Six Ways to Detect Scammers

Few days ago, I read the stories of people that were defrauded through phoney investment schemes. Those stories made me so sad. In fact, I am still wondering whether people do due diligence, or they just want to get rich quick by any mean. 

It is not difficult to ascertain whether someone is a scammer or not. But if you are a greedy individual who wants to reap where you did not sow, you will always give your hard-earned money to fraudsters.

These fraudsters started with the MMM scam, and thousands, if not millions of Africans lost huge sums of money. They went back to the drawing board and re-strategized, and started using what looks like investment opportunity so that you won’t call it is another ponzi scheme.

On the surface, the ‘investment’ opportunity may look real especially to someone who wants to break out of poverty as fast as possible. But if you take a deep dive, you will discover that it is a scam.

Below are some of the ways to detect scammers:

(1). When You Feel Uncomfortable.

Everyone of us have an inbuilt lie detector called intuition or premunition. Whenever someone is talking to you and you suddenly feel uncomfortable, kindly tread with caution.

Some of the individuals who were defrauded said that they knew that something was wrong. They knew that the investment or business was a scam but they went ahead to invest in them hoping that somehow, they will hit it big.

If you are on the process of investing in a business but suddenly become apprehensive, please pause and ask questions for further clarification.

(2). Huge ROI.

How can someone promise you 50% return on investment, in this world and you agreed? It doesn’t make sense at all.

What kind of business will give someone that kind of profit margin? What kind of investment will give you one hundred percent return on investment monthly? 

Someone said that a particular forex company promised their investors 50% return on investment. Then reduced it to 25% and further reduced it to 10% or thereabouts.

Any business or investment that promises you huge ROI within a short period of time will not last. It is a ponzi scheme. It will definitely collapse.

Few days ago, we read the story of a young man that collected about N300 million from ‘investors’ and gave the money to a forex trader and he eloped without a trace. The young man committed suicide.

It is possible that he promised his investors massive ROI that made them to part with their hard-earned money. Otherwise, why should someone invest in forex trading that is unreliable and volatile?

It is only greed that will make you to invest $100 in order to make $1,000 monthly. It is pure greed. If you check large corporations you will discover that huge profit is a scam.

(3). When the Investment or Business is Fuzzy.

The first question I asked people when MMM was reigning was; where does the company make money from? I mean, what do they do that will multiply my money within a short period of time? No one answered that question.

If you want me to invest my hard-earned money, you should at least show me what you do and how you will generate my return on investment.

Unfortunately, they will tell you one thousand and one stories like; “We will purchase groceries in your name, sell and help you to make money.” “You will give someone your $100 and another person will give you $1,000.” So, between myself and the person that will give me the money, what value did we exchange? Nothing! Then run!!

You are living in this same world. You watch global affairs on the television and also read it on the newspapers. Where in this world will someone double your investment in a short period of time? It doesn’t make sense.

Once an investment opportunity sounds vague and unclear, please run. No matter the ROI they promised you, please run. Don’t fall prey to scammers whose conscience is dead.

(4). If it Looks too Good to be True.

If someone advertises an investment opportunity and promise you 50% return on your investment monthly, isn’t it too good to be true?

Most times, if it is too good to be true, then it is a lie.

Too good to be true simple means you are suspicious of it because it seems better than you had expected, and you think there may be something wrong with it that you have not noticed.

Scammers know very well that many people want to become wealthy and financially free within a short period of time. That is why they show up with massive profit for investors. Millions of people have lost billions of dollars because they want to make money without paying the required price.

So, what scammers do is to promise you huge ROI monthly. They know that once greedy people see it, they won’t think twice. Greedy people want to reap where they do not sow. That is why they keep loosing everything.

(5). If the Firm is not Registered with Government Establishments.

The reason why government insist that you register your organization is so that you will have the legal backing to transact your business. 

Naturally, man is a greedy animal. It takes government registration and monitoring to tame greed. If a company is not answerable to the government, they can do anything they like.

Cryptocurrency is not completely bad, but it is not legalized or registered by any government. That is why many people come up with all manner of coin and swindle millions of people across the world.

I am sure you have read about One Coin and how Ruja Ignatova who called herself the Cryptoqueen defrauded millions of people. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to invest billions. Then, she suddenly disappeared till today.

You can call me old school, but I am not a greedy person. I don’t want to be rich overnight. I don’t want anybody to make me feel as if I am missing out of an investment opportunity. I must check the background of the organization.

(6). They Use Fear Tactic.

Fear tactic is when scammers use the following lines, “If you don’t invest in this great opportunity, you will not be wealthy in this life.” “Can’t you see the number of people that have signed up?, rush now and do likewise otherwise you will miss out.”

The next thing they will do is to pay a celebrity to endorse the scam. Some celebrities don’t do due diligence. Once you show them money, they will show their face on the ‘investment.’

Another strategy they use is to create multiple social media accounts to validate the schemes. The moment you see their adverts from today, just go through the comment section, then check the accounts of each commenter that validates the scheme—you will discover that they are the accounts of the scammers. They use those accounts with fictitious names to validate their scam.

One of those fraudulent schemes was advertised on Twitter few days ago. Of course, Twitter is not for the fainthearted. People called them out immediately. The next time I saw their advert, I discovered that they muted the comment section. They know what they are doing. They don’t want any sane mind to disuade people.

Don’t fall for it. Don’t allow anyone to bully you. Stand your ground.

In conclusion, don’t be greedy.

One principle that govern my life is; I don’t want something for nothing. I don’t want to be wealthy without playing a part. If you make money without going through the process, you will definitely squander it.

Anytime I see all these “do nothing and get rich quick schemes” I don’t fall for them.

Do likewise!

Endeavor to have an in-depth knowledge of every investment opportunity that people are persuading you to invest in. Read widely. Most importantly, ask questions. Ask experts in that field to guide you. Stop throwing your hard-earned money away. Use your brain.

Wisdom is profitable to direct!

What did you learn today? Share your thoughts with others at the comment section below.

See you at the top!

To order my life changing books, call Godwin on 07032681154 or simply click this link

Copyright 2020: Reprint, curation, adaptation, or reposting this article without the consent or approval of is a copyright theft.



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    1. sir
      you said it all, in acountry like Nigerian where. herdsmen and farmers clashes on daily basis, where there is no food security, an Agic company is promising 45 to 50 & ROI maybe rob peter to pay paul

  1. God bless you sir. You are simply amazing. This is coming at the right time. A friend is seriously distracting me to join one of those. I call it distraction now, because now I understand better. Chukwu go zie gi.

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