The world economy is currently bullish, stocks market is booming, and luxury products are getting more attention and buyers. Scams are not restricted to just those famous online 419-type of fraud. There might be investment scams that will target on those who are greedy – which happens all the time in a bull market.
btw, what is a bull and bear market and why are they called a “bull” or “bear”. According to a book we read, the author says that a bull charges with its horns pointing upwards, so it means that the stocks prices are rising. The bear attacks by swinging its claws downwards, so it is used to mean to falling stocks prices.
In a bull market, there exist what we called “a weakness” called “Greed” –> Strong Buying
In a bear market, there also exist “a weakness” which we called “Fear” –> Strong Selling
These are not new to experienced traders and stock brokers.
A scammer or social engineer]]> will be able to capitalize on similar characteristics and target the weakness of anyone in any “market” condition. Scams happen everywhere, and anytime, since there will always be someone with the “weakness”.
So far most of the scams we know are associated with “Greed”, e.g. instant cash, lottery wins, fake stocks news, special discounts, freebies, etc.
What about “Fear”?
Ever heard about people scammed into selling their assets thinking that a crash is coming or rumors about changes in policies. Or being scammed into buying something after hearing all the bad stuff if they do not own that particular product?
We will be updating some sections of our sites with some anti-scam site or links. This will include some generic preventive measures against common scams, and including email scams, phishing scams, 419 scams, etc.
The related links page has also been updated with a large number of new sites based on our research with other partners in the same league.