1 / 7

Fraudulent Sales Callers

Fraudulent Sales Callers. They All Have One Thing In Common. They are skilled liars !. Boiler Room Fraud. High Pressure Sales by Phone Temporary Office Location Sales People Trained to Lie and Deceive High Pay-Offs Promised Con Artist Takes Money and Runs Investor Never Sees Money Again.

sakina
Download Presentation

Fraudulent Sales Callers

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Fraudulent Sales Callers They All Have One Thing In Common They are skilled liars!

  2. Boiler Room Fraud • High Pressure Sales by Phone • Temporary Office Location • Sales People Trained to Lie and Deceive • High Pay-Offs Promised • Con Artist Takes Money and Runs • Investor Never Sees Money Again

  3. Pyramid Schemes Are a Fraud • One person recruits five friends who pay $5 each = $25 • Each of those five recruit another five ($5 x 5 x 5 = $125) • The first five receive $5 but now, the other 5 new people recruit another five at $5 each [($5 x 25) - $25] = $100 • Twenty-five new recruits get another five each for 125 new members [(125 x $5) - $125 = $600 • Keep doing this until questions are asked • Almost everybody loses money • Ponzi skips town

  4. Most Pyramid Schemes Are Illegal Levels Number of Participants 1 5 2 25 3 125 4 625 5 3125 6 15,625 7 78,125 8 390,625 9 1,953,125 10 9,765,625

  5. College-Aid Scams • Criminals prey on desperate parents and students • Promise to intercede with organizations offering scholarships, grants and aid • No one has exclusive access to monies • Usually charge an upfront fee • Avoid companies that offer money-back guarantee • Avoid high pressure sales tactics • FTC guide to avoiding scams: www.ftc.gov/bcp/conline/edscams/scholarship

  6. Other Scams and Schemes • Precious Metals and Dirt Pile Scams • Promoters bamboozle investors with mumbo jumbo about methods for refining precious metals • Investors pout money into non-existent or low producing mines • All they get for their money is dirt • Insider Trading • Secret information to help you make a lot of money. • Is against the law • Why would they be sharing such a secret with you. • Business Opportunity Scheme • Appeal to Being Your Own Boss • Promise High Income • Requires High Start-Up Costs • Unemployed People are often Victimized • Only the Swindlers Make Money

  7. Warning Signals of a Scam • High pressure sales techniques • Promise of high return on your money • No-risk investment • No printed material on item for sale • Promise of an opportunity if a lifetime • Lies and false promises • Limited time offer, opportunity gone tomorrow • Critical of common investments such as CD’s and savings account • Caller needs an “expression of good faith = $”

More Related