Here are few tips
on how to detect fraudulent schemes and protect
oneself and a real life story of fraud work-at-home
scheme that happened in Bangalore.
Tips on How to Detect Fraud
Work-At-Home Scheme
- Be suspicious of schemes that offer large
amount of money. Fraudsters have successfully
used greed for centuries to cheat people.
- Be particularly wary of jobs that require
low or no skill like envelope stuffing schemes.
Low-cost, modern mailing technology has virtually
eliminated the need for workers to perform bulk
envelope stuffing, addressing, and mailing services
from home.
- Real Work-At-Home Schemes seldom send unsolicited
e-mails. Be suspicious of extremely attractive
offers from unknown persons (unsolicited or
spam e-mail).
- Most fraudulent schemes have elements of secrecy,
urgency and promise of easy money. Be wary of
any scheme that has these elements.
- Carefully evaluate offers that require no
skill or experience and require very little
time.
- Do not pay upfront unless you have thoroughly
investigated the offer
- Ask for references
- Talk to people who have participated or are
presently working in the scheme
- Surf various Internet fora, ask questions,
search for references in Usenet discussions.
You may find useful accounts from past victims.
(please see back issues of FAIDA for information
on Usenet. The link to back issues of FAIDA
is given at the end of this e-zine).
- Check various anti-fraud sites. vanik.com
has a section on scam watch and links to useful
sites.
Real Life Story
Dx-Logix (name changed), 'the complete IT enabled
services lab', as they call themselves, is a company
that has duped over 400 people in Bangalore and
fleeced crores of rupees.
Dx-Logix claims it is a direct agency of a US
based company and associate of another Singapore
based company. Shankar (name changed) made a one
time non-refundable investment of Rs 50,000 to
obtain a 12 month data conversion franchise from
Dx-Logix. He was given bulk data for conversion,
which he did and was paid for.
But, when paytime for his second and third assignments
came by, the company said the payment had not
come from the partner company and they would pay
later. "But the money never did come through."
This is the story of 400 other people who worked
for Dx-Logix. Says Sujatha, "I lost more
than Rs 2-3 lakh,"
When the franchisees went to the Dx-Logix office,
they were given cheques which later bounced. The
company issued cheques dated May 20 to be drawn
on Karnataka Bank, Mahalakshmi Layout branch,
to all the 400 people. On May 19, the company
withdrew Rs 10 lakh from the account, leaving
it almost empty.
Sources in the bank said that Dx-Logix had issued
many stop payments and cheques it had issued had
bounced.
Later, Dx-Logix sent out letters asking them
to re-present the cheques on June 5 and again
on June 17, When Time News Network tried to contact
Dx-Logix CEO on the telephone, it found the office
telephone lines disconnected. He couldn't be contacted
on his mobile either.
As the cheques started bouncing, franchisees
sent Dx-Logix CEO a legal notice at his Kumara
Park West office. It returned with a 'door locked'
stamp.
Source: For full story
with real names, please see The Times of India
, Nov 23' 2002
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