Scams How to spot them in Your Industry!

Protecting the consumers from the robbers!

7 Tips For Spotting An Investment Scam

Author: P. Christopher Music

Do you know the tale-tell characteristics that indicate “investment scam?”

Over the course of the last two decades in the financial industry, I have had good fortune, and yes, bad fortune in learning about the realities of investments.   When I speak with investors, it’s not uncommon for some people to insist on certain delusions they have accumulated regarding the subject.  This article is an effort to give you some the characteristics of any investment proposal that deserves your careful scrutiny and distrust.

Most investment scams have certain characteristics in common:

  1. 1. Secrecy – Any investment program that is worth anything can stand up to the scrutiny of financial advisors, accountants, attorneys and anybody else with some investment acumen.  Many scams create this confidentiality to give the investor the feeling that they are “on the inside,” privy to investments only available to wealthy families or a select group of fortunate people.  The confidentiality requirement is designed to prevent you from communicating with others about your involvement so you will keep believing what the scammers are telling you.
  1. 2. High Returns—What rates of return should a person receive for investing money?  Well, if it sounds too good to be true, it probably is.  While 20% returns may be possible for very speculative investments under certain circumstances, anything beyond that is simply not real over time.  If any return on investment is greater than what would normally be earned on that type of asset, it is a good indicator that something isn’t right.  Consult a knowledgeable financial advisor of your  investment plans if you have any doubt.
  1. 3. No Track Record — Any investment program should have returns that can be verified by a reputable third party, such as an accounting or law firm.  Further, the principals of the program should have fully verified backgrounds with a proven record of successful past investment programs.  Moreover, any start-up would have a logical product and a complete business plan replete with reasonable financials and marketing plan.  If there is no track record, forget it.
  1. 4. Lack of Full Documentation—Any legitimate investment has full documentation, including a prospectus (a document that explains the details of an investment) or offering memorandum (which is for private placement programs, investment programs that are made available to qualified investors and not to the general investor public).  Complete contracts would also be provided carefully covering all of the details of the proposed investment.  Insist on full disclosure.
  1. 5. Guarantees—To my knowledge, the only investments that provide guarantees are insurance policies.  If someone is offering you guaranteed returns or a personal guarantee, it’s not worth anything.  If you lose your money in the investment, the personal guarantee is only as good as the assets of the person issuing the guarantee (if they had the money for the guarantee, why would they need yours?)
  1. 6. No Registration with Regulating Authorities—In order to offer an investment to the public, in most cases, the principal creating such an investment will have to register it with the State.  Further, the person selling the investment will have to be registered with the State as a securities salesperson or investment advisor.  Lack of such registration is a red flag.
  1. 7. Offshore Tax Benefits — For American citizens, there are no offshore tax havens.  In other words, US citizens are taxed on worldwide income, regardless of the source.  Anyone stating that you can save or avoid income taxes by moving offshore is just dead wrong.  There is no surer way of creating a problem than attempting to evade taxes.  While there are asset protection reasons to use offshore entities, there are no legitimate income tax saving strategies offered offshore that cannot be done domestically.

I know I said 7 tips, but I thought of one more…

  1. 8. International Lure—Investing internationally has a certain allure to it.  It’s exotic and different.  The only problem is that you transfer your assets overseas and the chance of getting them back may be zilch.  The complexities of international financial regulations and laws make it a great justification for someone to not be able to deliver on intended investment results.  Just keep your money closer to home.

Greed and Desperation

People invest in these programs due to desperation for money or the desire of getting something for nothing.  The way to wealth is through investing wisely in your own ability and production and being intelligent enough to not spend everything you make.  Falling victim to any investment scam can be a significant setback to your quality of life.  Just don’t play that game.  Learn the natural laws of money and apply them and you will be where you want to be in due course.

Article Source: http://www.articlesbase.com/banking-articles/7-tips-for-spotting-an-investment-scam-1943536.html

About the Author

After 15-plus years of being a financial planner, Christopher Music decided there had to be a better way. Witnessing financial debacles of big industry and government-driven economies caused Christopher to take action, developing an instrument that measures the success of any financial plan. The Financial Security AnalysisTM (FSA) is the back bone of Music’s firm, Wealth Advisory Associates (WAA). WAA is a financial planning firm focused on helping private-practice physical therapists understand and implement the most effective strategies to achieving financial success and security. Visit http://www.wealthadvisoryassociates.com

About Roy McDonald

For the past 43 years, Roy McDonald has been searching out, creating, and pioneering some of the best strategies for creating wealth and success in people’s lives. He is the founder of OneLife International.

As an educator, author, business coach, and strategic planner, Roy McDonald is a hands-on wealth creator. The programs that he teaches at One Life International have enabled hundreds of satisfied clients to increase their belief in themselves and therefore their belief in their ability to create wealth.

Roy McDonald is a self-made millionaire and director of 49 different structures and interests in more than 24 companies that turn over in excess of $30 million a year (more than $700,000.00 a week!). This includes an Accounting Firm, a Financial Planning Company, a Real Estate Business, a Development and Construction Company, a Training Organization and other business including Investment companies, Trading Companies, a Travel Company, Farming and Cattle Breeding.

Roy McDonald has been educating people in wealth creation strategies for over 23 years and now with OneLife, Roy gives the participants of his programs a holistic and balanced approach to creating the life of their dreams.

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March 16, 2010 Posted by | Consume, Consumer Scams, Courses, fraud, Research sites, Seminars, Share Trading, Share Trading Seminars, Share trading Wealth Creation, Superannuation | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Fighting Fraud Online with New Offensive

Scam watch join the online offensive

Online fraud and scams has jumped up over the last year with a 16% increase overall in the complaints, 68.6% of that was via the internet. A new campaign from the government site http:scamwatch.gov.au has produced a banner that you can add to your site to help protect consumers.

Article reference:

Channel 7 Sunrise

Full List:

2010 Government partners

2010 Private partners

Top

2010 Community partners

Scams Target you

Add the scam watch banner to your site

March 2, 2010 Posted by | Business, Consume, Consumer Scams, fraud, government resources, Real Estate, Report a Scam, Research sites, Scam Games, Seminars, Share Trading, State Resources, Superannuation | , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Consumer Scam alert! Home insulation installers

Have you been scammed with the latest government rebate? What has this done to you we would love to here your feedback?

The federal government finally came to a decision on Friday the 19 of February that the  rebate or the home insulation program will finish. I have done some digging based on some of the principles my mentor Roy McDonald has shown me. So Roy if you remember from some of the other articles informed me to jump online and search some of the government websites as the regular news articles are not always right, they can be corrupted by the intention to sell more papers. Going around I found a great article for Victoria; Consumer Alert / Home Insulation Installers, Just click on that and you’ll find a great resources on what to do as a home owner in this mess and also as a installer of the insulation. Here are the topics they cover:

Before you insulate your home,

If you have had insulation installed recently,

If you are currently having insulation installed or are considering doing so.

This is the best one so I copied it over for you:

Insulation safety checklist for householders;

Yes No
Does your ceiling contain halogen down lights?
Does your ceiling contain incandescent down lights?
Do you have a gas heater with a flue that goes into the roof space?
Do you have a fireplace with a chimney that goes into the roof space?
Are there any TV boosters or security alarms installed in the roof space?
Are there any transformers in the roof space, for example, to service a door bell or other low voltage equipment?
Is there a high intensity heating lamp in the bathroom?
Is there an extractor fan in the kitchen or bathroom that vents into the roof space?

If you have had your insulation installed and you are wondering what to do about the safety checks go to Home insulation Program, this site is the department of environment, water, heritage and the arts and the page I have added the link to is the Home Insulation Program it also has information on or advice for installers.

Don’t be the one that is left in the dark on this one,  make sure you know your rights as Roy McDonald would say, get the facts and protect yourself from these scams and ripoffs. Once you have read those few pages you will find the right way to approach making your house safe and then you can receive the maximum benefit from your home insulation.

February 24, 2010 Posted by | Consume, Consumer Scams, government resources, Research sites, State Resources, Training | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Seminar Scams; Jamie Mcintyre Scam or Not?

The 21st Century Wealth Academy and Jamie Mcintyre, Real Estate Investing / Trading, Wealth Creation, Share Trading and more, so how dose this guy do so much and is it a scam? Jamie Mcintyre runs seminars all over Australia and online he also offers free DVD’s on his seminar, on them he talks about Investment Strategies for Real Estate Investing / Trading and Share Trading general Wealth creation stuff and so on, you can find them almost everywhere online, Financially Free DVD.

So I went for a look around like I recommend on this blog to find the truth on this guy Jamie and I found some interesting articles on some of my recommended sites like http://www.fido.gov.au and got a great article titled Another wealth creation spruiker caught out and the another called Action stops further promotion of wealth creation seminars. Now these where posted back in 2005 and its now 2010 so what now?

His Background (as stated on the fido.gov.au website)
21st Century Academy promotes, advertises and conducts a business of holding wealth creation seminars. These seminars, and related materials, purport to teach people ‘how to excel in the 21st century and make money while you sleep’. Mr McIntyre is described as ‘the founder and head facilitator of the Academy, …a self-made millionaire and an inspiration to thousands’.

ASIC secured interlocutory undertakings from 21st Century Academy and Mr McIntyre on 5 April 2005 to restrain this conduct, pending the Court’s final decision.

Also you may notice that on this page as well http://www.fido.gov.au/fido/fido.nsf/byheadline/05-167+Another+wealth+creation+spruiker+caught+out you have the results of what has gone on, the results of Jamie Mcintyres companies like 21st century academy. You maybe surprised as I was when I had first come across all this negative information about Jamie, you’ll see that the decision was made and Jamie was to not give advice until or unless its given by a company or persons that held a AFSL, Australian Financial Services Licence. There is a little more and you should have a read though that is pretty much the idea.

Here is another interesting part if you go to http://www.21stcenturyacademy.com/jamie-mcintyre.php you’ll see a brief bio on Mr McIntyre and at the bottom it has what he requires to give advice,

Jamie McIntyre is an employee of 21st Century Investment Services Pty Ltd and an authorised representative of Romad Financial Services Pty Ltd (AFSL No 238 032). Jamie has been certified by Romad as being qualified in the areas of derivatives, securities and managed investment products. He is currently authorised to provide general advice and dealing services in Derivatives, Deposit Products, Managed Investments and Securities (ASIC No. 321 315).

Here is another quote from fido.gov.au;

The Executive Director of Enforcement at ASIC, Ms Jan Redfern said the Federal Court’s action should remind consumers that it is important to check the credentials of people providing financial advice.

That is the kind of advice we like to here on scams in any industry weather it is seminars, real estate, business or what ever you name it, the truth will be found on a proper website like the ASIC one or any of the government websites we recommend.

So to wrap this article up I want to let you know the process here: We did a google search and looked for government websites, they have .gov on the end of there URL then we did some reading and did so until we found a conclusion to the story on Jamie, he was a little easier then some less known people though that is a good start in spotting a scam in any case.

February 23, 2010 Posted by | Business, Business Seminars, Consume, Consumer Scams, Courses, fraud, government resources, Real Estate, Real Estate Seminars, Real Estate Wealth Creation, Research sites, Seminars, Share Trading, Share Trading Seminars, Training | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Spotting a corporate scam in the industry your investing in!

Roy McDoanld has given me one of the greatest gifts that I could ever receive, and that is the gift of learning, Roy said that in order to move forward you need to learn from the past. In one of Australia’s biggest corporate scandals there can be a lot of learning. The asbestos scandal with James Hardie Industries took a turn for the worse when in 1995 the chief operating company was quietly stripped of its assets. Trade names, patents, huge management fees  and dividends flowed to the parent company.

“GREG COMBET, SECRETARY, ACTU: This is one of the most morally and legally repugnant acts in Australian corporate history.” ABC’s 730 Report

If we are to learn from this we could be to look into to corporate scams and frauds, Matthew Johnston from the University of Melbourne has written a great article on how “study shows how best to bust corporate fraud” this with research form KPMG. They also have some grate articles on fraud risk management and Unmasking the face of corporate fraud. Will help you gain a quick grasp on what can really go on in the corporate world.

Roy McDonald mentions that corporate fraud and scams are driven by greed and this is a trait of the ego as you start looking and researching you will find far more information then you need or will ever need, though once you have a basic understanding of how to spot a scam in the industry then turn your research attention to the people in control of the company and the character traits of them. Once you have your research then you can paint a clearer picture of where the company might be heading and if you should go and invest your super or money into it.

February 19, 2010 Posted by | Business, Business Buying, Business Selling, Business Seminars, Business Trading, Consumer Scams, fraud, Report a Scam, Research sites | , , , , , , , , , , , , , , , , , , , , | Leave a comment

List of the Australasian Consumer Fraud Taskforce: ACFT agencies

Here are a list of the Australian Government sites that are here for a resource;

A collection of great sites this is a perfect resource for you when you are doing you homework, researching a company, person or charity group. Bookmark this page so you have it as a quick reference.

Australian Bureau of Statistics produces research and statistics on personal fraud and scams in Australia.
www.abs.gov.au

Department of Broadband, Communications and the Digital Economy provides links to Australian Government initiatives to improve online security and fraud awareness.
www.dbcde.gov.au

Australian Competition and Consumer Commission is responsible for enforcing the Trade Practices Act 1974 and the state/territory application legislation. It provides advice about scams and how to report them.
www.accc.gov.au

Attorney-General’s Department works to improve identity security, combat identity crime and protect the identities of Australians from being used for illegal purposes. Current initiatives include: The National Identity Security Strategy, The National Document Verification Service (DVS), and the ID Theft – Protecting Your Identity booklet.
www.ag.gov.au

Australian Communications and Media Authority is responsible for enforcing the Spam Act 2003 and has developed an online tool to report spam.
www.spam.acma.gov.au

Australian Institute of Criminology (AIC) is Australia’s national crime and criminal justice research agency. Consumers can fill out a scams survey at www.aic.gov.au/research/fraud/acft/survey.html to gather information to help to improve the prevention, detection, investigation, and prosecution of scam offenders.
www.aic.gov.au

Australian Federal Police represented by the Australian High Tech Crime Centre (AHTCC) provides a nationally coordinated approach to technology-enabled crime. Its brief is to combat serious and complex high tech crimes, especially those beyond the capability of a single jurisdiction.
www.afp.gov.au
Media contact: National Media Team (02) 6275 7100

Australian Securities and Investments Commission (ASIC) investigates scams involving financial products and services including cold calling, phone investment scams and illegal investment schemes.
www.asic.gov.au

Great list from the Australian government here are some from the,

New Zealand Government;

Ministry of Consumer Affairs
www.consumeraffairs.govt.nz

Commerce Commission of New Zealand
www.comcom.govt.nz

Australian State and Territory consumer affairs and fair trading agencies

State and Territory consumer affairs and fair trading agencies protect and promote the interests of consumers by providing advice and assistance, enforcing state consumer laws, investigating complaints, and resolving disputes.

NSW
Office of Fair Trading (OFT)
www.fairtrading.nsw.gov.au

VIC
Consumer Affairs Victoria (CAV)
www.consumer.vic.gov.au

SA
Office of Consumer & Business Affairs (OCBA)
www.ocba.sa.gov.au

QLD
Office of Fair Trading (OFT)
www.fairtrading.qld.gov.au

Tas
Consumer Affairs and Fair Trading (CAFT)
www.consumer.tas.gov.au

NT
Consumer Affairs (Department of Justice)
www.consumeraffairs.nt.gov.au

WA
Department of Consumer and Employment Protection (DOCEP)
www.docep.wa.gov.au

ACT
Office of Regulatory Services
www.ors.act.gov.au

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Here is some other ACFT information

Taskforce partners

Taskforce members are joined in communicating with Australian consumers about scams by a range of community, non-government and private sector organisations. A list of Taskforce partners will be available on www.scamwatch.gov.au soon.

Reporting a scam

Consumers who think they’ve spotted a scam can report a scam or find out more information about scams on the SCAMwatch website at www.scamwatch.gov.au or call 1300 795 995.

Scams survey

Consumers can also fill out a scams survey on the Australian Institute of Criminology website atwww.aic.gov.au/research/fraud/acft/survey.html Gathering this information will help to improve the prevention, detection, investigation, and prosecution of scam offenders. Aggregated results will be available later in the year from www.scamwatch.gov.au

More information on scams

More information about scams can be found in The Little Black Book of Scams published by the Australian Competition and Consumer Commission, call 1300 302 502 or visit their website www.accc.gov.au

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Other useful websites or kits (see individual agencies also)

SCAMwatch

A site to help you recognise, report and protect yourself from scams. Explore SCAMwatch to find out more about the scams that target you or your small business. SCAMwatch is the campaign portal for the Australasian Consumer Fraud Taskforce.
www.scamwatch.gov.au

NetAlert

NetAlert is the Australian Government’s cyber-safety website. The site includes advice and resources on Internet scams, identity theft, spam and other online cyber-safety related issues.
www.netalert.gov.au

Protect your financial identity

This website provides information for the public about how to protect your financial identity in everyday life and minimise the damage if a problem occurs. This website has been developed by the Australian Bankers Association, the Australian High Tech Crime Centre and the Australian Securities and Investments Commission.
www.protectfinancialid.org.au

FIDO

The Australian Securities and Investment Commission website for consumers and investors includes warnings about financial scams, lists of illegal investments and unlicensed overseas callers promoting investment opportunities, tips on managing money, and information on how to complain. It also features case studies about people who were made financial offers that were too good to be true.
www.fido.gov.au

Stay smart online

The Australian Government’s e-security website for home users and small businesses. The site has a range of information and resources, including quizzes, guides, tools, tips and advice on how to use the Internet safely and confidently.
www.staysmartonline.gov.au

ID Theft Booklet – Protecting Your Identity

A booklet produced by the Attorney-General’s Department to help Australians prevent, and deal with, identity theft. The Booklet is about how to prevent, and respond to, identity theft. It provides practical strategies on how individuals can protect themselves from becoming victims of identity theft, and what to do if they become a victim of this crime.
www.ag.gov.au/identitysecurity

February 12, 2010 Posted by | Business, Consume, Consumer Scams, government resources, Real Estate, Research sites, Seminars, Share Trading, State Resources, Superannuation, Training | , , , , , , , , , , , , , , , , , | Leave a comment

Roy McDonald on Spotting Superannuation Scams

“How do you spot a superannuation scams”? I ask Roy McDonald? Roy said these are some of the super warning signs

Corporate superannuation scams

Australian Corporate superannuation

and how to protect yourself from them.

Are they a financial Adviser, do they have the licence numbers and have you checked this number out, to see if its real?

Be cautious, if they are saying things like this is quick access to money or unlocking a bulk amount real quick, then you should not be making a decision there and then. As always with investments that involve your super fund they are long term so a few more days will always be fine and will give you the time to investigate the back grown of this group.

Roy McDonald is always reminding me of my big picture, my 7 year plan and your superannuation is a big part of it. Have a look at the benefits that super funds offer, long term returns, early exit fees(especially if you have made some money the tax amount Roy said was really large). Why is that? Well because it is a produce designed to support you in the later years of your life. This is the long term part of your portfolio and you should always keep that in mind when you use your super to invest. Roy McDonald asked me to go and revisit my 7 year plan get into state and then write your strategy before you decide how you are going to use superannuation to invest profitable.

Kochie’s from channel seven has some great Superannuation Tips.

February 11, 2010 Posted by | Consume, Consumer Scams, Superannuation | , , , , , , , , , , , , | Leave a comment

Spotting a Business or Franchise Scam

We are really blissed when it comes to information online about spotting scams in businesses or franchises. Here is an example of some government websites;

Federal Trade Commission has examples of business scams:

http://www.ftc.gov/bcp/franchise/tsweep02.shtm

Australian Competition and Consumer Commission has the franchising code here:

http://www.accc.gov.au/content/index.phtml/tag/franchisingcode/

A great new one to me I just found is Fido, built by the Australian government, it gives you financial tips and safety checks:

http://www.fido.gov.au/fido/fido.nsf/byHeadline/Scams%20-%20types%20of%20scams

Also another site from a great business leader Brad Sugars:

http://www.actioncoach.com/bradsugars/how-to-spot-a-franchise-scam.php

The information is there so why are people continually scammed? Is it that they just don’t read this or is it that they are not really educated in how to spot scams or even how to spot a business opportunity? It’s a lot of both and can vary, Roy McDonald refers to a percentage of the population being 95% as having no or near nothing in the way of financial education. If Roy can say 95% with confidence we can say it’s that most people just don’t know and wouldn’t be able to spot the difference between a working profitable business, a working unprofitable business and a complete and utter scam.

Spotting a franchise or business scam is left to the government to police and they can be just as bad at spotting them as the general public. Have they ever had the experience of running businesses or doing the due diligences of investing in a new business opportunity on a on going basis? Not really and they shouldn’t need to! Everything should be fine people should not rip other people off and the world is perfect. Well in some peoples eyes that is the case because that is their point of view and that is where we can get unstuck as well. If you think any business or franchise will fit your personality then you will be in for a surprise when the business fails, because you don’t fit the role that supports the growth of the business. This has added another aspect to the equation and makes it even more complicated, you may be tearing your hair out right now though if your look at some of Roger Hamilton’s work  it makes the process of avoiding a scam simple. Roger Hamilton has a great system for budding business owners, its called the Wealth Dynamics Profile Test. This test will help you find out who you really are as a business owner and will show you where you are strong and where you are weak. As Roy McDonald puts it so gracefully; “If you understand yourself, then you can understand where best to excel in every endeavor”.

I’m going to be bold and say if you really don’t understand your personality and how you relate to others is business then you should not go into business, it is really that important to know yourself, if you don’t you maybe be left thinking that you have been scammed. So check out the Wealth Dynamics Profile Test and see how to best work in your flow.

February 10, 2010 Posted by | Business, Business Buying, Business Selling, Business Seminars, Business Trading, Consume, Consumer Scams, Courses, Seminars, Training | , , , , , , , , , , , , , , , , , , , | Leave a comment

The 6 Pillars to Spotting a scam

Weather its spotting a scam in Real Estate, Share Trading, Business or the Internet, you can take these 6 steps or pillars to guide you in the right direction to success and not be scammed. They are really about research, research into yourself and research into the industry.

http://www.slideshare.net/RoyMcDonald/6-pillars-to-spotting-a-scam

Here they are;

  1. What is the industry?
  2. Search on the warning signs for that industry?
  3. Search on how to protect yourself?
  4. Do more homework on your personal plan. What is your direction?
  5. Decide based on your personal plan.
  6. Never loses your capital.

Lets go into more detail here;

1. What is the industry? This can be quite simple, a google search like; The seminar industry, or The Real Estate industry, then just click on a few sites and read more. With your clear objective you will be able to find what you are looking for quite quickly.

2. Search on the warning signs for that industry? Again as you are going through the above process, you’ll almost automatically move into this search, keep it simply and use government sites as you can only trust someones opinion so much. Here are a couple of government sites: http://www.protectfinancialid.org.au/About-the-partners/default.aspx, http://wareseeker.com/free-government-agencies-that-protect-consumers/, http://www.sse.gov.on.ca/mcs/en/pages/default.aspx.

3. Search how to protect yourself? The second site, in number two, is a great site for this it list all the free government agencies that will support consumers.

scam support pillars

Avoid Scams with the 6 Pillars

4. Do more homework on your personal plan. What is your direction? What is your personal plan? Her are some great resources; http://www.slideshare.net/RoyMcDonald/seven-year-plan-ebook-by-roy-mcdonald, http://www.slideshare.net/RoyMcDonald/my-seven-year-plan-roy-mcdonald

5. Decide based on your personal plan. This one is very self explanatory.

6. Never loses your capital. This is very important, if you have no capital then you are out of the game all together and it may take some time for you to get back into the game. Always know where you sit with you long term plan and amounts you can spend on new ideas, products or services.

In Closing Roy McDonald’s seven year plan in the link above is a great resource. Weather you think you have a plan or not, you do and as Roy also says, “If you don’t have your own goals then you have been enrolled in someone else’s”, “Weather you have a plan to succeed or fail, you always have a plan”.

February 9, 2010 Posted by | Business, Consume, Consumer Scams, Courses, Real Estate, Seminars, Share Trading, Training | , , , , , , , , , , , , | Leave a comment

Consumer Protection From Scams

Protecting consumers from scams, how do we do it I ask my mentor Roy McDoanld? He replied that there are a lot of government websites like:

http://www.australia.gov.au/topics/economy-money-and-tax/consumer-protection

http://www.scamwatch.gov.au/content/index.phtml/tag/scamwatch/

http://consumer.gov/ncpw/

Though it is really about the consumer them self. How is that Roy I asked? Well just listen to the language you use there, “consumer” they consume, so first of all they need to take a good look at them self and ask, ‘Is that the person who I want to be? A Consumer’? Roy Mcdonald also asked me, ‘Do you want to be another statistic or do you want to be ahead of the pack and make a difference to this great world’? I replied with an enthusiastic “YES”  and Roy replied. All day long we are bombarded with media, “buy this”, “buy that”! What you need to be is “You” yourself and where you are going, then you won’t be consuming your way through life. Roy paused and looked at me…I was starting to understand as Roy began to add more. Lets do a search, this was on one of the first sites we found:

Consumer Culture. The term “consumer culture” refers to cultures in which mass consumption and production both fuel the economy and shape perceptions, values, desires, and constructions of personal identity.

This is the site: http://www.encyclopedia.com/doc/1O119-ConsumerCulture.html

Protecting Consumers from Scams Lessons from Roy McDonald Article

Protecting Consumers from Scams when Ads are Everywhere

Can you see a little clearer now? How people refer to them selves is a big deal. Think about yourself as this now and imagine your walking into a seminar to learn about real estate or business. Now think “consume” are you thinking? Now a decision comes and you are asked, would you like “A”  or “B”…What is your first thought? It would, 90% of the time be “A or B” and nothing that is inline with your goals or vision of the life style with your family, that was most probably the driving factor that got you to this seminar in the first place. It’s quite simple Roy said, if you want to be a consumer and get scammed ten that is your choice! If you want to be an achiever and a go give in this world you need to focus on the positive goals and vision you have for your family. You need a plan to be educated in an area that will provide for you and your family, like wealth creation and not educated in consuming. As Roy finished he said, Its about your focus…What is the education you are focused on? What is the plan you are focused on? What are your goals focused on? Focus leads to clarity, clarity is power and the power is in the present. Say that to yourself a few time Roy said and truly understand that sentence and you are on your way to protecting yourself from consumer scams.

February 8, 2010 Posted by | Business, Business Seminars, Consume, Consumer Scams, Courses, Real Estate, Real Estate Seminars, Seminars, Training | , , , , , , , , , , | Leave a comment

Spotting a Business opportunity Scam

A Business Opportunity scam can come in many ways, from an email, a flyer in the post, direct mail in your letter box and so on, really what we are looking at here are businesses that require an up front amount that must be paid ASAP (as soon as possible). My mentor Roy McDonald said “You should always take you time with a business and evaluating that opportunity”. We want to be very present when we come across a marketing material with the wording “Business Opportunity”.

Check in with yourself, dose the product or service that the business will offer sound like something you would invest in?

Is there a actual address that you can go to and how long has that business been at that address?

How many references do they have and can you meet these people?

This is the real truth of it; You are going to be the one that will make the decision! You and only you!

Take control of your Life, your Time, your Money

– Roy McDonald

So if running a business is new to you then you will need to be sure that you follow a few of these tips:

1. If the business goes bad, will you have any working capital left to invest into another business or even keep living

Roy McDonald avoid Business Scam

Finding Solution to avoid a scam

your life style?

2. If the business needs amounts of money beyond what you have contributed, will you be able to make them?

3. If you are going to be the manager or if something happened to the managers of the business would you be comperdent and able to run this business in the same way or better?

4. How dose this really effect your life style; With the outlay of money. With your time involvement. With the possibility that all may go wrong, you lose all that you put in, the worst case possible.

A business is a vehicle that ideally will move you towards your goals. So dose this do that and what about the time frames for the good the bad and the ugly circumstances. Will you be working for the business or will the business be working for you?

Here are some great reference articles for you to check out on some government websites:

http://www.scamwatch.gov.au/content/index.phtml/tag/BusinessOpportunityScams

I love this site because of the video’s, you just can’t go wrong with a video;

http://consumer.gov/ncpw/business-opportunity-scam-artist/

In closing as my mentor Roy McDonald has always put, “If you don’t stand for something you will fall for anything”! Start creating your goals today, create success habits that will teach you how to understand what a business really is and how they perform. How businesses are bought and sold is pretty simple its a lot like a house, if there are no contracts, no buildings, no employees then that is a hint, spend the time and the money to do your research and you won’t get caught up in the business scams out there. Regards, Mark

February 5, 2010 Posted by | Business, Business Buying, Business Selling, Business Seminars, Business Trading, Courses, Seminars, Training | , , , , , , , | Leave a comment