How to identify scam

On September 3, 2018, in English, Financial, General, General | Awareness, by Kok mING

Recently, many connections from my social circles had approached me and telling me some really awesome money making plans in this case, mia491.com and Summico. These come to me more than thrice for this week. It triggers my nerves to write something here.

Common sense #1
There are no free lunch in this world. When people talk to you about a good plan and want to bring you to make money together. I tell you, right away, I mean right away, UNFRIEND them. A real and good friend, won’t talk you to a good plan and ask you to throw money to it while he enjoys/shares your success. Instead, the friend will give you the hard cold cash and tell you to use that money to do something which you always wanted to do. Ok? At the moment people coming to you and need you to folk out your hard earn money for a “good” plan. That’s sounds pretty funny for me. I do not know about you. I will always reply “Can I join and pay nothing? You loan me the initial modal, when I earn enough, I pay you back right away. You are my upline, sure you know me earn how much, I won’t run you la, Good friend”. Ok ah?

Common sense #2
Even you are not an Internet Savvy, it is still very easy to hit google.comand search for the Founders name. Both ponzi scheme I listed above, running by very successful and reputable person(s) —- Self claimed —- . You should not always believe on what people say. You best shot is to Google with your finger. If you type their name in google and the search didn’t return their names with their biography. Then check, whether any news about their successes. Lastly, go wikipedia and do a search on their name. If all the above returns nothing, I would not trust all story tellers who wanted you to join the good plan. Simply because, I do not believe that is such a big fortune drop till my door step and it brought by my “good” friend with a small “processing” fees. Always do your homework and do not blindly trust anyone. It is because perhaps your good friend is a victim too.

Common sense #3
Investment is refer to invest in an asset or item acquired with the goal of generating income or appreciation. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. Therefore, you should know your investment subject so you know why it worth the investment. MIA491 is fx investment, do you understand Forex or Commodities trading? You know what is Long and Short? Spread? Summico is blockchain, so do you know about cryptocurrency? Do you have a crypto wallet? You know how and what specification of the ICO for your investment? If you know nothing about your investment, probably, you are not investing. You are HOPING, wishing that the money you “invest” on the subject, can bring you wealth. I never encourage this type of mentality. It is more harmful than good, it is like spending $ into something you will never used by you hope the value increase in future. How much you know about the sustainability and reliability of this subject?

Common sense #4
Do not do anything which risking more than you can take. No explanations needed. Just don’t commit on what you couldn’t afford. No one got rich by a big risk appetite without the expertise in the area of success.

Scam, is easy to identify. But to take people back from the trap, it is tough because they are trapped with limited vision. I hope the above helps someone but we will never short of scam victim.

 


 

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