Wealth Building Scams

I have some good news and I have some bad news. First the good news. The number of infomercials on television is decreasing.

Some might say that is great news. But, before you yell hurray, here's the bad news. They are reincarnating as web sites. Changes the whole picture, doesn't it?

For those who've never seen an infomercial, it is a program-length TV commercial touting easy ways to make money in a variety of ways.

Real estate is probably the most often run program. Others include low-interest government loans or grants to start a new business or go to college.

Then there are the old standby classified advertisement sections in newspapers or magazines promising "big money" business opportunities and/or work-at-home schemes. The companies behind these infomercials and print ads claim that by using their products and services, you can learn how to increase your wealth or start a business from the comfort of your home.

These infomercials and advertisements make it very clear you can make the big bucks only by purchasing their books, audio and video tapes, or computer hardware and software. The materials range in price from less than $100 to several thousand dollars.

To clinch the sale, some promoters include a toll-free telephone consulting service with your purchase and offer a money-back guarantee. The fine print in the guarantee is what gets most people.

Web sites promoting these same type of "opportunities" look like an infomercial. Hype, glitz and promises of big money adorn the screen. On the other hand, contact details, other than ordering information, is scant if existent at all.

On television, these infomercials are designed to look, feel, and sound like real TV programs. The FTC says "they often imitate the format of genuine talk shows or investigative consumer news programs."

Because they imitate real programs, "the products being sold often are discussed as part of the program and touted by paid "experts," "moderators," or "reporters", according to the FTC. The programs may last for 30 minutes, interrupted by advertisements for the shows products with ordering information.

As in the offline world, online promoters of wealth-building schemes claim that if you follow their methods, you can make substantial sums of money. The means to easy wealth have shifted from real estate and government auctions to web site sales and development, autoresponder sales, gift clubs and bulk email programs.

The offline world uses the infomercials and advertisements to invite you to attend seminars where you can learn more about their program. You can rest assured the seminar is a slick sales pitch.

The smooth-talking salespeople tout the programs, materials, and services and use testimonials of the people in the back of the room selling the materials to illustrate what easy money you can make. The truth is these people are paid to give testimony. They are on the payroll as salespeople and that's it.

At these seminars the pitch is feverish and it is easy to be lured by promises of success into parting with your money. They are designed to work off the herd mentality. Don't fall for the nonsense.

On the Internet, the herd mentality is engaged through testimonials and a rush to action. You are encouraged every step of the way to BUY NOW! There are only so many days left and this opportunity will be gone forever or some other such nonsense.

The FTC, and everybody else who has studied these programs, gives the following advice:

1. Be skeptical about "get-rich-quick" advertising claims.

2. Ask companies for written substantiation for claims in their presentations, especially those about success rates.

3. Be aware that "experts" who endorse a product often are paid by the advertiser.

4. Be cautious about "testimonials." They may be paid for and probably owrse, do not reflect the experience of most consumers.

5. Be wary of purchasing a program if company representatives give you evasive answers or aren't willing to answer your questions at all.

6. Before you buy, decide whether the price reflects a fair market value.

7. Be wary of promises of free money or low-interest government loans. As a rule, these are available only in limited circumstances.

8. Dont be pressured to purchase immediately. Good opportunities are not sold through high pressure tactics.

9. Before you buy, ask about the companys qualifying requirements and refund policy.

10. Check out the company with your local consumer protection agency, Better Business Bureau, and state Attorney General's office. They should be able to tell you if any unresolved consumer complaints are on file.

Additional consumer protection resources are available at your local library. Check out materials on personal finance and those geared toward the small business owner.

Your local community college may have a marketing department. Call and ask to speak with one of the professors. Explain the program and ask his/her advice/opinion.

The Small Business Administration and your state and local government have publications and programs for new and potential business owners. Write or call and ask for a list of available publications.

Tap into the Internet. That's right, search engines could turn out to be your best friend. A host of scam busting sites exist and expose scams online and offline.

As always, common sense is your best weapon in the fight against this garbage. If it sounds too good to be true, it probably is. However, if you have more than a passing interest, do your homework. Getting too much information is not a crime or a hazard to your wealth.

GUARANTEED! Turn your paycheck into a cash flow geyser. tom-koziol@excite.com Dollar$ign Newsletter provides proven paycheck stretching money management tips, tools, techniques and strategies to increase your personal cash flow. This is YOUR fail safe money management program. FREE subscription at tom-koziol@excite.com

cheapest limo Akin .. Lockport Chicago limo O’Hare

In The News:

Tech expert Kurt “CyberGuy" Knutsson says using outdated computers and software leaves them vulnerable to security risks and malware.

Tech expert Kurt “CyberGuy" Knutsson reveals how WalkON enhances walking and jogging with sensors and artificial tendons.

Old-fashioned check fraud is back in style, quintupling over the past year. Here are a few low-tech, practical means of protecting yourself.

Tech expert Kurt “CyberGuy" Knutsson discusses how 600,000-plus records, including checks and property data, were left exposed online by an information service provider.

That weird text from a friend may actually be from a hacker. Kurt “CyberGuy" Knutsson tells you what signs to look out for.

Scammers can wreak havoc on your life just by having your phone number. Kurt "CyberGuy" Knutsson addresses how to avoid becoming a victim.

PongBot is an artificial intelligence-powered tennis robot and a smart training partner available to play 24 hours a day, seven days a week.

Kurt "CyberGuy" Knutsson explains how to update your iPhone to add Apple Intelligence, which he says can transform your interactions with your phone.

University scientists have trained a robotic surgical system to do work with the skill of human doctors, possibly transforming the future of surgeries.

As more companies implement artificial intelligence for daily tasks, some industry leaders are working to push back against certain aspects of the technology.

Tech expert Kurt “CyberGuy" Knutsson says the Batagaika crater in Siberia expands 35 million cubic feet yearly due to thawing.

While fewer than 30% of farmers reportedly use emerging technologies like artificial intelligence, experts believe AI could help producers and farmers make food quicker and more efficiently.

Amazon becomes a prime target of scammers during the holiday shopping season trying to steal Social Security numbers, bank information and Amazon credentials.

Spammers have found a way to target Spotify playlists and podcasts to push pirated software, cheat codes for games and spam links and malware sites.

Sharing information online like your vacation plans and relationship status can make you a target for scammers; here's what to avoid posting to keep yourself safe.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson explores six sneaky holiday season gift card tricks, providing tips on how to outsmart scammers trying to rip you off.

Apple Watch's Translate app gives you your own personal interpreter, allowing you to have live two-way conversations in up to 20 different languages.

With kids facing a seemingly increasing amount of threats from creeps on the internet, here's how you can respectfully ask people not to post photos of your children on social media.

Tech expert Kurt “CyberGuy" Knutsson reveals how to regain your Facebook access if you get hacked or locked out.

Kurt “CyberGuy" Knutsson explains how to safeguard retirement accounts from cyber threats with a VPN: encryption, anonymity, secure access.

I’m going to Europe soon, and planning my trip was a breeze. Yes, really! AI did a big chunk of the work for me — and it can help you plan your next getaway, too.

Tech expert Kurt “CyberGuy" Knutsson says North Korean hackers hide malware in macOS apps, bypassing Mac security checks.

Kurt “CyberGuy" Knutsson reveals how iPhone’s new Automatic Mic Mode adjusts settings for optimal call quality automatically.

Jeff Hancock, an expert on AI and misinformation, has been accused of fabricating an expert declaration by citing a study that was allegedly made up by AI.

Wealth Building Scams

Top Quick Tips