6 Things to know on how to spot a pyramid scam!

1. Do you have to pay for your sales job?

2. Is it really about selling?

3. Is it actually about recruiting?

4. Are you buying or selling?

5. Are you paying to be trained and “motivated” by the company (or upline) you work for?

6. Does the company provide enough information for you to do your won “due diligence?”

taken from “What about this one?

Reasons Why Many Filipinos are Scammed by ‘Get Rich Quick’ Investments, And How To Avoid it.

Since last week, the issued about the Aman Futures Group Scam is still in the hot seat of all Philippine news, blogs, social networks, and concerned Filipino citizens.

This early morning, I was listening to Radyo Balita News 5, and it seems that NBI is now getting into the scene.

 They are trying to find out who are the perpetrators of this investment scam owned by Manuel Amalilio, who was reportedly fled to Malaysia. You can read the whole details of the new here – Aman Futures Group Scam.

So the question is this – ‘why is it that many Filipinos are still getting scammed by these kind of groups’?

I am not only talking about investment scams, but pyramid networking scams,travel club membership scams, etc. 

The first reason is ignorance.  We have a Filipino proverb that says, “Walang manloloko kung walang magpapaloko. 

Scammers are always looking for people that can be easily convinced by means of glossy and beautiful brochures, testimonies of past customers, endorsement of prominent people,friends,relatives,and even seminars. 

They are also blinded by the ‘get rich quick investments.’ However, ignorant is not an excuse, we humans should use our common sense and our thinking before we give our money to these scammers, or before we join any kind of investments. 

The second reason is greed. I do not know if this reason will be acceptable to my readers, but as far I see, greed is one of the main reason why many are getting scammed. 

So what is greed? It is an excessive desire to possess more.  

We humans have the tendency to desire something more. However, this is not good. Greediness will cloud your judgment and reasoning, same with investment scams. 

When I was in college, I have a friend who had plenty of money. He earned it by selling food products to the students and it was very profitable. 

Then he joined a networking group who promised him that he can earn a big interest of money if he will invest it in the company.At first, it was good, pero habang tumatagal ay umuunti ang kanyang nakukuhang interest. 

Hanggang nawalang parang bula ang kumpanya. Nang magkita kami, I asked him why did he joined. He told me that he really wants to earn lots of money. But because his judgment was clouded, he did not study it first and check the company’s credential. 

Ang tangi lang nyang iniisip ay ang pagpapadami nang pera. At the end, he regretted what he did. 

The third reason and the last is poverty. It is sad to say that many Filipinos are in poverty line, and this problem is always used by scammers to fool many Filipinos.

I remember the story of my wife. She told me that there is a group of people in Palawan claiming that they are connected to the late President of the Philippines and his family. 

They used the name of this family to convinced people to join them. They also said that once you join their group, you will be given a share of the family’s wealth like gold,diamonds,treasures,and many benefits too. 

But before you can avail this, you need to be a member by paying a monthly membership, and do community services like planting trees etc. Ang masama pa, ang itatanim mo na mga puno ay kailangan mong bilhin sa kanila. 

These poor people do not have any ideas that they are just being fooled. Blinded by the company’s promises and scam practices, their hard-earned money goes to nothing.

So how can we avoid this investment scam groups, pyramid networking scam, etc.?

1. Avoid seminars that make claims that you’ll get rich in a short time. This is what happened to those who invested in Aman Futures Group. They were told that the money they will invest will offer a high return or it will be doubled. This is not a genuine investment.
2. Avoid people or company who pressures you into investing and borrowing money.
3. Do not believe the idea that the more you invest money, the high the return is.
4. Do not easily believe by their glossy brochures, free seminars, even endorsements of prominent people.
5. If you are unsure of their existence and legality, consult your local government of Department of Trade and Industry.
6. Avoid a company that says that financial success is easy and not risky. To become a wealthy person involve planning and hard work.
7. Do not believed companies that promotes unsolicited emails, surprise phone calls especially those who are based abroad.

I hope that this short article will give tips and insights about these scammers. If someone will come and approach you, just think of the 7 ways to avoid them. If not, you will regret it forever.

5 things you must consider before you join Multi Level Marketing or Networking

We, Filipinos are known for being “madiskarte” when it comes to earning money, and we will do everything just to earn money by joining any business opportunities. Nowadays, many Filipinos ventured the world of Multi Level Marketing or Networking. For the past years, we heard and seen many MLM companies sprang up in Philippines.It had been said that this is the fastest way to have a job, and to get rich.

But the big question for those who are planning to join MLM is this,”Is Multi Level Marketing for you?” Majorities of MLM companies in the Philippines recruit persons to join the sales network, and in return, you will earn points that will be turn into cash. You will also be required to pay an initial fee so you can sell the company's’ products. You must also recruit members because it is the “butter and cream” of your income. If you are planning to join any MLM companies, then you must consider the following things: the product,the company itself, the people who joined,the compensation plan,and the benefits.

1. The product. What is the quality of the company’s product? You cannot sell effectively to your customers if the products are not of good quality.
2. The company. Is the company been operating for a long time? Is it a stable company?
3. The people. You must ask and interview those who have been selling their products successfully, and those who failed. This will give you a balanced evaluation of their marketing strategies.
4. The compensation plan. MLM business requires a person who can communicate, can convince customers to buy the products,a person who can work hard to meet monthly goals, and enjoys recruiting new members. If you do not have these qualities, then you cannot earn a good compensation from the company.
5. The benefits. Will you get benefits if you will join the company. Do they provide training and seminars? Do they give incentives and gifts.

If you feel that MLM is for you, then join it. But if you do not feel that it is for you, then you must not. Many people who joined MLM were pushed by their relatives and friends, attracted by the company’s advertisements, and quick to get rich ideas. So before you join any MLM companies, think and evaluate first so you will not regret it.