Tag: Money-Making Opportunity Scams

The FTC charged that a business opportunity and coaching scheme bilked consumers out of tens of millions of dollars. The scheme grew on the back of baseless claims about how much money customers could make.

A so-called investment opportunity reportedly took the social media platform WeChat by storm — and stole millions from the Chinese community in the U.S. A flurry of social media posts urged people to “invest” in various household goods and electronics, promising returns of 20-40% in 1-3 months. But it was really a scam. Want to know how to spot it?

You got the job! Work from home and earn top dollar. They already sent you a big check to buy supplies. (“Send us whatever is left, probably around $1,000,” they said.) If your alarm bells are clanging — great. This dream job has earmarks of a job scam.

Search online for “trading” or “investments” and you’ll be bombarded with offers, often from self-proclaimed experts, guaranteeing you’ll make big money fast. But no one can truthfully make those kinds of guarantees. That includes WealthPress, a company the FTC says violated the law by making false earnings claims to convince people to buy its financial trading services.

Here’s a scam we know is hitting the Korean community right now — but it’s just as likely to be coming soon to a phone or email inbox near you. Because one thing we know is that scammers never target just one person (or community). Read on so you can spot and report these scammers before they trick someone you care about out of money.