Ponzi Scams, Phishing Emails, Fake Websites & HYIP Archives » Page 5 of 5

Fake PayPal email

Now that you have a PayPal account, you should be wary of emails you receive supposedly from PayPal. Although the email might have a header and logo similar to that of PayPal, most of these are actually phishing mails intent on stealing your personal information.

More information about phishing, how to check if an email is fake, and ways to protect yourself from phishing can be found in the What is Phishing? article. A sample phishing website is explained in the “Beware of the fake egold website!” article.

Yesterday we received an email purportedly from PayPal asking us to login to the site to update our personal records. Failure to do so, the email says, will result in account suspension. Here’s a screenshot of the email.

What is a Ponzi scam? Why is it called Ponzi?

Ever wondered why some scam programs are named “Ponzi?”

The term “Ponzi” is derived from Charles Ponzi (pic on right), an Italian immigrant, who ran his original scams in Montreal before moving to Boston, where he initially worked as a clerk.

What are HYIP or High Yield Investment Programs?

What are HYIP High Yield Investment Programs What is an HYIP?

An HYIP (High Yield Investment Program) is an online investment program that typically offers very high returns on the capital invested. The returns are so high — sometimes reaching 100% return on investment in just one day — that most of them are obvious scams.

Majority of these schemes operate as Ponzi investments, which means profits of earlier investments are paid using money from new investors. Once new investments declined, earlier investors cannot be paid anymore and eventually the program folds up.

Ponzi Scams, Phishing Emails, Fake Websites & HYIP

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