Wednesday, 3 December 2014

An official warning about Get Rich Quick schemes

A warning from the North American Securities Administrators Association:
"Have you ever seen an ad on the Internet or a posting on a social media site promising too-good-to-be-true rates of return in short periods of time? Then you may have encountered an advertisement for a high-yield investment program, sometimes referred to as an HYIP."
It continues...
"HYIPs are Ponzi schemes sold by unlicensed individuals. In the past, con artists relied on word of mouth to lure investors into these investments. Now they rely on the Internet and social media buzz to quickly popularize their schemes before the fraud is discovered."
Wise words, if it seems too good to be true, it certainly IS too good to be true.

Thanks to for the update.

No comments: