(NAPSA)—Knowing how to say “no” is a skill and it’s one you can practice. One way to improve your “no” skills is to develop a refusal script. Jim Vitale knows how important a refusal script can be. He once talked people out of their savings and described himself as a “monster” on the telephone. “T have strong capabilities to persuade people to do things that they probably would never do in a million years,” said Vitale. Today, after serving 37 months in prison and three years on supervised release for his role in a $17 million business opportunities scam, he warnsinvestors about the dangers of their own emotions. “T would say that the educated person is an easier target than the uneducated person,” Vitale said. “That very ignorance, of thinking that he can’t get taken, is what I would use against him to take him.” Vitale is one of several former con men interviewed in an hour-long documentary by the FINRA Investor Education Foundation and AARPentitled “Tricks of the Trade: Outsmarting Investment Fraud.” The movie and its companion website, SaveAnd Invest.org, focus on the tricks that Jim Vitale, who once talked people out of their savings, nowtells investors howto avoid fraud. “First of all, end the conversation, have a refusal script in place. Two, turn the tables and ask questions. It’s important to ask a lot of questions of a fraudster. And finally, talk to someonefirst. Get that second opinion.” A refusal script, said Doug Shadel, Washington state director of AARP and an expert in invest- tic. “The more they know about ment fraud, is something you practice in advance so you feel comfortable saying “no.” And be prepared to say “no”a lot. “They’re persistent,” said Shadel. “I knew one con man who had victims that said ‘no’ nine times before they’d say ‘yes.” Asking questions also puts you back in control. Be sure to ask if the person selling the investment is registered with FINRA, the Securities and Exchange Commis- them to push the right buttons and get you to a point where emotion takes over and you stop thinking rationally. It doesn’t happen right away. It can take weeks or months and happens during several calls.” Gannon recommendsthree key strategies to protect yourself: investmentis registered. And verify the information you receive with the appropriate agencies. For more information about avoiding investment fraud or to order the free “Tricks of the Trade” DVD, you can visit www.saveAndInvest.org. cons use to get victims to lower their guard. One trick Vitale used was“an illusion of familiarity.” John Gannon, president of the FINRA Investor Education Foundation, said this is a commontac- you,” he said, “the easier it is for sion or your state securities regulator, Gannon said. Ask if the
