What makes some people more susceptible to financial scams?

Each year, millions of unsuspecting Americans fall victim to financial scams or other fraud. A new study sheds light on what types of individuals are most likely to be defrauded by bad actors who are pervasive on the internet. 

"Certain people are more vulnerable to certain types of scams," Gary Mottola, research director for the Financial Industry Regulatory Authority, told CBS News correspondent Anthony Pura.

For example, one fraud victim said she received a phone call from someone claiming to be an agent from the Internal Revenue Service. The con artist demanded $500 from the victim, who was led to believe she owed the department taxes. 

"They said, basically, if you don't pay this we're going to file a lawsuit against you for $75,000," the victim, Jackie, whose name was changed to protect her identity, said in an interview with FINRA. 

Jackie, like the many others who fall prey to such schemes, paid up. 

Researchers from FINRA and the Better Business Bureau found that those who lost money were less likely to question authority, making them more susceptible to being conned. 

"You don't want to mess with the IRS. That was my viewpoint at that point," Jackie said. 

The study also found that scam victims sometimes fear coming off as ignorant if they ask too many questions. They also tend to believe that wealth often comes from random opportunities, making them vulnerable to false claims. Another common attitude among scam victims is the belief that good people are rewarded, making them more inclined to trust strangers.

"I am not aware of how crooked the world is," another victim who lost money in an online investment scheme said in an interview with FINRA. In retrospect, she said she should have asked more questions about the opportunity. 

"That's when things can get dangerous in terms of losing money in a financial fraud," Mottola said. He urged individuals to always question why a caller or email sender is asking for money or personal information, and to seek advice from friends and family.  

The findings are based on a survey of 1,408 Americans and Canadians who reported a scam. Of that number, 47% didn't engage with the criminal and so were not victimized; another 30% interacted with the fraudsters but didn't lose money, while 23% of the respondents interacted and were ripped off, the report shows.