Confidence trick

Terminology

The confidence trick is also (non-exhaustively) known as a con game, con, scam, grift, hustle, bunko, swindle, flim flam, gaffle or bamboozle. The intended victim(s) are known as marks. The perpetrator of a confidence trick is often referred to as a confidence man/woman, con man/woman, con artist or grifter. When accomplices are employed, they are known as shills.
In David Mamet's film House of Games, the main con artist gives a slightly different description of the "confidence game." He explains that, in a typical swindle, the con man gives the mark his own confidence, encouraging the mark to in turn trust him. The con artist thus poses as a trustworthy person seeking another trustworthy person.

History

The first known usage of the term "confidence man" in English was in 1849. It was used by American press during the United States trial of William Thompson. Thompson chatted with strangers until he asked if they had the confidence to lend him their watches, whereupon he would walk off with the watch. He was captured when a victim recognized him on the street.

Vulnerability to confidence tricks

Confidence tricks exploit typical human characteristics such as greed, dishonesty, vanity, honesty, compassion, credulity, irresponsibility, desperation, and naïveté. The common factor is that the victim (mark) relies on the good faith of the con artist.

Just as there is no typical profile for swindlers, neither is there one for their victims. Virtually anyone can fall prey to fraudulent crimes. ... Certainly victims of high-yield investment frauds may possess a level of greed which exceeds their caution as well as a willingness to believe what they want to believe. However, not all fraud victims are greedy, risk-taking, self-deceptive individuals looking to make a quick dollar. Nor are all fraud victims naïve, uneducated, or elderly.

A greedy or dishonest mark may attempt to out-cheat the con artist, only to discover that he or she has been manipulated into losing from the very beginning.
Shills, also known as accomplices, help manipulate the mark into accepting the con man's plan. In a traditional confidence trick, the mark is led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be strangers who have benefited from performing the task in the past.

http://www.thefreedictionary.com/con+artist