Preying on your greed

A staggering $4.32 million was lost to phone scams in the first half of this year. More than half was lost to scams involving making “advance payment” or “administration fee” for winning lottery prizes or luxury cars. It seems that people just don’t learn. Despite numerous media reports of such scams, many are still falling for the traps. The con artists are simply preying on your greed.

Open any major newspaper and you can see advertisements telling you how you can make easy money or super high returns using simple strategies. Or a friend might tell you of “business ventures” that guarantees you a perpetual return after putting in an initial investment. How about buying pieces of land “cheaply” and then earning abnormally high returns after selling to some developers. While there might be instances of initial success, the investors must ask themselves if such ventures are substanable or returns are consistant.

When something sounds too good to be true, it probably is.

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