Chain letter scam!
Chain letter scam. There is no doubt about it. It is illegal and it is a scam, always has been, and it appears that it always will be. It is almost amazing to think that the chain letter scam was probably one of the earliest scams out there, and yet even to this day, they are still here.
It has changed its name and methods many of times in the past to hide what it is, but if you are observant enough, you will notice that they are still chain letter methods. Let me first explain what chain letter is. Chain letter is a method where you either need to pay them a small amount of money or provide them with your private information. After that, you will be required to send out an e-mail similar to that to as many people as possible. Sometimes, a list of e-mail is provided, sometimes you will need to find e-mails on your own.
In most cases, you will need to pay a certain amount. They usually use a MLM or Multi Level Marketing Pyramid scheme here. They will provide you with a list of names and account numbers. What you need to do is send the money to the person who's name is on top of the list. After that, they will remove the name on top, and they will include your name and account number at the bottom. And each time a name at the top is removed, your name gets closer to the top.
The pulling attraction here is that they make you think that by the time your name reaches the top, there will be hundreds to thousands of people who will send you money to get their names into the list. Problem is, your name will never reach the top. It will always be their own names or their fake names. They will use plenty of examples and even diagrams to show you how much you could potentially earn.
This is the secret to chain letter scam. They try to get people interested by showing them huge earning potential. But think about it logically, this methods doesn't even promote any products or services at all. What is going on here is they are just recruiting people to send money to other people. When you look at the basis of how it works, it doesn't look too attractive or reasonable now does it.
Sometimes, they will throw in a product as well. In most cases, it will be an e-book. Just to make it look as though you are still getting something for your money. That e-book is probably written by them, and doesn't hold any value to it whatsoever.
Chain letter is illegal, which means that taking part in it could eventually make you end up in court. Not a nice scenario to be in no doubt. But many people have already fallen for this, and there are still people who are falling for it. Please never take part in the chain letter scam, and advice all your friends and relatives not to as well.
Chain Letter Scam: Return to the Online Danger main page
Please click on the link above to learn about other such dangers