Online business opportunity scams are EVERYWHERE! The internet is littered with them. It is the best place for fraudsters to use their creative skills to lure their victims into parting their money. One of the dead giveaways is a promise to make an extraordinary amount of money from the business opportunity without much work. A BIG RED FLAG!
As the saying goes, if it sounds too good to be true, then it probably is!
According to the US Federal Trade Commission, most business opportunity scams are found in the following categories:
- Online Startups
- Multi-level marketing businesses (MLM)
- Envelope stuffing schemes
- Franchise Opportunities
- Mystery Shopper
- Business Opportunity Seminars
- Investment scams eg. Ponzi schemes
- Job Scams
Fraudsters use a variety of ways to find their potential victims. They can obtain your phone number from some where and call you up to get you to sign-up on something, and even send you emails claiming to be from a trusted company.
Example Of Spotting A Scam
A few years ago, I almost fell for a job scam that was delivered to me via email claiming to be from SEEK. They were promising a high hourly salary for some simple office administration job that they were offering. It looked professionally worded, but the hourly rate was unusual. So I suspected that it must be a fraudulent email, especially because SEEK rarely sends me these types of emails.
Not long after that, I received another fraudulent email of a job vacancy. Have a look at below.
Job’s Vacantion: Customer Manager
Your data was found and selected from the seek.com.au.
In our company, the main asset is our staff, who also marl out us from other enterprises. We know that in order to have success you need to have the right people employed. That’s why we always search for another professional pair of hands. To select the right people we ground on our company’s values, which helps to gather like-minded people. We also pay attention to the skills and experience that are necessary for this job. We take only those, who work and perform our services in the most convenient, professional and timely consulting manner.
The principle of work of this vacancy is to fulfill the expectations of the client. The customer may face various problems, thus your responsibility is to manage and resolve the problematic questions raised by the clients.
The most important part of your vacancy is to look after customer satisfaction and assist in payroll preparation and processing.
Veldera is a values-driven enterprise focused on maximizing employees’ talents to enable them to reach their full potential. We highly estimate our team and ensure our clients that we select those only who definitely contribute to our emerging philosophy.
For more information, please reply to: firstname.lastname@example.org with your short resume.
This vacancy is limited.
Please no phone calls regarding this position.
Submissions by EMAIL ONLY.
Does this email look suspicious to you? There are some red flags with this email already. It’s got some spelling mistakes, they don’t accept phone calls only emails, and there’s no name to sign off the email! If someone responds to this email with their resume, their personal details go to the fraudsters! They might try to convince you to participate in some business opportunity scam!
If you are looking for a business opportunity to become involved in, you must be able to distinguish a scam from those that are not. Below is a list of red flags to watch out for.
8 Red Flags To Avoid
1. It sounds too good to be true.
2. A promise to make large amounts of money
3. A promise to make money without much effort
4. A promise to make money FAST
5. A request to take action quickly
6. A vague description of the opportunity
7. An absence of the fraudster’s image
8. A request to make upfront payment to gain access of opportunity
Legitimate Business Opportunities
Any legitimate business requires training, resources, hard work, and long hours to make things work. If you want to make a sustainable income the ethical way, read some of my articles and reviews on this website.
Now that you have read this article, you should be able to spot a business opportunity scam pretty quickly. Don’t give scammers what they don’t deserve…your money! Use your judgement and discernment. Make wise decisions!
Thanks for reading. If you have other red flags that you would like to share and help others avoid scams, please leave your comments below.