Watch Out For Signs Of Get-Poor-Quick Scams

These may be hard times for the working man, but they’re boom times for con artists. In a tough financial climate, it’s more tempting than ever to seek out extra income streams, taking flyers on opportunities with which you may have little experience. That’s where shysters come in, ready to exploit your need for quick, easy money while hoping you overlook things that don’t seem quite right with their propositions.

Writing at Money Crashers, Martin spells out some red flags to watch out for when pursuing extra work:

*Upfront expenses are required. The money should flow from the company to you, and not the other way around. If it’s an investment opportunity, promises of an outlandish return should make you skeptical.

*The company is overseas. The reason the company isn’t operating stateside may be it’s avoiding the laws here.

*Details about how and when you’ll be paid are vague. Don’t be afraid to nail down the invoice and payment details before you do any work. If you can’t get exact answers, it’s foolish to believe the offer is genuine.

Tell us about any bogus work-from-home schemes you’ve encountered.

Work From Home Scams and Get Rich Quick Schemes to Watch Out For [Money Crashers]

Comments

Edit Your Comment

  1. Jackson says:

    Also watch out for companies that pay just straight commission when a sale is made.

    There are some percentage of scum [usually small] companies that know that it takes 6 months or longer to sell their product/service. They “hire” people on straight commission and pay them nothing, only promising high percentage commissions when they make a sale.

    But after 3 months of building a sales pipeline, they tell the person that it doesn’t look like they will be successful and send them packing. The poor person has noting to show for 3 months of effort and work!

    Then the management takes the leads the fired person accumulated and works on them themselves, [eventually] closing some percentage of them w/o having to pay any commissions!

    I know a couple of people this happened to and have heard of others.

  2. Phil Villakeepinitrreal says:

    Duplicate story, this has been up in he last week or so already.

  3. balthisar says:

    Actually, this kind of puts me in the mind of how can I take advantage of people who’d spend their disposable money on get-rich-quick schemes? Obviously there’s no moral question, because I’m assuming that they’re feeding their families, and that they’re using surplus income (even if it’s only very little).

    What kind of network marketing product would appeal to the less intelligent of you readers?

    • faislebonchoix says:

      How about making an organic food or beverage with snake oil-like health benefits for people to sell? Require them to buy a kit of samples up front and a certain amount every month.

  4. Jane_Gage says:

    I’m not very intelligent, so here are my thoughts: it would have to contain the phrase “be your own boss” and entail assembling goods at home for at least 500 a month. That way I can watch television all day!

  5. eligiblebachelor says:

    These guys have a pretty decent explanation of financial / insurance pitches out there that are often way to good to be true.

    http://careerpurgatory.com/2010/10/11/multi-level-marketing-schemes/

  6. omg says:

    Scammers can be found from time to time on Craigslist, looking for ‘assistants’ or ‘processors.’

    All you have to do is receive parcels reship them, and get paid..

    Which works out to:

    They use a stolen credit card to buy stuff remotely and have it shipped to you, then you send it to where they want to receive it, and pay you as an accessory, er, processor.

    Good luck when the cops show up at your door.

  7. omg says:

    Please do not post my previous comment.

  8. Gravitational Eddy says:

    If it’s robostamping mortgages in Florida, I’m all over that.

  9. HalOfBorg says:

    msn.com