Common frauds, scams and tricks

If a deal is too good to be true, then most likely it’s a scam. Really, it’s as simple as that but people are known to be greedy….. or easily tempted to do the unthinkable or something illogical, all for the sake of money. So let’s see a couple of frauds, scams or tricks commonly seen online and/or rampant in Malaysia.

1. You are the lucky winner!!! (or something similar). This is as old as it gets in any website or pop up window but people still wonders…. [Squash it]: Do you know that every each of us gets that same *winner* notification at the same exact website? If you’re offered a free gift/money, why doesn’t the advertiser just ‘win’ it himself? SCAM!! Remember, NOTHING is free in business.

2. Scratch this card and win!!! You scratched it (unfortunately) and won an electronic device/car/toy/whatever! Then, the truth is revealed where you have to pay an amount / or buy something else to get the *free* gift. I freaking hate these kind of salesmen/women. [Squash it]: Really, if anyone can scratch and win just anything, why don’t you just ask the sales person to scratch all the cards himself and win everything he/she is *offering*? SCAM!!

3. You received an email to keep forwarding it to get compensation from X company!!! [Squash it]: First, no company has the mechanism to keep track of every email out there. If they can, what for? No company is giving charity to unknown people or specifically strangers… like YOU. Secondly, do you know that anybody can just create a MILLION new email addresses by himself and keep forwarding the email to himself to get more compensation? Totally absurd. This system is never ever going to work. SCAM!!

4. You received an email to be an agent of his to transfer money from his country into your local bank account. [Squash it]: Why on earth would anyone trust a stranger to get hold of his money, moreover from a foreign country? If you’re in his position, would you trust just some random guy to handle your money? What guarantee is there to not just run away with the money? This method is completely illogical beyond all recognition that I refuse to further comment on it. SCAM!!

5. Multi-level marketing (MLM). Okay, I know I may get some heat from this one. Thus, I will explain what I think about MLM in another separate post. But for now, it’s sufficient that I warn you not all MLM businesses are ‘real’ although everything may look rosy to you. Moreover it is not easy to find an MLM that is Shariah-complaint (there is only 1 in Malaysia so far).

6. Online Foreign Exchange (FOREX). You need FOREX when you want to change your currency into another one during a trip overseas/across borders. THAT is the ONLY and REAL purpose of FOREX. [Squash it]: The majority and massive number of people doing FOREX for the sake of getting profit (buy low-sell high) is the reason why the economy of the world becomes extremely unstable. How can you create more money from ‘money’ itself? Creating RM2 from RM1 using trading with no goods, commodity or anything involved as a barter/reference item; it’s creating money from thin air. As long as people keep toying around with the value of money, there will be endless economic catastrophe, discrimination, recession and depression. Ok on topic again. Online FOREX is ILLEGAL in Malaysia. You need proper license and clearance from Bank Negara to do FOREX. Foreign FOREX is also doubtful, as nobody can verify their credentials and credibility. FOREX is forbidden by Shariah, whether online or not, and is ONLY allowed to protect a country’s value of money or for that trip overseas (but you wouldn’t do it online at the first place right?)

7. Online investment. [Squash it]: Again, did you even bother checking the portfolio of the ‘investing’ company? Incomplete and vague information presented at their website shows it all. Plus, a helpline or contact number is just another strategy to lure you more into their trap. If you really want to invest, put your money into any banks or ‘physically’ present known companies. It is compulsory for Muslims to invest only in Shariah-compliant companies, that is, if you wish to do any kind of investment. Furthermore, in Malaysia, huge investments are regulated by Bank Negara so please do follow the law.

8. Send SMS for a chance to win a car! (or something) [Squash it]: What is a chance for one out of 7 million people to win that car? And the cost for just one SMS is RM1 (for example). It's a TRICK! The competition organizer collects money from all the SMS and gets profit from it. Imagine RM1 x 7 million people thats RM7 million. Now the organizer only needs to use that money to buy a car, say RM150,000 and the rest goes into their pocket. This method is also considered a gamble and is forbidden by the Shariah.

Well, I will stop here. Know that there are a lot more frauds and scams out there. Always take a step backward and think first before you jump into the wagon, ANY wagon.



Credit to Mr.Yusufmumtaz : http://yusufmumtaz.blogspot.com/search/label/%5B%20Economy%20%5D
Aku hanyalah insan biasa, mengharap teguran dari sahabat dan mendamba redha Allah. ~qirmumtaz~