Scam Investment

Getting prevalent here is the investment scams that offer a high rate of interest for your investment. The spiel is like this - your 10,000 will earn 2,000 in one month. And it will. But then you will be asked to roll over that 12,000 that in effect your 10,000 is still swimming. And even if your money totals more than double of your investment, it would only be on paper and you cannot handle it. Upon withdrawal, that's the time that the broker will become scarce.

Last year, even the mayor of Pagadian city was fooled in such a scam that he had invested his own milliions and was left with nothing. Worse, he had introduced the scheme to his constituents so now he is in jail for that.

 

If it sounds too good to be true you can bet it is.

It's hard to make money on any investment these days. The stock market including mutual funds, hasn't been good. CD's and Money Market accounts pay almost nothing. So people get frustrated with normal investments and the scammers come out to play.

 

Another scam investment is the so called old coins trick. When we were renting an apartment, a neighbor knocked to introduce his cousin who came from the province. That guy had a small cloth bag that contained old coins. On the table, he lined up the coins for us to inspect. A peso coin dated 1903 looked genuine likewise with the other denomination like the 50 centavos dated 1936. He is selling old coins at cheap prices. However, we have to invest money because the coins come from the treasure hunters in their place. There is an upcoming treasure hunt that needed funding. Naturally, he would say that the treasure is a sure shot because of the indications.

That's a scam.

 

Scam investments are always there to get hooked up those seeking to make large amounts of money the easy way.

Worst thing is that once a scam is debunked, two or three more emerge, and therefore being cautious and double check a "wonderful" deal is always advisable.

 

I really wonder why despite the warnings and regular information about the scams, there are still those who fall for those promises. From what I see, it is the greed of the people that is making them a victim of scams. Why would you invest in something that is too good to be true? Putting in money to the hands of strangers on the promise of earning 20% interest in 2 weeks or 1 month without doing anything, isn't it absurd? That's why in my sojourn in the digital world for something to earn, I automatically exit from sites that say I need to invest, no matter if it is 1 dollar or 1 cent. A scam is a scam, okay?

 

I totally agree with you! And the worst part of this is when such scams do not come as potential investments, but as job opportunities.

Precisely, there a sites offering an opportunity to make money and supposedly not asking for money, but once you get into, they give the "wonderful option" to make money easier and faster by "buying" referrals when it comes to pay per click sites, or to pay for a "VIP/gold membership" in the case of freelance writing sites, in order to gain access to best paid gigs and less rejection chances.

Whichever site asking for money backed by unclear money-making schemes is likely scam, no doubt.

 

First of all I can't see investing such an amount of money. But obviously there are those who would do this otherwise such investment scams wouldn't be out there. But for me just reading what was illustrated here was enough of a red flag for me not to have signed up even if I had such money to invest. Which I don't so I guess that's a good thing in itself.

 

The scammers are very terrible! It's a good idea to check the BBB about different kinds of deals. Then to check your bank for information about the kind of deals that are floating around. It's a better & safer way to do business when you check with reputable businesses already known about deals. Chances are if it sounds too good to be true it usually is. Another good place to check for scams is the FBI.gov. At FBI.gov they've the latest scams on their site. Be careful when investing your money is the rule of thumb and another rule is to ask about it with reputable businesses like banks and insurance companies.

 

This is commonly known to as HYIP (High-Yield Investment Program, and you would be surprised to see how many forums trying to get investors upon this scheme are in the underground Internet and gray market

HYIPs, Forex, eGold and Bitcoin and crypto-currencies are common scams in such online places, but I have heard in some cities where there are brick and mortar offices to rip off people this way.

 

Scams not only take advantage of the greedy, but also of the desperate. There are a lot of people who are struggling, and sometimes a venture sounds as if it offers a way out of a tough situation. Unfortunately, those without much to invest are often more easily duped, because they sometimes tend to be less educated, and less familiar with investments, so aren't always able to discern between legitimate opportunities and scams.

 

There is a new scam in the internet although it caters to Filipinos only. It even uses a name similar to the popular name of a noontime show sitcom called Kalyeserye. The scheme is for you to invest 1,000 that will yield 1,400 in a week's time. But here is the catch, you need to recruit a number of newbies before you can earn. Clearly, it is a scam because you earn from what you recruit and your recruits would earn from their recruits. Now, what happens when there are no more people to recruit? You lose your investment.