Monday, July 20, 2015

7 Unique Fraud Schemes which Looted Millions from Public

Ever heard of a Ponzi scheme? They are those fraudulent schemes or methods through which money is stolen from unsuspecting people, who often end up losing all their life savings. Such fraudulent schemes have been present on and off in different regions in the world, since centuries. We have worked hard for every penny that we have and we should be more careful with throwing away our money in a greedy attempt to make a quick buck. The methods have changed and now the new methods of fraud schemes are as follows;

7 Unique Fraud Schemes which Looted Millions from Public
  1. The typical double your money in 15 days scheme. This scheme has been done at least one time in every region of the world. The most popular case was from Asian sub continent, where a man with the alias of Mr. Double Shah stole upwards of $ 1.1 billion. His victims included Government officials, doctors, teachers and industrialists.
  2. The Gold Mine Scheme: These schemes are those which encourage you to sign up and you would get a commission of sorts to recruit more and more people. Schemes like these have also been tried and tested in every corner of the world. One such notable case came to light in Asia where a Norwegian company looted thousands of youngsters.
  3. The mobile lottery scheme: This particular scheme is implemented in countries or regions where there is little to no education and mostly rural lifestyle with little to no urban life experiences. People often call up or send an SMS stating that the person has won a lottery. They ask the person to show up to their office where they are mostly looted or are asked for some money to start the process after which the people abandon their fake office.
  4. Home based freelance jobs online: Since the arrival of the internet, more and more people are starting to work from their homes. Hence many schemers have also gotten onboard this home based job scheme. They distribute flyers and pamphlets and once somebody contacts them, they ask them to register with the service which costs money. After the registration they are either never contacted again or are given complex jobs which they leave themselves. I have written one article to tell readers about the legitimate ways of earning money online in Saudi Arabia. You can read it here “How to Earn Money Online in Saudi Arabia?
  5. Visa and Foreign Employment frauds: The labor class is victim to these types of schemes and has been so, for many years. When these visa service or employment service companies are contacted they usually ask for a registration fee after which they disappear. If they are lucky enough to get a visa, they are offered no jobs or services in the foreign land forcing them to come back home.
  6. Data Entry and Captcha jobs: This is another sort of common internet fraud. Unlike the home based work fraud, these people actually have offices where you go and work, however the victims must pay a registration fee. After registration people are given such impossible tasks that they often leave in the first month.
  7. Rare investment opportunities: Much like the first scheme, this scheme too offers a lucrative investment opportunity; these people spend money on giving you an image of their wealth or their prosperous business however once you make the investment things go south. Some claim that the business failed while some simply disappear.

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