Thursday, January 28, 2010

Don't fall for "Get Rich Quick" Scams

Beware that there are a lot of "Get Rich Quick" scams around. If you see any scheme which advertises to be requiring minimum effort and time and making a big amount of money in a short time, you must be extra careful before trying it out. It is because you will have a high chance of being scam.

One good example of such scam that had been exposed in year 2009. It was from the company called Sunshine Empire. This company claimed that they had many big projects with different countries and promised a very high return for their investors. Because of that, many people had invested a lot of their hard earned money in it without knowing it was a trap. A few years later since the startup, the owner of the company had been charged for running a Ponzi like scheme business after many failed projects. And it was unlikely for the investors to recover all their money.

So how to prevent yourself from being scam:

Don’t be greedy.
Scams always target greedy people. Remember there is no investment product or businesses that will guarantee unbelievable high return in a short period of time.

Don't believe in the business which requires little or no effort from your part.
Building a business is not simple and definitely will require huge amount time and effort.

Don’t invest in a company without finding out its background and core businesses.
Make sure you find out more about the fundamentals of the company before doing any investment.

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