I received a scam text message while writing this month’s Editor’s Note.

It was one of those seemingly innocuous—and oddly phrased—messages that most of you have also received on your phone. Its intent, though, was purely malicious: to steal my money. Any response to it would be viewed as an invitation to begin a conversation.

These conversations seem warm and genuine at first. You receive photos, hear about what’s happening in another person’s life and see other gestures of what would appear to be the start of a genuine friendship or even a romantic relationship. It is all designed to build trust before tricking you into putting money into a scam.

Investment-related scams are currently some of the most highly reported scams, as Christine Kieffer explains in this month’s issue. Kieffer is the interim president of the FINRA Investor Education Foundation. I’ve seen her present on the subject. The stories she shares are both sad and maddening. Innocent and smart people are being robbed of significant amounts of money.

Worse yet, victims are often targeted again by recovery operations. These start with a message claiming to be from someone investigating their fraud case. According to Kieffer, such scams are often run by the very same criminal organization that already stole from the victim. This is loss aversion at work. Research by Nobel laureate Richard Thaler shows that people become risk-seeking after a loss if they believe there is a chance for them to get back to breakeven.

It is easy to think that you won’t be a victim. But scammers are relentless and make use of a variety of methods to trap you, including text messages, social media ads and impersonations. I have had to ask social media companies to remove accounts using my name and likeness.

My and Cynthia McLaughlin’s interview with Kieffer is featured in this month’s issue. It includes practical advice on how to protect yourself and resources for those who have been scammed. I encourage you to read it.

Wishing you prosperity and good health,