🤑 Greed Scams

🤑 Greed Scams - “Guaranteed” Investments

Too good to be true because they are, greed scams take advantage of victims through the promise of quick and easy money. Generally, scammers pretend to offer something in exchange for an initial investment or a profitable transaction for both parties. 🤝

What are the four types of greed scams?

1. 💼 Employment

2. 🧬 Inheritance

3. 💎 Investment

4. 💰 Loan/Grant

💼 Employment

Easy money…? Targeted towards people looking for work online, the scammers advertise their job as remote, with little work involved but a big payday. 👨🏻‍💻

First, the scammer will send a cheque or deposit into the victim’s bank. 💳The victim is told that all they have to do is withdraw the money and send it to the bitcoin wallet that they are given. Then, they will be able to keep a small amount of the money from the transaction.

❗ BUT, once the bitcoin from the victim is sent, the scammer reverses the transaction to the victim’s bank account. ❗

Now, the “employee” is stuck with the bill or else they will face charges of fraud and money laundering from their real bank. 🧾 Generally, victims cannot afford to cover the losses which lands them in financial and legal trouble.

🧬 Inheritance

Long-lost relative?! Victims receive a call or email about a “distant family member’s” passing overseas and has left items worth millions to inherit.

But, shipping and customs fees… 📦

To get these valuable items from the inheritance, scammers tell victims they have to pay for the shipping and customs fees. 🚛 To make everything seem legitimate, fake phone numbers, email addresses and a fake website with fake tracking info is provided to the victim.

Until the victim runs out of money or realizes they are being scammed and stops communication, scammers ask for large amounts of money disguised as customs fees to be paid. 🔄

💎 Investment

Get your money’s worth. The most common greed scam, complexity ranges from send bitcoin and get double back to an investor who will get massive returns by trading on your behalf IF you hand over your bitcoin. 👍

A team effort from the scammers. 👥 Usually, scammers will work as a team from the very moment they meet victims online, tell them how to invest their money and use the group to establish credibility of investment.

The scam starts with the victim sending their bitcoin to the “investor,” prompting an email at the end of the week with “data” on how much the victim has earned during that time. Earnings for the victim are enormously high… Then, to get their earnings, the scammer tells the victim to pay their fee for trading (a percentage of the fake amount) and a transaction fee. 💵 

Once the request amount is paid, the scammer disappears.

💰 Loan/Grant

Pay me back… The scam starts with the victim receiving a phone call or applying online for a loan or a grant. ✍🏼

A large loan or grant is always approved for the victim but the scammers require insurance or an application fee that will be paid back to the victim.

However, once the money is sent, scammers will continue to ask for more money until the victim stops communication or runs out of money. 😰

Remember, don’t fall for greed, have compassion towards victims and leave your judgement for the scammers.

Do you know there are two other big types of scams?

• ❤️ Love Scams

• 😱 Fear Scams

Let us know what you think! Suggestions welcome.

DISCLAIMER: Rallie Finance does not support the use of bitcoin for fraud and we are always finding new ways to educate and warn our customers in hopes of preventing them from falling for these scams.