Beware of pyramid schemes

Scams like pyramid schemes happen every now and then to con you out of your money.

Just like an urban legend, everyone knows someone who’s been invited to take part in a multi-level marketing scheme. Before the internet era, fraudsters solicit victims by running multi-level marketing seminars and training courses, or fake recruitment drives. But nowadays with everything going digital, so have fraudsters and their scams. Social media is a popular platform given its highly interactive nature and capability of quick information dissemination.

The pyramid scheme is commonly used by conmen. Many countries and regions, including Hong Kong, have identified pyramid schemes as illegal.



22 April 2020