There's a sucker born every minute, so they say. Every minute, there's some conniving scammer born who preys on these poor suckers. Every one hated to be a butt of anybody else's joke. But nothing compares to being conned by investment scams. If you don't want to be the unwitting dupe of investment scams, you should read on. These are just five of the top five scams that are widely popular.
Ponzi schemes-- who hasn't heard of them? I'm sure you know of some who have been a victim of this. Named after the con artist Charles Ponzi, this scheme's method is easy-- pay your previous investors with the money you get from your current investors. Another scam is the affinity grouping where most people that were victimized were part of ethnic and religious groups. Key here is not to trust anyone with your life savings, even if he's from the same church or ethnicity as you. Promissory notes are often made by insurance agents who promises high revenue if you would lend their company some money. The thing here is that there is no company, therefore, there wouldn't be any returns for you.
The Internet also fast became a breeding ground for scammers, thanks to
annoying spam mails. These scammers send you an email, claiming they are some government official from somewhere and asks you to help them through depositing money on some bank account. In exchange for your help, they would deposit money on your bank account and would ask for you account number. Before you know it, these creeps have already exhausted your account. You should also not easily trust insurance agents who sells securities. If you want to buy a security, check first with the securities regulator in your state whether the agent is registered or not. If not, don't invest. Some of these independent agents are scammers.
To avoid all these
tricky scams, or any type of scam for that matter, keep one thing in mind-- if it's too good to be true, it's a scam. Always ask around regarding a certain investment. It is very important that you know where you're investing your money.
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Tracked: Aug 30, 22:31
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