Online scams: the art and their structure
Scamming has been a very early phenomenon in human history. Human ingenuity which is used to bring out innovations and inventions for the betterment of society has equally been applied to schemes and propagandas to earn money fast even if it involves cheating others. With the coming of the internet, a new era began. Traditional scammers found a new platform to develop a multitude of techniques to cheat the population online. Here are the few basic steps in which such a scam is organized and in a way propagates and cheats people.
This is the stage where these scammers usually set up a social media account and create a credible-looking site. The account and site will have lucrative pictures and images. They will have young attractive people posing in front of big houses or cars with bundles of cash. The scammers want to target the young and old population alike. By featuring this, they prey on people’s wishes to become successful and rich. By providing local addresses and contact numbers on their websites, they build up a sense of trust with anyone who ventures on their platform.
Arguably the most important part of the whole process of scamming. If properly projected at the target audience, a lot of people fall for these trade scams. The constant advertisements showing the easy and quick way to earn money entice people to just check out these options for once. After that, with an authentic feel and look at the sites, many do register for such schemes. The sites offer unrealistic data and show people how easy it is to invest money to get a lot of returns.
Bringing people into the chain of scamming is another thing this process includes. In the case of online pyramid schemes, the top-tiered trade scammers with the offer of giving high returns bring in people into their schemes to invest more money and get a share from it. The condition they pose is to bring more people into the scheme through the new appointees. Thus each recruit brings in more recruits and each gets a share for bringing new people. In such a chain the share earned by the top-tiered scammers becomes huge. And when no more people can be brought in, the people at the bottom of the pyramid, a huge number of people, lose a lot of money.
Many of the online scammers on the internet use what is called Ponzi schemes. Unlike pyramid schemes, here the structure is a bit different. The trade scammer usually entices the inexperienced crowd with lucrative sites and etc talked about in the initialization. Then the scammers using irrelevant terminologies like high return investment and offshore payments, try to convince the customers that they shall make a huge profit for the money they invest. After the investment is done by a party, they move on to the next party with the same offers. Now with the investment gained from one customer, the scammers pay the interest of other customers. They even provide other small payouts to customers to build up trust and increase their credibility. Ultimately when enough people have invested they pack up their business and vanish with all the invested money.
A lot of studies and statistics have shown that the trade scammers generally target the younger population who are generally inexperienced about the business dealings and want a shortcut to earn money fast. Studies also find that a population above 50 are also more prone to such scams due to the fact of not being accustomed to the internet. Besides, a lot of people from even the intermediate age groups fall for such scams. The scammers target the inexperienced online users. Sometimes they may even influence authority by claiming themselves to be government representatives.
The aforementioned details explain how the scamming process usually works. Though every day the scammers find newer, more ingenious ways of scamming people of their money online. Funds Recovery is an online platform that helps victims recover their lost funds in online trading scams. The company specializes in many kinds of online scam funds recovery and provides a hassle-free and fast method to get their lost money back.