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The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...
Alternatively, scammers might list items for sale on online marketplaces, including social media platforms' marketplaces. The scammers might take someone's money and never send anything in return.
They use vague verbal guises such as "hedge futures trading", "high-yield investment programs", or "offshore investment" to describe their income strategy. It is common for the operator to take advantage of a lack of investor knowledge or competence, or sometimes claim to use a proprietary, secret investment strategy to avoid giving information ...
A sucker list is a list of people who have previously fallen for a scam such as a telemarketing fraud, lottery scam, high-yield investment program, get-rich-quick scheme, or work-at-home schemes, or, as used by charities, someone who made a donation. The lists are usually sold to scammers or charities. [1] [2] [3]
“Investment scams always promise high, unrealistic returns with little or no risk,” McGlynn said. “Remember that if an offer seems too good to be true, the chances of it being true are remote.
All investments carry some degree of risk, but there's a distinct line between a risky investment and a downright scam. Unfortunately, scams are prevalent. According to data from the Federal Trade...
Social media is full of scammers promising guaranteed returns on investment, and consumers lost billions of dollars to them last year. Troy Gochenour, 50, of Columbus, Ohio, was conned out of ...
The bogus escrow scam is a straightforward confidence trick in which a scammer operates a bogus escrow service. Escrow services are intended to ensure security by acting as a middleman in transactions where the two parties do not trust each other. Rather than sending money or goods directly to the other party (which is insecure, as one or the ...