Online scams

Hi everybody,

The COVID pandemic has created havoc in the lives of people. Lost jobs, livelihood, family, homes, people have been rendered penniless.

Scammers have spotted this as the perfect opportunity to pitch: work from home, earn from work online, passive income generating schemes, etc.

These websites offer unbelievable referral commissions which have put youtubers hard at work to push these scam websites to gullible people, draining them of the little they have left after this pandemic.

It takes very little to create a website that proposes a plan to earn money with a very small entry fee, or deposit amount. In fact there is an entire new enterprise of coaches and teachers who have opened online businesses to push us gullible folks to enlist, pay fees and learn how to capitalise the myriad online opportunities that have mushroomed. Be warned they all speak the same language.

Familiar and repetitive rags to riches stories, 7 figure incomes, huge mansions, fancy cars and yachts. All bogus and humbug presentations to get money out of your pockets.

These coaches are so magnanimous that all of them are offering 70% to 80% discounts on their real fees. Can't you spot the scam? They all are scamsters. 

This is how the logic works, take an example, an online coaching website is offering a fully operational package that works for as little as 37$. You are going to read the prospectus and jump, you get registered and then… surprise, it ain't as it was told. So you try Google, YouTube etc to get the hang of it, the coaching website may or may not respond to your queries. After a few days of trying and sadness, you give up. You just lost 37$, you console your mind and move on. That coaching website made a sucker out of you. You are 1 of the many thousands who paid that paltry 37$. Do the math, that scammer who gave you the hype of rags to riches with just a few clicks is laughing at the fools he has just conned. He is laughing hard, because even if he cons 10 idiots daily he makes 370$ per day.

Every few days he changes track, revamps his website, his Facebook and YouTube ads and finds more suckers. Do you get the scam. He has created a perpetual income stream from ordinary people. Nobody during this life crisis is going to chase this scammer legally for want of using money that's already scarce. Win win for the scammer.

The modus operandi is similar for 'earn income online' websites and apps. Your search of these websites on Google, Facebook or YouTube automatically triggers the AI algorithm to push such offers to you, you have now become a target. You will continuously find such offers whenever you are surfing the internet.

They take deposit amounts with the promise of huge income generation, some even offer income every hour, now do you smell a scam? Not many of us do. They play and prey on the basic human tendency to take the easiest route to make money, more so during this human crisis. These scammers don't have a conscience, no moral compass, they will try to take money off of a corpse too if they can. They are hidden behind layers of technology that is difficult for ordinary folks to unravel. Again you get conned out of a small amount e.g. 40$, the guy at the receiving end makes 400$ per day by fooling 10 of us.

I would strongly advise to look for income opportunities that involve cryptocurrency, especially smart decentralised and verified contracts. For those of us who don't understand the terminology, smart, decentralised, verified contracts are a system. It's not an individual or a group of people running a website, it's a very complex system of computer programming technology called 'Blockchain' which forms the backbone of these contracts, and they are 100% tamper proof, no human, not even the creator can tamper with the contract and steal your money. Blockchain is an open source software, a new paradigm that is quickly gaining traction for many applications especially in finance.

Hope this helps. 

Naushir Mistry