The more you want to like the online world, the more reasons it will give you to stay away from doing that. Yes, the internet has connected people with each other, but it has also opened doors for cybercriminals to make their evil plans possible. Since the trend of making money online is on the rise and will continue to do so for many years to come, these scammers have a gold mine to jump into. They are finding new ways to scam people and get their money and disappear. One of the many scams that these criminals run include HYIPs or high yield investment programs.
Understanding the Basics of HYIPs
These programs can be very tricky and the fact that so many people fall for them is saddening. You have people looking for ways to make money and HYIPs promise just that. However, keep in mind that they only “promise” but never deliver. They ask you to invest in something and promise you huge returns. These returns can even be more than 100% of your investment. That sounds too good to be true because it is. You can make such gains on your investments, but you can never be sure about that.
The problem with these schemes is that they promise and guarantee that you will make those returns. While forex trading scams only give you the impression that you “can” make a lot of money by trading, these HYIP scams are on a completely different level. In other words, they tell you that your investment will be infallible and that you will become rich in no time.
The mechanics of this scheme involve the signing up of new investors as fast as possible. The more people sign up, the more it becomes successful. How does that happen you may ask? Well, the people who invest first get the money from those who invest after them, and then the cycle continues. In other words, early investors are getting money from the pockets of secondary investors. Secondary investors, on the other hand, get nothing. Eventually the scam gets caught and you are left with nothing.
How Do You Identify Such a Scam?
The first sign is when you are promised and guaranteed returns that sound untrue to you. You don’t want to make the mistake of shaking off your initial doubts. If you have doubts about the guaranties, your instincts are telling you the right thing. The scammers will tell you that you can get your investments back within months and then after that, you will be making more money. Secondly, they talk about keeping your investments as secret as possible. You might not even be funding your investment in a well-known way because they like to operate silently.
At the same time, you will get to know from their own statements that you are investing in instruments that belong to prime banks, which is not true at all. In fact, the company you have signed up with is not even a company. It might just be an individual sitting in their basement with a computer and an internet connection. If you think such a scam has already approached you, make sure you ask a lot of questions. The more questions you ask, the more you will know.
Can You Get Your Money Back from HYIPs?
One of the worst situations to be in is when you have already given your money to an HYIP. It might seem impossible, but the truth is that HYIP fund recovery is possible now. You have companies like Claim Justice that can help you with this endeavor by listening to you and siding with you to get to a logical outcome of the case. You can hold the scam accountable for its action, prove that your money was taken deceptively, and get your money back within a few weeks if you successful present your case. So, if you have been scammed, there is no reason to feel helpless. Research a little and find the right company to help you with funds recovery.