How to Identify and Avoid Fake Money Double Scheme on Facebook

Fake Money Double Scheme

Fake money double scheme has become one of the public concern in the world today. Hardly will a day pass without seeing someone who has been scammed. This post is to help you identify and avoid the so-called get rich quick scheme, which many people referred to it as Ponzi scheme. You can see them On Facebook, Telegram, Whatsapp, Instagram even on some websites.

Money double scheme, Get rich quick scheme, and Ponzi all belong to the same group. They are financial arrangements whereby those who are the owner promise to pay anyone who invested in their scheme double of his or her investment. These guys claim it’s a fixed deposit and that you are to leave the money you invested for a certain period of time for your payment to mature.

Over 99% of these schemes are fake and do not have any financial security. Many people have fallen victim to this prey because they think it’s real. The truth is that there is no legally recognized platform that can maintain the kind of return these fake schemes claim to offer. This is why they turn you down in the short run.

Some platforms in these illegal ploys go a long way to deceive people as short as 2-3 days or long as one month, three months, and above. This is a way to convince or make their prospective victims believe that they are on real-time business.

Today, Facebook has become a commonplace where they can easily find those who can cart away their money.  You would see a number of Facebook users who complain they got scammed on a daily basis. They are making Facebook their home point because it’s the largest online community in the world. Both the old and young people get affected, and all you need all the time is to keep your two eyes open so that you can identify these fake schemes that may come your way. I’m going to teach you how to identify and avoid the fake money double scheme.

How Does Fake Money Double Work?

The fake or get rich quick scheme come in different forms, it may come as fiat money or BTC investment. They will ask you to invest money. Each platform, Fiat money, BTC, and Etherum has it’s strategies put in place to deceive the unsuspecting members of the society. I felt into one of these schemes in 2018 where I lost all my BTC and to date, no one has been able to find those behind the criminality.

You will see them asking you to deposit a certain amount of money or BTC that after some days or months that you will receive the same or half your investment as interest. The Crypto type of scheme is the worst because it’s not traceable like the fiat money investment.

How To Identify Fake Money Double Scheme

You can find that a platform offering  financial services is fake when they have the following features

  1. Unregistered Name
  2. Unregistered and Unknown Office
  3. No identifiable Owner/owners
  4. Short Time Investment Maturity
  5. Undocumented Transaction
  6. High Return/Interest Rate
  7. No Acceptable Advertisement Network, Only Through Referer

I’m going to explain to them in seriatim so that you will understand how to avoid losing your hard-earned money to the scammers online.

Unregistered Name

One of the ways to spot a fake money double scheme is to check whether the platform is registered. It is impossible in this era to see a financial company without a registered name. So, whenever a get quick rich scheme comes your way always look out for the registration details. There are directories online that contains all the registered business names in your country. The commission charged with the duty to incorporate a company usually has a website that will make all the names accessible.

What you will do is search for the name on your countries commissions website, if the name is not there then you need to set aside your plan to invest in such a company or website.

Unregistered and Unknown Office

A financial institution, company, or website is by law required to have a registered office. It’s funny that these fake money double schemes usually don’t have an office where you can go to anytime you want to make a physical inquiry. They may add an address to their sit map but it’s fake. When some ask you on Facebook, Instagram, telegram, Whatsapp to invest your money, first of all, ask the person the location of his physical office, He’s likely going to run away.

No Identifiable Owner/Owners

This is another way to identify a fake money double scheme. These fraudsters will keep referring you from one person to another. If you ask them who the owner is they will immediately fabricate a story. All the financial institution I have had business with have identifiable CEO’s, Board of Directors, Managers, and worker. Before you invest money on any financial platform make sure you know the people behind the business.