Wireless technology such as mobile phones and
WiFi internet access undeniably facilitated the growth of business. However, this same technology is being exploited by some unscrupulous groups and individuals to swindle other people. Being fooled by hoaxers is not a matter of intellectual deficiency. Even intelligent can be people fooled by some fraudulent claims. Investors and philanthropists are victimized because they do not possess accurate information. Fraud perpetrators rely on the good intention and trust of other people. For instance, false charitable foundations may be set up to lure donors.
Philanthropists and investors should be wary about certain claims. One fraudulent method is using the names of prime banks.
Prime banks are the top fifty banks in the world. Prime banks usually trade using low risk transaction instruments such as IMF bonds and Federal Reserve notes. An investor should be cautious when the names of prime banks are used in investment offers.
Fraudsters will usually claim legitimacy by convincing investors that their money will be used to buy prime bank instruments. They will promise
dizzying returns for every investment. However, these trade instruments are often counterfeited.
