Cash Accounts or Internet Scam?

literacyI recently received this email from a friend:

I have a question. I have been looking at some ways to make extra money and have more flexible hours at home by making money from the Internet.

I have come across this e-currency trading thing. Do you know anything about how it works? Is there one program better than another? From what I understand the money exchanged on the Internet needs cash back-up, like a wire with Western Union or currency exchange companies.

But e-companies find the banks charge too much, so they approach these companies that set up “cash accounts”.

And I would be providing that “cash”. It’s the no-risk thing and fees on the back-end to get your money out that I am concerned about. Your thoughts?

cents

 

My Answer:

I’ve never heard of this. Unfortunately, I don’t know anything about it
or have any experience with it.

One thing you said raises red flags for me,
“But e-companies find the banks charge too much, so they approach these companies that set up “cash accounts”.

Banks don’t charge too much. They charge standard fees and probably cut special deals for people that make a lot of transactions.

It sounds like an elaborate ‘story’ to get you to put up your money. My guess is that you would have a hard time getting it back, if you could at all.

I could be wrong about that. But if you decide to move forward, I would do so with extreme caution.

You already have a question mark on your mind or you wouldn’t have asked. Sounds like your instinct
has already told you what you need to know.

Of course, this is all just opinion and speculation. As I mentioned at the beginning, I have no practical awareness or experience with this kind of ‘business’.

My opinion is that is sounds fishy enough already. There are plenty of people that want to get their hands on your cash, and they don’t mind cheating you to do it.

This is a tough world.

It is hard to tell the pearls from the fish eyes……

I’ve been scammed a lot, so I’ve become more cautious.

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If you have any thoughts to add to this, share your thoughts via the ‘leave a reply’ Section below.

money picture

 

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Tags: , , Internet rip-off

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  • David

    Here is my friends reply as well as my response:

    > In what ways have you been scammed? Do they go for small amounts
    > of money on the front end and then sell you “teaching tools”, or
    > have fees? Or just outright steal your money? I am trying to get
    > an idea about how scams work on the internet.
    >
    > Thanks for your input.
    > L

    My Reply:

    I think the biggest problem in marketing over the Internet is that people lie or their results cannot be matched.

    They hint at big incomes from their system or they outright show checks etc.

    But the problem is, after years of buying products, I just plain realized that most of the time the truth is not being provided or perhaps they are telling the truth but it is not possible to follow what they did and get the same results.

    There are certain circumstances that allow a system to work for someone that you may not be able to duplicate or you just plain don’t have the same personal circumstances in your life.

    Maybe the system did work once, but now it doesn’t anymore.

    Or maybe it worked for a short period of time and then stopped. But they brag about the resultst they once obtained to make it sound really good. However, just because something works for one person, doesn’t mean it will work for someone else.

    If there was one thing that worked for everyone, it wouldn’t be long before everyone was doing that one thing.

    Our world doesn’t work that way. If it did, everyone would be doing the same thing to make money.

    However, everyone doesn’t do the same thing. Situations are person specific. This indicates that something can work for one person but not another.

    Why do they charge such outrageous prices for their information? If it worked so well, they could charge a small amount and still make plenty of money because word would spread and everyone would buy it or do it.

    If their systems worked really well, they wouldn’t need to charge so much for their information, package or program because their primary income would be from the system itself and not from selling you the system

    Just my 2 Cents.

    -Dave




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