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Linda Webb, fraud expert talks to the Press

Linda Webb, Fraud expert

Fraud expert Linda Webb, aka The Fraud Dog, says that the newer or more “cutting edge” it maybe the easier it is to commit fraud. The reason is simple, because the process is so new people and investors are not educated enough on how it works and the fraudster knows that. Even when you do your due diligence by researching on the internet, there may not be enough information to make an educated decision. Promises of quick and high returns on investments should be closely watched for potential ponzi scheme development.

Other areas of concern are the increase I-application games that are leading you to buy virtual coins with credit cards, in order to play the games. Games that encourage you to buy more coins are simply another form of gambling where they are enticing you to purchase something to continue playing the game. Buyer beware says the Fraud Dog when you buy virtual coins to play a virtual game on your tablet.

 

Excerpts from the SEC article:  Click Here

 

As with many frauds, Ponzi scheme organizers often use the latest innovation, technology, product or growth industry to entice investors and give their scheme the promise of high returns. Potential investors are often less skeptical of an investment opportunity when assessing something novel, new or “cutting-edge.”

 

Fraudsters may also be attracted to using virtual currencies to perpetrate their frauds because transactions in virtual currencies supposedly have greater privacy benefits and less regulatory oversight than transactions in conventional currencies. Any investment in securities in the United states remains subject to the jurisdiction of the seC regardless of whether the investment is made in U.s. dollars or a virtual currency.

 

Report your fraud here!

 

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