Work and live abroad is a complete resource for those wanting to work abroad or live abroad. We provide overseas job openings, immigration information, legal advice and country guides.
Receive updates on working and living abroad
Live Abroad

Jun 1, 2009
Don’t Fall Prey on Investment Scams
- Angelica V. Cruz Email this article

Have you encountered certain group of people who do sweet-talking and offer you a very lucrative deal in investing money in a networking company or any business for that matter? Does he promise that the money that you invested will profit triple in just a matter of months? Seems too good to be true, right? Beware for it might be an Investment Scam.


The Modus

A member of this certain group will try to convince you to join and invest on their business like networking, product selling, business franchise, etc.  He/she will show you some sample products and testimonies from their “clients/investors” who will prove that the product/business is real. That person will also assure you that the money that you invested will double or triple in just a matter of months since the “business” is said to be effective and legal. Once they earned your trust, you’ll be asked to withdraw money in their bank account. The transaction will be smooth sailing at first, but in the long run, you will notice that you are loosing money instead of receiving the amount that they previously promised you. And worst, those person will disappear in an instant and carry all your money.


How to avoid Investment Scam?


  • Check the authenticity of the company or the recruiter- All companies and its transactions should be registered in Security and Trade Commission of your host country. You can freely check if their status through their office or through their website.


  • Check the product and the services- You may also check if the operation of the company is legal. You can also try the product for yourself if it is real or fake.


  • Do not give your trust easily- Once you say “yes” followed by lending money, your dead. Do not give your trust easily; make your own research before you give money. Also, to make sure that it is not a scam, tell if you can visit the company and try their products to ensure their authenticity. Remember that money doesn’t grow on trees. You work hard to earn it.


  • Observe- Observe the way they talk and their business proposals. The way they converse and their body contact can give you a hint if a person is sincere or just letting you bite their offer.


  • Don’t believe in E-mail and Text Alerts- Often times, you receive spam alert through your email that asks you to join their group. You can also receive text messages saying that you won in a certain contest or if you can join them in their lucrative business offer.


Foreign workers are the most common victims of investment scams because of the money that they are earning.


In this time of crisis, we should be smart on where are we going to invest our money. Do not let yourself be fooled by smart-talking people who have bad intentions on the back of their mind. Remember that money is hardly to get in these days, so be wise and observant on the business deals that are being proposed to you.


Reader Comments
Add your own comment >>