Financial Scams

by Jamie Hunson on May 26, 2010

Now a days, people often search for easy and quick ways to make money as they feel that money is the most essential thing to live comfortably. It is this need for fast income plus no work that causes individuals to be attracted in to great, often historical financial scams. One great example would be the use of historical Bonds. You observe, back 'in the day', there were plenty of gold bonds issued for a number of motives. A way for the government to obtain money with the promise to return it with interest. These bonds were payable in gold, and soon after a certain maturity level can be cashed in. The problem is that after a particular date they became useless. Nothing more than a piece of history ready to be conserved in a museum. The conartists sell you these relics or replicas that are in the museum. Commonly with rather official looking documentation plus after you've been roamed from bank to bank, you realize that it is in fact worth nothing apart from maybe some sentimental collector's value. If you're lucky, it may actually be an actual Bond, in which case you could get a small amount of money from a museum that hosts them. This is really a great exhibition of one of the historical financial scams. Viactuals Frauds is yet another wonderful example. The pretense is that you purchase someone's life insurance policy, making small investments. When they die you get the full death benefit from said policy. You as well walk away delighted knowing that your investments made a sick and tired individual's life a little bit better... isn't it? But you should be aware that you may come across some people who lie about their health just to grab your attention or for money, just like you school friend used to fake about his sickness. Your revenue could very easily be pocketed plus you're left all the poorer. Obviously, the world has countless of cheaters around who will use your hard earned money in form of investments and fulfill their needs, comforts etc. instead of putting your money in policy you asked for. And the world goes round. The best way to avoid these historical financial scams is to stay away from any offer that looks too good to be true unless you have the help of a real attorney or somebody who really knows what they are talking about. Scam artists are mostly experts at their occupation, hencewon't likely be seen.

General

Source: Writer is a quantitative researcher with specialization in derivative pricing, quantitative risk analysis and trading strategies - he kindly invites you to visit his blog - Quantitative finance for the latest development of financial engineering industry.
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