Investment Alert:
Affinity Fraud Explained By Money 2.0 Conference
Table of Contents
● Affinity Fraud: the definition ● The Main Targets of the Affinity Scam ● How to prevent Affinity Fraud?
Affinity Fraud: the Definition
● Members of recognizable groups, such as the elderly, and religious or ethnic groupings, are targeted in affinity frauds. Affinity scammers are frequently members of the group — or pretend to be members. ● They may seek the help of respected group members to publicize the program and persuade them that it is genuine and desirable. ● Affinity scams frequently feature "Ponzi" or pyramid schemes, in which fresh investor funds are utilized to pay out previous investors, giving the impression that the investment is successful and legal. ● These scammers take advantage of people's mutual trust and friendliness. Outsiders may be unaware of the affinity scam because of the intimate nature of many groups. ● Rather than notifying authorities or seeking legal remedies, victims may try to settle things out among themselves.
The Main Targets of the Affinity Scam
Elderly People
Religious Groups
Ethnic Communities
Uneducated Population
How to prevent Affinity Fraud?
Double check everything - no matter how well you know the person who brings the idea of investment to you. If something seems too good to be true, don’t believe it. Particularly, you must not fall for investment that promises skyrocketing profits or 100% guaranteed returns. If it is not in writing, it’s just not worth it. Ensure that everything you see, hear and invest is well-written. If the person is pressuring you to buy an investment and don’t give enough time to think about it, you must investigate the so called opportunity. Be aware of the e-mail spams as scammers are now using social media
The presentation was prepared by
Thank You
Vinayak Joshi, Manager, Money 2.0 Conference
https://www.money2conf.co m /