Jobs & Employment

Forex Trading Scams

This is a buying and selling scam whereby the scammers require a 50% or more deposit so that they can order goods that you want, and they require the rest upon delivery. It is important to note that not all who do this are scammers, but some are using this method to defraud people.

How does this scam work?

Scammers set up social media profiles and this is mostly on Facebook and Instagram. They post pictures of goods that are appealing and are of good quality just by looking at them. The prices attached on the goods are reasonable and sometimes lower than what other sellers in the market are providing. This is usually how they engage clients because of what they promise to be selling. Since most people do not know where to order online or rather do not have the means to order online, i.e., VISA and Master cards, they rely on these people to order for them online. This is a business that is very common within boundaries and is indeed giving people profits. The structure is that you pay 50% or more so that they can purchase what you want from what they advertise. It is also a fee that secures their money which they use to buy in case you back away after they have made the purchase for you. In the legit business situation, the sellers provide you with what you ordered, and you pay them their balances. However, scammers are now using this avenue so as to scam people. They make you pay the upfront fee and that is the last you hear of them. They buy followers on their pages and also pay people to make positive comments about their reliability so that you think that they are genuine and what they provide is genuine. Some scammers advertise goods online and when you make the purchase, you discover that the goods which they say they are providing are not what they deliver to you.

Red flags or Warning signs

How to protect yourself

Have you ever been scammed?

  • Do you think that you have ever been scammed? If you have, you can help the next person and guide them from not being a victim by reporting this scam.
  • Reporting this scam can help your friends and family.
  • Also, seek help and guidance on how to avoid being scammed.
  • In case you have issued your banking details or any other personal information that can get your bank account defrauded, contact your bank immediately.

Dating & Romance Scams Buzz

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.