Why are victims fooled by fake investment platforms in China?? Insights from trust transfer theory
摘要
Initial trust in fake investment platforms plays a crucial psychological role in understanding why victims fall prey to such schemes. However, the origins and intrinsic mechanisms of this trust have not been thoroughly elucidated. This study aims to uncover the mechanisms underlying the formation of victims’ initial trust in fake investment platforms by constructing a theoretical model based on trust transfer theory. Utilizing the experimental vignette method (EVM), this study simulated scenarios where fraudsters fabricate information on fake investment platforms. The results indicated that institution-based trust of victims can transfer directly to their initial trust in fake trading platforms or indirectly through the mediating role of information credibility. Moreover, victims’ perceived similarity positively moderated both the direct and indirect transfer of institution-based trust to initial trust. Additionally, the victims’ initial trust in the fake trading platform positively influenced their willingness to buy fraudulent investment products. The study also discussed countermeasures to curb the formation of victims’ initial trust in fake trading platforms by obstructing the transfer of institution-based trust.