In the digital era, all roads lead to online marketing and that has arisen online scammers and their mules to look for new ways to trick the victims. Those fraud and deception unfold greed and temptation to lure people who know little about the business to invest in assets or dummy business. Scammers mostly tempt people to join a new investment or new business to get incredibly high returns than general investment such as, earning interest every 3 months or receiving 100% principal together with interest, etc. After getting all victim money, scammers will take it to pay interest or benefit to the first investor, and then they’ll find new victims to build investment network and continue doing that like a chain reaction and finally take all those money to pay their network leaders. In the case that scammers can’t pursue new people to add on investment, that fraud business will fall to pieces because they don’t have money to pay interest or benefit anymore. And when that Ponzi scheme collapses, in most cases the sufferers or victims can’t get money back because their money is transferred by the scammers before a lawsuit and the victims are not able to trace the financial journey. Eventually, they will become impoverished or lose all their entire life savings.

In fact, there’s no investment in the world that can guarantee certain benefits. However, because of ingenious techniques and methods, scammers tend to flaunt people with their wealth and that’s easy to trick because of their trustworthiness, especially among friends. At present, there’re massive online Ponzi schemes based on scammer tricks such as selling products, direct selling, investment in new assets like Forex or digital currency, raising money to the stock market, and even cow feeding as seen in social media. Generally, Ponzi schemes or most online scams have deceptive tricks in common in order to seduce or invite the victims to join their investment as follows.

How to avoid being a victim of online scams

• Propagate ads through social media like Facebook saying that investment is easy with guaranteed tremendous benefit, or a short-term investment with high returns such as, 100% and without loss. The claim is made to the victims that they’ll gain higher interest than savings deposits in the bank. As a matter of fact, investment is risky because more profit, more risk.
  
• Encourage victims to convince close friends or their loved ones to join an investment. The more investors, the higher returns, or commission fee will be given to the recruiters, etc. When the first victim falls into the trap, invests, and gets benefits; the scammers will then fall victim to investing more money. After the trust is built, the victims will ask relatives and friends to join the investment. That tends to work well because it’s easier to convince people who are the loved ones.
  
• Use motivation techniques to hasten people’s decisions to join the investment. For example, Early bird investment to get limited privileges, The earlier investment; the higher benefit, Transfer the financial investment right now to get exclusive rewards before others, etc.
  
• When online scams or Ponzi schemes get stuck or are short of money because nobody joins investment, scammers excuse themselves that the business suffers a huge loss so they postpone giving interest or returns, or defer to the next payment and give double interest or returns, and then they’ll transfer or convert money before the victims know that something goes wrong and reports to the police. At that time, it’ll be too late to trace their financial journey because scammers have already withdrawn or converted all money and run away.
  
• Most scammers or network leaders will create an online account and shoot ads to the target groups. They build images of living in big houses, driving supercars, enjoying luxurious lifestyles, traveling abroad, showing off their pictures taken with celebs to make acquaintance. Often, scammers display superstar pictures and claim that they’re joint investors to build trust and make people wonder what career brings such a wealthy life! And when the victims believe implicitly, scammers will convince them to make a contact to start an investment.
  
• It’s hard to find or investigate a fake online company established by scammers whether it really exists. There’ll be no progress if it’s the fraudulent website or social media, or the company location or phone number is unidentified.
  
• Sometimes when the victims doubt whether the investment is illegal, scammers may argue that it’s the foreign investment legally bound in that country. That claim is wrong because if fundraising occurs in Thailand, it must be under Thai law. Therefore, that false claim regarding international law doesn’t make any sense.

Check carefully before investing

Check the company names if they’re legally registered before investing as follows.

• BOT License Check: To verify detail of License or Registration Letter for operating a business under The Bank of Thailand such as, P-Loan, Nano Finance, e-Money. https://www.bot.or.th/app/BotLicenseCheck
• SEC Check First: To find out the list of service providers for fund marketing under supervision of The Securities and Exchange Commission, including approved products in order to help make investment decisions (Securities/Digital Assets) and find out the list of those who don’t get approval/registration/consent in Investor Alert https://market.sec.or.th/LicenseCheck/Search Or call Hotline 1207
• Check the list of Securities companies that have already got approval from The Stock Exchange of Thailand.
  https://www.set.or.th/set/memberlist.do?language=th&country=TH
  
  
• o   If in doubt that you’re deceived by online scammers or Ponzi schemes, please contact Fiscal Policy Office, Tel. 0-216-7128 to 36 ext. 153-161 or Loan Shark Hotline 1359 click 1 or e-mail 1359@mof.go.th

Before making an investment decision, think carefully that no investment would offer you high returns in short term with guaranteed benefits. The more profit you gain, the higher risk you take. If you don’t want to be the scammer victim before investing or joining a business pursued by social media, it’s wise to check their reliability first. Alternatively, you may choose a renowned financial institution recognized by the government sector.

Source :

facebook FinSpace

https://www.pptvhd36.com

www.investerest.co

https://news.mthai.com/general-news/771724.html