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Investor Scams on the Internetby Samo YanezicThe online technology revolution has helped everyone ( investor scams included ) around the world become more aware of business opportunities available online. With a market that is already captured and the cost quite cheap, the online community is prime grounds for a novice entrepreneur. When the online businesses suddenly grew to huge proportions, a lot of people were blinded by so many promises from opportunists. Of course, everyone wanted a piece of the wealth that online businesses can give, and at that time, it was easy to believe any offer that sounded straightforward. Some of these investor scams did not cost too much, while others swindled inexperienced people out of thousands of dollars. Over time, people grew more wary of investing online, and for good reason. While we are not saying that all online investing is fraudulous, it is but human to say that we should all look before we leap. There are still a horde of legal businesses on the net that can add to our savings; the only thing we need to do is to find which ones these are. With the financial market suffering so much from the turn of events over the last few years, a new type of investor scam was born. Before, it was all uncomplicated maneuvering of people’s mind to think that they can grow rich by all the networking and pyramid-structured industries. Now, the fraud has evolved to become more complex, feeding on the person’s instinct to survive. The financial crunch has created money troubles for all of us and some people, especially the elderly, have experienced anxiety and stress over their dwindling retirement savings. The scammers use this to manipulate these people to believe empty promises. For instance, investing on stocks; if you know that your stocks are worth zilch in the money market and you are looking for a way to get rid of it but still getting back some of the money you have put in, what do you do? You try to make your portfolio look like it’s going to bounce back in no time and that it would actually be worth so much more in the future. That is the way things go. But fraudsters take this to a new level by creating false information about their stocks, the stocks of people who are paying them, and/or the companies or corporations that are selling these stocks. The Internet is one of the easiest, cost-effective means to achieve this goal of making worthless stocks smell and look great by distributing newsletters, articles all over, and even personal letters to targets. A very common investor scam is called the Ponzi. It may go by other names now but the structure is still the same; get investors in by the promise of high rewards. Once you get some in, pay off the previous investors by that money. There are actually no sticks, merchandise, or anything else that you are investing on. Once you put your money in, it’s gone to other people. Hopefully it would not be your unfortunate luck to be found at the end of the rope. The age of the Internet is beneficial to the human race. Nevertheless, care and intelligent discretion is still very necessary to make it work to our advantage without stepping on other people’s toes.
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