I'm really concerned…
I just came across a group of investors. 29,595 people to be exact.
These investors are all part of a group called “It's all about Online Stokvels”.
Don't get me wrong. A stokvel is a great thing. A group of people putting their funds together, investing it, and sharing the returns when they're needed.
But what I've seen on this group isn't real ‘Stokve... ››› more
There are so many Forex scams out there promising fast gains and lucrative returns, that when most traders hear the word “Forex”, they immediately think that we're out there to swindle you out of your money.
But at FSPInvest, we don't make promises that we can't keep. So when we say that our Forex Trader service is a great way to make quick gains from trading international currencies, we m... ››› more
MMM Global could cost you a lot more than just the money you've put into the scheme…
On 13 January 2016 I warned you the MMM Global scheme could cost you everything you invest in it.
On 23 March 2016 I told you it was an illegal pyramid scheme and its collapse is looming.
And as we're speaking this scheme is collapsing. But if you still put any faith in it, and according to reports m... ››› more
Unfortunately the investment world has its scam artists. The most common of these scams are Ponzi schemes and pyramid schemes.
So what exactly are pyramid schemes? What makes a pyramid scheme different from a Ponzi scheme? And how can you avoid investing in one?
Read on to find out…
What are pyramid schemes?
Pyramid schemes are a type of investment scam. They’re similar to Ponzi... ››› more
Investing is all about getting your money to work harder for you and making it grow. In your quest to find great investment opportunities, you may come across investment scams.
The most common investment scams include Ponzi schemes.
So what should you be wary of so you can spot an investment scam like this?
Read on to find out…
The start of Ponzi schemes
Ponzi schemes get their... ››› more
If you're thinking about investing offshore, one thing holding you back may be concerns about investing in a scam or fraudulent investment.
Just like in South Africa, unfortunately there are scammers in other countries trying to con you out of your money.
But the good news is, by sticking to some guidelines you can ensure that you put your money to work in reputable and creditable investment... ››› more
Investing offshore can benefit your investment portfolio by boosting returns and adding much needed diversification.
But you can't blindly approach investing offshore.
Before investing a cent, you need to do your due diligence. By doing this, you'll reduce the chance of making an investment mistake you'll live to regret.
Read on to find out what to look for…
Six ways to spot scam... ››› more
Everyone can fall victim to credit card scams. Knowing how to protect yourself and watching out for potential threats can make it much more difficult for scammers to take control of your credit card account.
Don't think that it can't happen to you. Because it can. And Christmas is that time of year when credit card fraud is at its peak.
Here are a few ways you can protect your credit cards fr... ››› more
The number of people struggling with consumer debt is on the rise, making it the perfect opportunity for credit repair scammers to thrive. If you're not careful, you could be the victim of credit fix scams, which promise to erase all your bad credit and give you a fresh new identity.
These scammers try to fool consumers with bad credit histories. They often promise to get consumers' names remo... ››› more
With the Internet and all things related firmly part of our lives, it's sometimes hard to know what's genuine and what isn't.
And this couldn't be more true that with ‘investment opportunities'. Promises of great riches can leave some people confused. Should they or should they not invest?
To help you uncover the genuine opportunities from the scams, read on…
Uncovering investment... ››› more
Penny stocks have the potential to make you handsome gains. But penny stocks also have a dark side.
There are those who take advantage of investors and use penny stocks as an investor scam.
Luckily, in South Africa with our modest sized stock market, scams aren't very prevalent. But, jump over the pond to the US and it's a completely different story.
Just because you reside here, don't th... ››› more
If it sounds too good to be true, it probably is! This is true for most things, especially those that have to do with money. Don't be swayed by big promises, especially if you're new to forex trading. Today, we reveal three tips you can use to spot forex trading scams…
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URGENT: Next trade imminent!
On 24th March 2014 Forex Trader subscribers banked a ... ››› more
Wednesday 11 December saw the five-year anniversary of the arrest by US federal authorities of Bernie Madoff. Madoff was a financial advisor who ran the biggest Ponzi scheme in history, defrauding investors out of tens of billions of dollars. So how can you avoid investing in Ponzi schemes and other investment frauds and scams? Read on to find out…
There are certain red flags investors should ... ››› more
It's a sad fact that investment scams are rapidly on the increase. They dupe investors into parting with their hard earned cash with the promise of amazing returns, only never to see their money again. Look out for these six warning signs to ensure you stay ‘safe' in the investment world…
In the US and Europe, gullible investors pump millions of dollars every year into dubious financial sche... ››› more
Once you're all set to get investing, don't let your excitement get the better of you. You could make some very expensive mistakes. Here's how you can avoid investment scams…
The world of investment and finance is an exciting place to be, but unfortunately some ‘undesirables’ lurk about. And they’re always on the look out to scam an unsuspecting investor.
Three warning sign of an inve... ››› more
37.3 million people were affected by phishing scams around the world in the past 12 months! That's according to a report by Russian-based security firm Kaspersky, which analysed this global trend between April 2012 and April this year, reports Fin24. Here's how it could affect you if you're not careful…
"Researchers at Kaspersky Lab have documented a drastic increase in the number of web user... ››› more
With Internet and mobile banking fraud on the rise, South Africans are getting increasingly nervous about how well companies are protecting their personal details. Luckily, Government's taking steps to help - and they should come into effect later this year…
Sick and tired of receiving phishing scams by email or SMSs from ruthless fraudsters looking to steal your money? What about those annoy... ››› more
Investment scams are rapidly on the increase and you need to guard yourself against these all the time. In fact “gullible investors pump a lot of money every year into dubious financial schemes, often based offshore, only to discover later they've been had,” says The South African Investor. Read on to discover six warning signs you should look out for to avoid falling into the trap of investme... ››› more
Whenever you invest, there's a risk you'll lose your money. But there's also a risk you're falling for an investment scam. With the Defencex and Fidentia investment scams taking much of the limelight these past few weeks, it's little wonder new investors are wary of investment promises. That's why they're now questioning whether Forex deals are a scam or an investment miracle as some promise retur... ››› more
J Arthur Brown of Fidentia finally received his sentence from the Western Cape High Court yesterday. He faces a fine of R150,000, which he's already paid. Failing that, he'd face 36 months in prison based on two counts of fraud. Now, proving their loyalty to Brown, about 500 ex-mineworkers are hoping to sue the curators of Fidentia after losing millions of rands in investments, because the court h... ››› more
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