Don’t Waste Time on “Get Rich Quick” Scams

It is safe to say that ‘get instant rich’ or ‘get rich quick’ schemes are fraudsters’ strategies to launder money from people. The sad truth is that people still fall to the convincing tactics of these fraudsters even after warnings from previous losers. Most of the proponents of these ‘get rich quick’ schemes attempt to lure people by bank guarantees, federal reserve notes, bonds, and gold bearer shares.
You do not need to waste your time trying out the types of schemes to find out whether you will benefit because they are already proven fraudulent. You will not be finding what you expected to earn in the end. Most people have already fallen victim, and it will only be unreasonable to try it out for the sake of wishing you would be the lucky one. Many people are lured because of the desperation of making an easy income.
Sadly, some of the agents sent out to recruit more participants into the scheme are clueless about the illegality of what they support. They are vibrant and convinced about the authenticity of the scheme when in fact; they also stand to lose. By the time they realize they are losing, it will be too late to recover their time and money. They end up frustrate and dejected.

How they Work

Get-rich-quick schemes are based on how banking instruments transfer credit. This traditional structure forms the basis of how the scheme will work to benefit you. Since the banking sector is one of the most reliable industries in the world, you are likely to agree and be carried away by the genuineness of the deal. The marketer of such a scheme will explain how it relates to the business process employed in the banking sector. For example, they will use common phrases and statements used in the official financial world. They are, however, meaningless and useless.
The fraudsters also refer to the involvement of solicitors in an effort the convince customers and yield loyalty. The solicitors mentioned range from genuine firms, which are unaware that their reputation is used to market other firms. These would-be stakeholders are not only ignorant about the whole issue but also helpless in defending themselves to the customers.
You will be required to release a specified amount upfront. You will be expecting a huge financial gain from a small investment. These gains are often impractical in real life but can be explained convincingly by the get-rich-quick schemes. Unfortunately, but easily predictably too, you will not be receiving the amount promised. Instead, there will be more explanations of for example; why you should invest some more and practice extra patience.
To earn your trust, you will be required to produce your personal details and identity. The risk is; your identity could be stolen and be used to gain credit or loans without your knowledge.

Pyramid Schemes

Pyramid schemes are one of the most common forms of a ‘get-rich-quick’ scheme. The scheme will be used here to illustrate how fraudulent schemes are easy to join but quickly dry away and break families with their disintegration. It is illegal and costs participants most of their money and even life savings. It is spread easily by members of family, friends, and neighbors who are clueless about the illegality of the scheme. The scheme conducts meetings such as seminars and mostly in homes. Today, due to advancement in technology, traditional over-the-phone meetings have been replaced by social media posts.
They require payment before joining and spread the news to recruit more people who will be parting with cash as well. The logic is; for reasonable profits, there has to be an endless supply of new members. Soon, when there are no enough members to generate the amount, the scheme eventually dries away as soon as it started.
What you may not know is that the leaders at the top of the organization, make money by collecting the money brought by new recruits. These fraudsters pocket the hard investments of the junior and newer members. Beware that only a few people stand to gain from pyramid schemes and this is the same with other ‘get-rich-quick’ swindles. When it finally collapses, it brings detrimental effects to not only the members but also their families and relationships because of the great time and investments incurred.

Warning signs

There are tell-tale signs that you are about to be swindled by a ‘get-rich-quick’ scam when you observe the following;

1. A group that requires you to recruit other members. You are expected to benefit from their inclusion to make money depending on how many they are.
2. The deal involves goods that are not easy to sell but stand to gain the interest of the firm.
3. There are upfront costs before you are confirmed as a member.
4. The promoter will be keen on defending the scheme by claiming that it is perfectly legal.

How to Respond

If you have been lured into a ‘get-rich-quick’ swindle, it is imperative that you contact the local police. Reporting to the nearest police upfront will secure your identity in case it is used in fraudulent activity without your knowledge. Be responsible enough to warn others too before they are swindled.