easily deceived or cheated.
Also, gullable.

1815–25; gull2 + -ible

gullibility, noun
gullibly, adverb

credulous, trusting, naive, innocent, simple, green. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
gullible (ˈɡʌləbəl)
easily taken in or tricked

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1793 (implied in gullibility), earlier cullibility (1728), probably connected to gull, a cant term for "dupe, sucker" (1594), which is of uncertain origin. It is perhaps from the bird (see gull (n.)), or from verb gull "to swallow" (1530, from O.Fr. goule, from L. gula "throat,"
see gullet); in either case with a sense of "someone who will swallow anything thrown at him." Another possibility is M.E. dial. gull "newly hatched bird" (1382), which is perhaps from O.N. golr "yellow," from the hue of its down.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Someone is making a fortune on the gullibility of people.
And he thrived in an era of cheap credit, when greed and gullibility became far
  more powerful than fear and suspicion.
But beneath all this playacting and conceit and gullibility was a pith of
Fraud victims often lack support from family and friends, who blame them or
  make fun of them for their gullibility.
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