The Most Common Scams On the Market That Want to Steal Your Money

People are still looking for the magic formula to become millionaires. They look for ways to turn their few cents into millions overnight. This can put your money at risk.

Who wants to steal your money?

Probably because these people still exist, others are creating “business or investments” to steal your money. Here is a list of the most used strategies to get your money.The Most Common Scams On the Market That Want to Steal Your Money2

Pyramids Scams

Each time new names come out but they really come to be the same strategy. The principle is basic promise big profits asking you to recruit 5 or 10 people in the same situation as you.

Once people stop recruiting others it is that the whole plan is coming down. The profits of the others are the income of people. Thus the system stops growing.

Cryptomonad

Publicity brochures about this type of investment are also beginning to circulate. Much like how bitcoins work. But if you read carefully, it is just another pyramid system. Big profits and promises are being made to recruit more people.

Investments in business

In this case, it can be legally and illegally. Business really can exist or can be completely fictitious. It can be an investment in real estate, in vending machines, in mobile phone equipment, etc. You should only sign a contract stating that the company will manage all the assets and you will only see the profits. As in all the investments, you will be receiving a fixed monthly payment that comes being the yields.

Check This Out: How To Deal With An Economic Crisis

Before entering into this type of business, investigate a little about how the annual return is on other investments and financial markets. Usually, they are usually much lower than what these companies promise.

Think carefully if they were legitimate companies can simply apply for a loan or a loan with rates much lower than what they end up paying investors. They probably pay the fixed startup yield but then they cannot do it anymore.The Most Common Scams On the Market That Want to Steal Your Money1

Inheritance and millionaire people

This type of scam already has a lot of time circulating. It consists mainly of receiving an email or contact through social networks. Basically, some distant family that you have never heard of has left you a lot of money. Another example might be that someone wealthy in some conflict country, how could it be in Africa, is interested in getting their money out of the country. For that, you must lend your account and bank details. But first, you must give a monetary contribution for the payment of paperwork.

You May See Also: What is the structure of a business plan?

Once the ambition of the people has been touched and this transfer has been made, these people are not heard.

These types of scams exist mainly because people want to see quick results, want to make money or need money. They do not want to make efforts and this is where other people take advantage.

Keep in mind that you need to apply strategies and time to make profits and returns.

Leave a Reply

Your email address will not be published. Required fields are marked *