Those numbers will likely be much higher when you consider cases that have gone unreported.The risk is practically inescapable.
Its also harder to quantify emotional distress versus financial loss, she notes.
At a Glance
The emotional and psychological toll of a scam can be profound.
Verywell Mind / Stocksy
It Can Happen to You
Take this story from Texas retiree Leonid Shteyn.
It started as an innocuous call from a saleswoman.
The caller offered an opportunity to invest in cryptocurrency trading.
Shteyn, a savvy businessman who immigrated from the Soviet Union decades ago, did his due diligence.
Everything looked legit and above board.
One of his friends was also their client.
Shortly after, Shteyn opened an account with the company and deposited $250.
I would never make such payments to any other bank less reputable than Bank of America, says Shteyn.
There are no words I can use to describe my state of mind, says Shteyn.
You do not expect to question your own sanity.
It felt like life was over, he shares.
In psychology, we call this confirmation bias.
The sudden realization can also make you feel disoriented, temporarily impairing your ability to think clearly.
to get to cope, its important to first acknowledge and accept your feelings.
Denying or suppressing these emotions can make them worse, notes Dr. Schiff.
Bungo, Larissa.Think you know what the top scam of 2023 was?
Take a guess.Federal Trade Commission.
2022;19(14):8294.
In: Gellman MD, Turner JR, eds.Encyclopedia of Behavioral Medicine.
