A get-rich-quick scheme is a plan to acquire high rates of return for a small investment. The term "get rich quick" has been used to describe shady investments since at least the early 1900s
Truthfully, this generation is given more and more opportunities to get rich quick. And this is exactly the problem. A desire to get rich quick takes normally hardworking individuals and makes them feel like they are missing something. We become disillusioned by traditional forms of work and earning.
Wealth building is not simply about increasing the amount of money you have in the bank. Wealth building teaches lessons along the way. You learn mistakes you will not repeat again. Fortunately, in the little by little approach those life lessons cost less. Someone who gets rich quickly is more likely to make a fatal error that puts the entire gain at risk.
When times are hard like as it is in Africa, people search for money-making ideas and hucksters turn to investment scams.They promise high returns with low risks, new ways to invest and then pretend to have inside information — all with the aim of relieving hard-pressed savers of their money.
The likelihood of a long, drawn-out recession and the anxiety we share about the slump in our savings and stock portfolios is the perfect scenario for crooks to lure us into investment scams.This year more than ever, many people are on the lookout for opportunities to stretch what money we do have and to increase our income if we can.
Unscrupulous antiques dealers and online fraudsters are only too happy to describe impressive returns. Sometimes their figures have been plucked out of thin air; other times they conceal huge swings in values caused by minute differences in condition or subject.And then, as we say, sometimes the products they offer are just forgeries.
They come with unique products especially targeting the health sector since most Africans have diseases that take long to set them free.
Others are in products related to technology and they very well know that youths are more interested in discovering new things. They set prices for these products and they assure steady and quick profits within a short period of time which is the real target for every African.
"The more people you bring, the more uou earn. The more products you buy the more the profits you get. And if you're serious enough you can earn one million per day." They say.
So the desperate Africans invest in all their savings to yield fat profits.
*.They will imply that anyone signing up will become rich within months to a year.
*.They will tell potential victims that the route to success is by following “secret formulas” that no one else knows about
.*.They will often claim they have been seen on various websites such as Google and YouTube, causing the viewer to assume said websites endorse the product
.*.They will use pressuring tactics to get the victim to sign up quickly, such as claiming that there are only a certain amount of copies of a CD left, or using special discount prices that are only available for a short amount of time
.*.Schemes such as this will often employ the tactic of displaying testimonials from “previous users.”
*.When trying to navigate away from their website, users are often presented with popup windows offering further discounts, in an attempt to make the user feel special.
Another indicator is the way the schemes are advertised. Many schemes will post so-called “success stories” on post-your-own-article websites.
HOW PEOPLE LOOSE IN THESE SCHEMES
After the project running for a few years like three, it abruptly closes claiming to have run bankrupt or they even use legal institutions that come out to claim that the company is not registered and it has been working illegally. At this stage the company closes all it's branches promising to open immediately after sorting out the matter.
People keep on waiting and at the end nothing is gained since the accounts where they pay from are ever fixed deposit accounts.
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