The “Prey” Personality: What Are the Big Five Traits of People Who Fall For Scams?

“It was like I was hypnotized…” says Maria*, as she looks down at the floor. “I don’t know how else to describe it. I’m a cautious person. I grew up without a lot of money so I’m really careful with my spending. I can’t believe this happened to us…” her voice trails off.

It began in early 2023 when Maria heard that her husband’s cousin Christos was making a killing in crypto trading. She and her husband make a modest income so the idea of an investment with high returns was appealing.

“We didn’t know anything about crypto, but everyone talks about how you can make a fortune in it. I would never just trust a stranger, but this was a referral from my husband’s cousin. It seemed legitimate.” Maria and her husband talked it over and decided to take a small risk, investing the equivalent of about $5,000 of their savings. It seemed like a wise middle ground: they could potentially make some great returns but also mitigate their exposure.

“Since it was crypto, it didn’t raise alarm bells when everything was done online, and there were no papers to sign. Looking back now, it feels ridiculous but at the time, it seemed reasonable,” she says. 

She didn’t know it, but Maria and her husband were about to fall victim to a pig butcher scam.

What is a Pig Butcher Scam?

A pig butcher scam is a sophisticated online financial fraud where criminals build trust with their victims over long periods before ultimately swindling them out of significant sums of money. 

The scammers are experts in using psychological manipulation to get the victims to give as much money as possible. 

In Maria’s case, everything seemed promising at first. After making the initial investment transfer, she and her husband received login credentials for their online account. From the platform, they watched their investment steadily grow, fueling their hopes for a brighter financial future.

The conversations with their “broker” started friendly but after a few months, the discussions became more intense. He began pressuring them to invest beyond their initial investment. He talked about an amazing opportunity that was only going to be available for 48 hours. He told them they need to act fast or they would miss out on this once-in-a-lifetime chance. 

The high pressure tactics were effective and by the end, Maria and her husband invested nearly the entire savings they had set aside as their daughter’s college fund. They saw huge returns in their online account, but they were starting to feel uncomfortable. They decided they had made enough and called asking for a payout. 

And then things changed. 

They were told they would need to pay the equivalent of nearly $100,000 in “taxes and fees” before they could access the money. “This is when alarm bells went off in my head. I’m no accountant, but I know that’s not how investments work,” Maria says. 

When it became clear they couldn’t pay the so-called 'tax' bill, the broker disappeared—ignoring their calls and cutting off all contact. It was the ultimate long con. Over 500,000 pig butcher scammers operate around the world, causing $75 billion in global losses—and Maria fell right into their trap.

Who Falls Victim? 

It’s easy to assume that only the naive or financially inexperienced fall victim to pig butcher scams, but the reality is far more complex. In Kansas, Heartland Tri-State Bank collapsed after its CEO, Shan Hanes, embezzled $47 million to invest in a pig butcher scheme—proof that even seasoned financial professionals can be deceived. 

In a shocking twist on the traditional scam, Charlotte Cowles, a journalist who had a weekly column in The New York Times' Business section, recounted her own ordeal in her article, “The Day I Put $50,000 in a Shoebox and Handed It to a Stranger.” And if you browse Reddit’s r/scams community, you’ll find countless firsthand accounts from victims of all backgrounds—executives, students, retirees—each with a devastating story of how they were manipulated and drained of their savings.

While factors such as economic background, education and intelligence do not seem to determine who falls victim to pig butcher scams, an individual's personality plays a crucial role. The Big Five personality model offers valuable insights into which characteristics may increase a person’s susceptibility to these sophisticated schemes.

The Role of Big Five in Scam Susceptibility

The Big Five personality model categorizes individuals based on five key traits: Openness, Agreeableness, Neuroticism, Extraversion and Conscientiousness. Several studies show that people who score high in Agreeableness, Extraversion and Openness are more vulnerable to online fraud, including catfishing and pig butcher scams. 

Conversely, people who score high in Neuroticism and Conscientiousness are less at risk.

High Agreeableness

Researcher and systems analyst Vian Smit, in collaboration with Stellenbosch University, conducted a 700-person survey examining the personality traits most associated with scam susceptibility. His findings revealed that Agreeableness is the strongest personality trait predictor of online fraud victimization.

Agreeable people are trusting, compassionate and cooperative—qualities that scammers exploit with precision. Trust is the backbone of pig butcher scams, and Agreeable individuals are often more willing to believe in the good intentions of strangers. “These are people who care about the quality of the relationships they have with others. They are compassionate and cooperative towards other people rather than being suspicious and antagonistic. These characteristics get exploited and cause them to become victims,” Smit explained in a podcast.

They also tend to avoid conflict, which means they may hesitate to challenge suspicious behavior or question too-good-to-be-true investment opportunities. Once emotionally invested, they can find it difficult to walk away, even when red flags appear.  

Extraversion

Smit’s study showed that people high in Extraversion had the second highest susceptibility to online fraud. “When you think of Extraverts, they seek social company, they are outgoing, and they have confidence in social settings. The research shows that Extraverts are more likely to engage on social networks and things like that,” Smit explained. This engagement puts them directly in the environments where scammers are operating—places like social media, online forums and dating apps. 

This high level of engagement means they are more likely to come across scammers posing as friendly, trustworthy figures. Their impulsivity and tendency to seek excitement can also make them more susceptible to fraudulent schemes that promise high returns and thrilling opportunities. 

High Openness

Openness is a third indicator of who falls for online scams. High Openness is associated with curiosity, creativity and a willingness to explore new experiences. These traits can lead individuals to try out new apps, websites and investment opportunities—where scammers lurk. High Openness individuals are naturally drawn to novel experiences and may be more inclined to take risks, making them easier targets for sophisticated financial deception. 

A 2023 study revealed that the success of phishing scams, a component of the pig butcher scam, is contingent on the victim’s level of trust and perceived risk. A higher level of Openness contributes to a lower level of perceived risk, making people high in Openness more likely to fall for these scams.

Why Are People High in Neuroticism and Conscientiousness Less at Risk?

The same research shows that Neuroticism, often associated with anxiety and worry, might actually serve as a protective factor against scams. 

Individuals high in Neuroticism tend to overanalyze situations, second-guess their decisions and expect the worst-case scenario. This heightened sense of caution makes them less likely to trust online acquaintances or engage in risky financial activities without extensive vetting. Their natural skepticism acts as a built-in defense mechanism against fraudsters who rely on building trust over time.  And ironically, their low self-esteem gives them some layer of protection against scams. “Neurotic individuals have low self-esteem, and they exhibit high levels of anxiety. They are more likely to withdraw, and this character trait protects them from social engineering (fraud),” Smit said in his podcast interview.

The traits of Conscientiousness also serve as a protection to online fraud. Those who rank high in Conscientiousness are structured, detail-oriented and cautious. They meticulously research information before making decisions and are less likely to act impulsively—qualities that work against scammers’ tactics. Fraud schemes, including pig butcher scams, often rely on urgency and emotional manipulation to push victims into quick decisions. Conscientious individuals, however, take their time, scrutinize details, and seek out reliable sources before committing to anything, making them far less susceptible.

In a different podcast interview, cyber security expert Perry Carpenter explained why this is so important. “The biggest thing you can do to get an upper hand on these scams is just stop and take a breath. If you feel yourself revving up, ask yourself, “why am I doing this?” There are very few things in life where we pay a price for slowing down,” he said.

The Healing Journey

After falling victim to the pig butcher scam, Maria took the Big Five personality test. Not surprisingly, she scored high in Agreeableness and Openness.

“I wanted to be cooperative with the "broker." We developed a friendly rapport, and that clouded my judgment and made me miss red flags,” she reflects upon seeing her high Agreeableness score.  Maria’s high score in Openness made her more inclined to participate in an investment she didn’t fully understand, further amplifying her vulnerability.

Interestingly, Maria scored high in Conscientiousness, a trait that typically provides protection against scams. However, this only highlights the incredible skill of fraudsters in psychological manipulation. The so-called ‘broker’ expertly employed tactics of time pressure, urgency and the fear of missing out, which pushed Maria to act against her usual, more cautious nature. 

“I found myself doing things I wouldn’t normally do,” Maria explains. “The pressure to act quickly clouded my judgment. Instead of being methodical, I acted impulsively, and lost my clarity.'"

Her scores in Neuroticism and Extraversion were in the average range, neither protecting her nor making her more at risk.

Maria and her husband have come to terms with their loss, but she highlights three steps that have helped her heal. First, she reported the incident to authorities, ensuring her case was documented. Next, she and her husband opened a new bank account to rebuild their daughter’s college fund. Starting over is difficult, but they are moving forward. Finally, she agreed to share her story in this piece. “If even one person reads my experience and avoids a pig butcher scam, at least something good will come out of it,” she says.

How vulnerable are you to a pig butcher scam? Take the Big 5 Personality test to find out.

*Maria's name has been changed to protect her privacy.