Tuesday, May 02, 2006

Common online scams

Before investing any money in online programs, please understand some of them are a risky opportunities, ponzi schemes or pure scams and should not be used as an investment or work.

Nigerian Scam:
The scammer offers the recipient the chance to share in a percentage of millions of dollars, soliciting for help in placing large sums of money in overseas bank accounts. Communicaion via email, telephone or fax.Tip: Do not answer. Do not travel overseas.
Investment fraud Investment fraud is an offer using false or fraudulent claims to solicit investments.
Tip: Search for reference, do not spend what you cannot afford to lose.
Foreign lottery fraud:
Many foreign lottery scammers take your money and don’t even buy the tickets. Some scammers will tell you you’ve won and try to charge you a fee to collect nonexistent winnings.
Tip: Do not play foreign lottery. It’s illegal in USA and many other countries. Do not pay in advance for your winnings:)
Phishing fraud:
PhishingScammer steal your bank, ecurrency acount, password, security number data. Email / popup message usualy says that you need to validate or update your account info.
Tip: Never click links in emails asking similar info. If you are not sure, simply go directly to website.
Ponzi scheme:
The term Ponzi is derived from the actions of a man names Charles K Ponzi. It is any program or claimed investment opportunity which relies on new investments to pay off the older ones. Those whom invest first are thus paid their returns from those who invest after them, leaving the last investors the ones who lose out. Many HYIPs who claim to be trading, investing, etc are really only running a ponzi scheme. Some have also compared the US Social Security system to a ponzi scheme.
Tip: Do not invest with get rich quick schemes.


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