The rate at which people get scammed is alarming.
There has been a significant increase in the number of scams reported globally and this has put the global financial community on high alert. Warnings and measures have been put in place to protect people around the world from being scammed. Yet many still fall prey every day.
I have told John to not participate in any scheme that promises a huge return within a very short time limit with zero effort from him. I also told him about the importance of DYOR before investing his money into any platform no matter how reliable people claim it is.
But today, I saw him with a long face. I inquired into what the problem was. He was reluctant to tell me but finally did.
He was invited by his close friend to invest in an alleged reliable scheme that would triple his investment in 72 hours. He invested the money he has been saving for rent that will be due at the end of November. His joyful anticipation of something huge turned into premium tears. 72 hours later, the promised amount appeared on his dashboard and he happily requested withdrawal. It's been 5 days now, he has not received the withdrawn amount. He checked this morning to see that the site has crashed.
Who is to blame?
Even with the awareness and warnings people still fall victim to cheap scams. Why?
The two major reasons why people fall for cheap scams include:
You fall for cheap scams because you are very greedy. You want to invest $100 and get $500 within 45 minutes without doing anything.
Another reason why you fall for cheap scams is that you are lazy. You don't want to ever work hard in your life.
You are always looking for an easy way out. So when they tell you to invest $200 to get $1000 with zero effort, you quickly empty your bank account or even borrow money because they have promised to do the work for you.
Well, your greed and laziness will always end in tears and sorrow just like these:
15 million Naira lost to the Ponzi scheme.
They probably wanted to cash out within the first 3 months before the platform crashes but they met their Waterloo. Imagine that they invested this 15 million in a business or stock or real estate or even cryptocurrencyncy like BCH, BTC, ETH, etc.
Borrowed money, shop rent, and even money for child CS delivery - all lost to scams.
But if it is to start a viable business they can't borrow the money, they will never touch their shop rent.
We are always responsible for the outcome of our decisions and action. The scam is rampant, scammers are smart and creative, let's be careful and protect ourselves from being scammed.
The lead image was designed by Teguhjatipras from Pixabay.