a photo you posted better than you can. That is not obvious to most people, because the concept of customer service we understand, while we really don’t understand learning algorithms.
    - acqq 8y ago
      > Microsoft doesn’t know that you have a virus on your PC But technically Microsoft definitely can know that, if that were its goal. There's nothing technologically lacking to have that knowledge. Most probably it simply doesn't use that information, specifically doesn’t call random users.
- rhizome 8y ago
  I think it's related to the business truism, "a confused customer is more receptive to advertising messages." They didn't say fraud doesn't exist otherwise.
- nickpsecurity 8y ago
  I'm in areas and positions to see a lot of data in a trend like that. From my vantage point, the fraud stays happening in all kinds of ways with it going up or down based on both job opportunities (reduces crime) and opportunities for criminals (increases it). There's definitely been more attempts with things like Facebook-based scams, gift cards, and so on. The lower barrier to entry is increasing the number of people doing it. I wouldn't say any technological revolution or transition is causing it, though. The Web and social media already happened. ;) The cryptocurrencies do look like they're trying to push the envelope on theft described as failed investments, though. I do suggest looking into crime statistics for fraud and how they're determined over time if you want a more objective, representative viewpoint.
- tim333 8y ago
  While there is some fraud at all times the quantity varies. The recent IPO craze was epic.

by p1esk 8y ago

oh_sigh 8y ago

Any evidence that fraud doesn't thrive at all times, including times of change and transition? This sounds like a just-so story.

keithpeter 8y ago
Quote from OA that caught my eye as well... "...We’re in the midst of a technological revolution. That gives con artists huge opportunities. People lose their frame of reference for what can and can’t be real." So I suppose the hypothesis is that more people have defective bullshit detectors during big changes in any given field. A possible test of the hypothesis would be to look at fraud prosecutions by domain of deception (high tech stocks, property development) and by choice of victim (newly rich technical people, people new to a country &c) and see how those vary with time.
- jib 8y ago
  Microsoft doesn’t know that you have a virus on your PC (and won’t call you about it) but Facebook can identify your friends in a photo you posted better than you can. That is not obvious to most people, because the concept of customer service we understand, while we really don’t understand learning algorithms.
  - acqq 8y ago
    > Microsoft doesn’t know that you have a virus on your PC But technically Microsoft definitely can know that, if that were its goal. There's nothing technologically lacking to have that knowledge. Most probably it simply doesn't use that information, specifically doesn’t call random users.
rhizome 8y ago
I think it's related to the business truism, "a confused customer is more receptive to advertising messages." They didn't say fraud doesn't exist otherwise.
nickpsecurity 8y ago
I'm in areas and positions to see a lot of data in a trend like that. From my vantage point, the fraud stays happening in all kinds of ways with it going up or down based on both job opportunities (reduces crime) and opportunities for criminals (increases it). There's definitely been more attempts with things like Facebook-based scams, gift cards, and so on. The lower barrier to entry is increasing the number of people doing it. I wouldn't say any technological revolution or transition is causing it, though. The Web and social media already happened. ;) The cryptocurrencies do look like they're trying to push the envelope on theft described as failed investments, though. I do suggest looking into crime statistics for fraud and how they're determined over time if you want a more objective, representative viewpoint.
tim333 8y ago
While there is some fraud at all times the quantity varies. The recent IPO craze was epic.