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Detecting Lies in the Financial Industry

Don't rely on physical cues, expert says.

Ashley Redmond 14.02.2014

Figuring out if someone is lying is sometimes difficult, but many think it can be done. Conventional wisdom has it that the most reliable way is to look for classic non-verbal cues, such as not making eye contact, sweating profusely, and fidgeting with hands.

This belief that you can detect when someone is lying through non-verbal signals is transcontinental. A global study done in 2006 by The Global Deception Research Team reveals that across 82 nations, close to 75% of people believe that the biggest giveaway when someone is lying is through their eyes, specifically gaze aversion.

Unfortunately, this is simply not true, says Maria Hartwig, associate professor of psychology at City University of New York and co-author of Detecting Lies in the Financial Industry: A Survey of Investment Professionals' Beliefs.

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About Author

Ashley Redmond  Ashley Redmond is an associate Editor with Morningstar Canada 

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