The 8 Most Common Make Money Online Scams You Don’t know Exist
Make money online scams today is no longer a news. In fact, very many people in search of ways to earn a living online have ended up being scammed by online fraudsters.
I guess you’re reading this article today either because you have once been a victim or are scared of becoming a prey to this and so want to guard against it. Don’t panic! All you need is sufficient information on the various types of make money online scams and how to steer clear of them.
What is an online scam?
An online scam in a simple word is a general way to define the different types of fraud that consumers or web surfers face when using the Internet . Scammers make use of technical tools or ‘social engineering’ techniques to get consumer’s personal information with different objectives, but usually with the intention to get consumer’s or internet user’s money.
Types of Onlines Scams
Type #1- Getting Paid For Filling Out Surveys
There are numerous good-for-nothing paid surveys on the web that rewards you for helping them complete surveys. But many of these survey companies pay only in terms of points and never in cash.
Upon your accumulating adequate points, then you are entitled to exchange the points for goods. Imagine what? This simply means you might go about accumulating your points until next year.
Type #2 – Chain Letters
Sounds familiar? I guess you say so! Except you’re just coming online, you probably have come across these chain emails.
In this type of email, you’re only asked to send the email with money by mail to certain names given to you at the top of a list. Following this is adding your name to the bottom.
This is a very dubious scheme as often there is maneuvering of the names in the chain emails to ensure that only those people at the top of the list get money if there is any at all.
Type #3 – Pyramid Schemes
This is one of the common and most harmful online marketing scams. Here you’re required to make an advance investment which at times could be very little, and in exchange you will get a huge investment for the first few weeks or days.
When you look at this, it sounds very reasonable but a bit descriptive in details. The scheme explains with random testimonials more on what investment you could embark on with the additional money. The risky aspect of it is you did get a return for your investment at the start.
This is to entice you to bring more money as well people to the scheme as you would have been convinced of the operation. People, by their nature, get excessively emotional when they earn money doing nothing.
Being this excited they forget sound practical judgement for a chance of prospect, just as in lottery tickets, they think their instincts work, and go about investing even more money.
Type #4 – Doing Online Typists, Virtual Assistants, Data Entry jobs
A lot of people offer these as a means of earning handsome amounts of dollars a day, only by typing from home. Data entry and Typists jobs are not so demanded. You will be expected to have the ability of typing accurately and, at the same time, fast.
The work changes and can be done in law firms, medical organizations, or Mortgage companies to mention just a few. You can earn like 7 to 9 bucks an hour doing uninteresting and repetitive tasks in an organization.
As for Virtual assistants they assist users in websites involving questions, such as with credit cards or in hosting entities. Also, the demand and the pay for this isn’t surprisingly huge as advertised.
You see numerous testimonials of people who have earned money this way.
People can become very keen after earning money from these kind of programs, however the truth is if you’re of the fortunate few that gains from them, you’re still enriching the company the more and the very many who sign under you, will end up in net loss.
It’s all about sweet talk, convincing themselves, and trying to get others to prove valid their ignorance by making you join and agree with them.
Type #5 – BULLETIN BOARDS
Bulletin boards scam have proven useful to online fraudsters. These simply involve the location where a lot of people share information with one another.
These are used by a good number of internet fraudsters by offering schemes to surfers/subscribers of such boards. For example, if a fraudster aims at defrauding securities investors, he uses the message boards to send a false “first hand” information particular corporations or stocks.
This medium is the most favorite avenue to most fraudsters as it gives them the advantage of not disclosing their real identities with the availability of option to use aliases.
By using different aliases, a fraudster can easily make it look as if different people are in possession of similar privileged information or share similar views just as the fraudster does.
Type #6 – Online Investment Fraud
This type of online fraud is becoming common nowadays.
Today there is a great number of firms or brokers giving clientele with high rewards to manage their accounts on the net.
Again, many websites within the recent times have come up rendering financial consultancy services. It’s not disputable that though many of these websites offer truthful and worthy advice and news on certain corporations and stocks, nevertheless the web surfers should be careful.
According to the study recently carried out by the news division of the American Broadcasting Company (ABCNews.com) owned by the Disney Media Networks division of The Walt Disney Company, it was discovered that 7 million Americans trade investments using the internet.
This number indicates that of all investments trade engaged in by every investors, approximately twenty five percent are done online. Considering this amazingly great number, one can understand undoubtedly why a lot of fraudsters target individuals who manage their investment portfolios through the net.
When trying to perpetrate investment fraud, fraudsters have different tactics they use. One of these is by generating and sharing online newsletters.
These newsletters are widely seen on web sites through emails or bulletin boards, and are always without no subscription fee. And these newsletters are really legitimate.
It is believed that lots of business firms legally pay people to make and distribute newsletters aiming at promoting their businesses. At any particular time, hundreds of thousands of such newsletters may be found on cyberspace.
However, there is always a difficulty for the normal web user/individual online investor to know the lawfulness of the information given in the newsletters. A little dedication of time and effort in creating the newsletter and making it attention grabbing to the human eye, is all the fraudster needs, and with this, he may be successful in deceiving few of his targeted audience.
With the information they get from such newsletters, many investors may decide to choose between selling or buying a given stock shown in the newsletter. One needs not being an exceptionally intellectual to know that a fraudster can gain greatly from either selling or investing in the stocks he features in his newsletters.
Type #7 – Offshore fraud
Offshore fraud is another type of online fraud which involves investments in overseas markets or nations. In this type of business as unlike offline business has no barriers as the use of internet has eliminated all barriers.
But this does not means that it is without risks as you are dealing with people or ventures not within your own country and as such it’s difficult to investigate whether the investor have any feelings of fraud.
Type #8 – Multi-Level-Marketing (MLM)
MLM is an acronym for multi-level marketing. It’s a business model involving running of franchising in which you sell services or products on behalf of a company that offers such products or services and you in return get a percentage of the revenues realised.
Another form of this is you pay for hyper inflated products or forms then depending on telling other people to do the same for cash. No legitimate MLM companies will require a subscription fee!
In conclusion, Online fraudsters have several ways of employing the web to design their plan to lure others into action. You have seen various types make money online scams used by internet fraudsters. Now, be weary and avoid falling a prey to them.
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