If you are looking for a suitable opportunity to make money online, then you need to be aware of the money making scams online as well. Countless people have been misled and scammed online but it’s not entirely their fault. The public has not often been educated enough about these online money making scams.
Here are the 4 common scams to be wary of:
Scam 1 – Nigerian Scam
Very few people fall for this yet these scammers still manage to fool people out of hundreds of thousands of dollars every year. Typically, the scammer will email a bulk list of gathered emails and claim in his email that he is a wealthy person who needs assistance in transferring his funds. In doing so, he promises a portion of the money to you. But there is a ‘fee’ required to assist him. Obviously, it’s a scam! Another one similar to the Nigerian scam is of course an email that says you have won a huge cash prize and you have to pay a fee to allow for ‘smooth transfer’ of the money.
Scam 2 – Pyramid Scheme
This is a scheme that on the surface appears no different from a legal network marketing arrangement. But look deeper and you’ll see that there is something shady going on. The way network companies work is based on marketers selling products directly. The way pyramid schemes work is that marketers earn money based on how many people they recruit, the product is secondary. In such a scheme, the people at the top usually earn the most, while the people at the bottom struggle.
Scam 3 – High-Yield Investment Programs (HYIPs)
A high-yield investment program (also known as a Ponzi scheme) works as such: it promises high returns to the investor, but the returns are made from previous investments from other investors. This arrangement is not sustainable in the long run and is doomed to collapse. An example is the high-profile case of the Bernie Madoff Ponzi scheme, which scammed people out of a total of 50 million dollars.
Scam 4 – ‘Make Money With No Work’ Scams
These are more mild ‘scams’, but no less money sucking. These programs promise that you will make money without doing any work, and that all the work will be done for you. Don’t believe any of that. Most of these opportunities are either unsustainable or are ‘one size fits all’ solutions that are ineffective. To make a real income online, you will have to work for it.
Hopefully, you have gained knowledge from this article and can now avoid the money making scams that pervade the Internet!
Want to learn about a home business system that is not one of those money making scams?