A prestigious and highly respected association of securities administrators recently released their list of top 10 financial scams and financials that we should avoid.
- Affinity Fraud – The con artist makes use of the attraction by affinity anchored on religious orientation, ethnic group, cultural and even professional affiliation. It is when people identify with the scammers is where they are most vulnerable.
- FOREX Trading Scams – The fraud is consummated by utilizing sophisticated-sounding jargons to confound and confuse would-be victims. A safe rule is that if you don’t understand, don’t invest.
- Internet Scams – The Web is actually a scammer’s dream. They can go about doing their nefarious things with nary a trace of their identity and location. They contact their victims through emails and bogus websites promising huge returns.
- Gas and Oil Fraud – Most scammers would force unsuspecting victims to part with their precious dollars to invest in commodity futures. This type of investment is very risky and can potentially wipe out all your money if you fall for this kind of fraud.
- Investment Seminar Scams – This one we must avoid as they have a way of hooking you to their nefarious schemes of investing in high risk ventures.
- Prime Bank Fraud – We should remember that there is no such thing as prime banks and the only pockets that get fat are the pockets of the scammers.
- Private Securities Scams – Research on Rule 506 of Regulation D of the Securities Act when offered by high yielding private securities. In most cases, these highly questionable offers violate provisions of this Rule and don’t follow the process of full registration.
- Real Estate Investment Scams – This also follows the same line followed by the securities scams. This is not an offer for you to invest but to divest you of your precious money by defrauders.
- Bogus Products and Unlicensed Individuals – You should always verify of the person providing you with investment advice has the license and authority to do so. If you find that he does not have one, then it is better for you to forget about the whole thing.
- Inappropriate Sales – Scammers would make fantastic claims of profits and returns in order to force you to buy unsuitable products even if you don’t have a need for it in the first place.
Internet marketing; the ever-growing phenomenon that, everyday, introduces the prospect of making a living online to many. Consequently, success stories in the internet marketing field are not hard to come by and with no more than a quick glance at the vast online empires of the market leaders, it is easy to see that internet marketing can be a very lucrative alternative to ‘9 to 5’ work.
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