“Why do the con artists succeed time and again? It is because they know they can exploit the ignorance, vulnerability or very often, the greed of their victims. Con artists often succeed because people hear the promise of easy money and they throw caution to the winds. They do not ask themselves questions, let alone do due diligence on the offer.”
Mr Tan Siong Thye, Director of Commercial Affairs Department, 2004
Quick Get-rich Trading Seminars
“Mrs Y turned $2,000 into $15,000 in three days”
“Mr X makes 1,500% profit in one week”
“You will develop a millionaire sure-win system”
“Amazing no-money down strategy”
1) Glossy marketing, name dropping, posing in photos with recognizable investment personality are just a few of many gimmicks to reel people in to sign up for dodgy, overhyped investment courses or buy “clever” trading software.
2) For example, some seminar operators use Mary Buffett as a partner, to use her famous surname and previous association with Warren Buffett to gain credibility. Some people mistake Mary Buffett as Warren Buffet’s daughter and therefore knows all there is to know about how Warren Buffett invest. The truth is Mary Buffett was Warren Buffett’s ex daughter-in-law. She divorced his son in 1993. Since then, she has cleverly maintained her ex father-in-law’s surname to gain acceptance and ride on his investment fame. Warren Buffett has never endorsed Mary Buffet. In fact, he has endorsed nobody in the world.
3) Be extra diligent and cautious when you come across offers of exceptionally high or consistent profits and claims that cannot be verified and hyped up.
4) To encourage the audience to sign up for the course or products sold, the seminar operator plants its own staff within the audience to pretend to sign up for courses, rush to the stage and give their own scripted testimonials to endorse the courses or products sold.
How do you protect yourself?
NLP techniques are used to create a buying mood in the audience and create a hypnotizing state of mind control.
Recognize these common mind-control techniques.
1) Repetition of the message through means ranging from saying singing or chanting the same phrases over and over, often emphasizing certain key words or phrases.
2) Mimicking the rhythm of the human heartbeat through the thought leader’s speech cadence or musical accompaniment. This can be enhanced with lighting that’s not too dim or too harsh and a room temperature to encourage relaxation.
3) Never letting you have time to think. This can mean simply never letting you have time alone, or it can mean bombarding you with repeated lectures while discouraging questions.
4) Making you say “Yes” or “I agree” or “I want to be rich” or words to similar effect countless time to soften you up and prepare you to eventually say “Yes” to buy their products or courses.
Oh no, I think I’m being brainwashed !!!
What should you do?
Trust your intuition.
If your gut tells you somebody is trying to mind manipulate you and rush you into making a decision, flee. Or request firmly upfront that they show you respect by not applying NLP techniques when interacting with you.
(*Materials adapted from Commercial Affairs Department, Singapore)
Our Best, Always
Empower Advisory Team
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