The Root of Greed

​When we think of New York, we think of the Big Apple, when we think of Chicago, we think of the windy city, however, when we think of Los Vegas, we think of Sin City because of its well-known unfettered avarice nature. And is it not true humans have the propensity to dub a country, a city, and of course, a person by their reputation or their legacy?

But on the other side of the coin of greed, there is altruism or the concern for the welfare of others, unless they are hiding behind philanthropy for the purpose of recognition, fame or to receive accolades which falls into the definition of greed, this disparaging human behavior is so insidious to say the least.

In one of this week's episodes, and author shared the history, the psychology and the methodology scammers or fraudsters deploy to satisfy their insatiable appetite of greed for personal gain, and it has been ongoing since time immemorial.

Greed is defined as an intensive selfish desire for something such as wealth, power and even for food, and considering today’s social environment, it only is worsening, it is in a state of crisis. But what is the root of greed?

Psychological research has found that avaricious behavior often becomes apparent from early negative events such as abandonment by parents, lack of childhood structure, or neglect. These forlorn emotions manifest themselves in later years, feelings of stress, anxiety, and vulnerability, combined with low self-respect, drives the individual to be preoccupied with intense selfish desires of which is a replacement for the love, compassion, and the sense of security that they desperately needed.

When striving for wealth, power or anything that brings comfort, it is often a distraction from these accumulated negative feelings, and many times at the expense of others who serve simply as an instrument for their personal gain.

However, there are exceptions of the forgoing, when we consider the holy writings, the bible, in the first book of Genesis, it speaks of the first scammer and charlatan ever documented, a fallen angel, and because of the avaricious desire to be recognize and venerated deceived or scammed the first man and woman.  It is so unfortunate, but how do we protect ourselves from scammers or those fraudsters that followed?

It is a matter of knowing how to protect ourselves from being caught, therefore, I say, "let the dog chase its own tail," he will never catch it!

As technology progresses, so will the battle of defending ourselves from these unscrupulous people. It seems every time I log into my bank account, there is another layer of security, and the battle goes on ad infinitum.

Have you ever received an email from Nigeria requesting to submit their funds into your savings account? One of the most common cliche is "if it sounds too good to be true", you know the rest. I once called the local FBI office about such emails several years ago, and they only admitted they had a cabinet full of these complaints. Have you ever received a call from the IRS informing you owe back taxes and if it is not paid immediately, you will be prosecuted?

For collecting back tax payments, the IRS would never call you, but they will notify you by mail and have you satisfy taxes owed  by check, money order via snail mail or by credit card on their secured online site.

The best practices recommended are always to contact the subject government agency or business directly if you receive an unexpected phone call, via texts, email, or other means of communication.

Why do they continue to email and call? They work on the law of averages, meaning for example, one of so many will be too credulous or gullible and will fall victim to their chicanery, and thus benefit financially.

So, what are some signs That it is a Scam?

Scammers will profess to be from a reputable organization we are familiar with, such as government agencies, like the Social Security Administration, the IRS, or Medicare, or conjure up a name that sounds officially legitimate. They prefer to present themselves with businesses you are familiar with, always appealing to your trust, like your utility company, Microsoft, or even from a well-known nonprofit organization asking for donations. Have you noticed that they use a local phone number and when you call back, the number is bogus?

These scammers are always on a fishing expedition, telling you there is a PROBLEM or a potential PRIZE.

Humanity within us all calls for giving others the benefit of the doubt, but when it comes to cold calls you may be a better person than I am. What is the principle that will help to sort out the barrage of cold callers?

In 1987, Ronald Reagan famously coined the phrase "trust but verify" when signing the INF treaty with Mikhail Gorbachev is the principle we need to exercise for our own protection.

When you receive an email or text message from a company you do business with and it looks legitimate, it is still best to constrain yourself from clicking on any links. Instead, contact the company using the customary website you know is trustworthy for verification. Or call them directly and never call the number they provide or the one that shows on your caller ID.

Never ever give your personal financial information no matter how much they insist. Most organizations will not call, email you, or text to ask for your confidential information, like your Social Security number, your banking info, let alone credit card information.

Sometimes we get a little rattled by a cold call and we begin to wonder if it is real or not. Gather your wits about you and talk to someone you trust, like your spouse, friend, your neighbor, or a confidant prior to deciding or doing anything else.

However, if we were caught off guard and the dog caught its tail, report what happened to you to the Federal Trade Commission (FTC). And if you were defrauded or witnessed a fraud, make it known to the FTC at ReportFraud.ftc.gov.

Depending on the nature of the fraud, this is what to do:

Immediately contact your financial institution and put a hold on your credit card. Again, depending on the type of transaction, it may be possible to receive reimbursement for your money losses. Of course, do not forget to Report the incident to the law authorities and at ReportFraud.ftc.gov, and file a formal complaint at IdentityTheft.gov providing you had relinquished personal information. And, for mail fraud, make it known to the United States Postal Inspection Service.

This is the world we liv in, and I remember that old movie of years ago that advocated keeping your friends close, but your enemies closer, meaning we cannot afford to be naive to this world's machination of trying to take advantage of you and me.