Have you heard of High Yield Investment Programs(HYIP)? If you have, I hope you haven’t lost any money. If you haven’t lets try to keep you from wasting time and money. Now it might be unfair to label all HYIPs scams but the fact is the majority of them are and almost always fold within time.
So what exactly is an HYIP?
HYIPs refers to an investment that claims to give you outrageous return on your money within a short period of time. Many of these sites take your money and claim to do some sort of investment and in return give you very high interest rates. Rates and durations go anywhere from 15-1000% and days to months!
Searching for different ways to make money online I stumbled upon these programs. Many sites even have high group of followers and special sites in just reviewing the illegitimacy of all these sites. Most HYIPs have very little information about their investment, management and company. The information given is usually very vague but convincing for the money hungry.
If it sounds too good to be true then it most likely is! Now with that out of the way how exactly do they scam?
Posted in Red Flag Scams | Comments (1)
