==== ==== I sampled TEN online money making schemes over a three year period. Did I find a way to make money online? To find the answer to this experiment CLICK the link below. http://paulsblogstuff.wordpress.com ==== ====
With the growth of internet, online scams too have grown. These online scams trap gullible people into parting with their hard earned money for products or services that do not exist. There are certain online scams that specifically prey on people or businesses who are too busy to check on the details, while there are others that specifically target the elderly or people whose native tongue is not English. Some of the most popular online scams are listed below and you would be well advised to stay away from them. 1. Nigerian Letter Scam This is probably one of the best known online scams but it still manages to get people to part with their hard earned money. Invariably you receive an e-mail, usually written in capital letters and starts out like this: "DEAR SIR/MADAM: I REPRESENT THE RECENTLY DEPOSED MINISTER OF AGRICULTURE FOR NIGERIA, WHO HAS EMBEZZLED 30 MILLION DOLLARS FROM HIS STARVING COUNTRYMEN AND NOW NEEDS TO GET IT OUT OF THE COUNTRY..." The letter says the scammers are seeking an accomplice who will transfer the funds into their account for a cut of the total--usually around 30 percent. You will be asked to travel overseas to meet with the scammers and complete the necessary paperwork. But before the transaction can be finalized, you must pay thousands of dollars in "taxes," "attorney costs," "bribes," or other advance fees. However, there is no minister or money other than the money you paid in advance. Victims who travel overseas may find themselves physically threatened and not allowed to leave until they cough up the cash. This online scam is also referred as Nigerian 419 Letter, where the 419 stands for the section of Nigeria's penal code that this online scam violates. 2.Lottery Scams In this online scam you will receive an email informing you that you have won a lottery or that the XYZ lottery company went into a draw for the distribution of unclaimed money and your email address was selected. You will be asked to make a payment, often in cash, for the money to be released and sent to you. Unfortunately, there is no money and you never hear from the XYZ company again.
Remember, if you have not purchased a lottery ticket it is unlikely that you could have won anything specially if you need to pay to claim it. Lottery companies and agencies do not work that way. 3.Online Auctions Unfortunately, as online auctions sites have increased in popularity so have the online scams associated with auction sites. Here the scammers place fictitious products for sale and once the auction is over, the highest bidder pays for the product which he/she never receives it. These online scammers are extremely difficult to trace. However, most auction sites have a strict rule and once a scammer is identified, they can no longer use the site. Another form of this online scam is seek out potential buyers through auction sites. The scammers then send them an email informing them that they can offer them the product the buyer is trying to buy on the auction site for less money. If you fall prey to this online scam, you can say bye to your money and you will never see the product. 4. Online Investments This is one of the most high risk, high return and popular scheme on the internet. Most of these are scam where you'll have the operator running away with you investment before you knew it. A lot of these schemes are also what is commonly known as "Ponzi scheme" where early investors are paid high returns to entice more funds to flow in. Basically, in this scheme investors are paid using the funds that it is attracting until such time it collapse under its out flow of funds. The victims are usually the later investors. Click on "Ponzi scheme" for more info. One of the example of such scheme that is still operating is the Swiss Cash Fund (1948). Following are some related links: - Malaysia Central Bank warning - Swiss cash domain Info - Warning on swiss cash One can still make some good returns in online investments as long as the pay out is not unbelievably high. Usually, a return of between 5% - 7% is a good measurement that it may be a legitimate concern. The GOLDEN RULE to follow when hunting for opportunity on the internet is to be vigilent and always do your research and due diligence checks to ensure that the opportunity is a sustainable entity. If you are one of those high risk takers -- do it with your extra, never, NEVER borrow to take a risk!
MunSeen is an Online Business practitioner, where his team had generated over $10,045 in sales within 24hrs without any website. If you want to know how this is done, click on the following link to learn the "Secret" of earning money online -- [http://www.getqualitytime.com]
Article Source: http://EzineArticles.com/?expert=MS_Foong
==== ==== I sampled TEN online money making schemes over a three year period. Did I find a way to make money online? To find the answer to this experiment CLICK the link below. http://paulsblogstuff.wordpress.com ==== ====