If you have spent any time paying attention, you have probably seen one of these ads.

Ask your students what they think the catch might be to this sales pitch…

Then have them listen to this 22 minute Planet Money Podcast “Anatomy of a Scam.”

Have the students jot down notes to these questions as they listen:

• What are the stages of the sales pitch he uses to lure her in?
• What attributes make the salesperson effective?
• How is he able to get her to share her financial information?
• Why do you think this particular scam worked so well (note how many millions they bilked out of the victims)?
• While you may not fall in this specific trap, what can you learn from this particular scam to avoid getting into trouble?

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.