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A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. [1]
Business impersonation scams are the most reported type of financial fraud. According to a May report by the Federal Trade Commission (FTC), about 332,000 people fell victim to these scams in 2023 ...
“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.
Typically, Ponzi schemes require an initial investment and promise above-average returns. [21] 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 ...
Investment scams often rely on similar techniques, but without the crypto spin. The Better Business Bureau, or BBB, considered the combined crypto and investments scam to be the riskiest scam in ...
Profitable Sunrise was a Ponzi scheme that operated between 2012 and 2013, accepting deposits from members and promising returns on investment of 1.5% to 2.8% per business day, thousands of percent annualized. It solicited members around the world, particularly among Christian communities in the United States of America and in Canada.
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...
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]