Fraud -Kenyans easily forget this old adage that goes ‘once bitten twice shy’ as news about pyramid schemes continue to make headlines around the country.
Bright campus boys who took some IT lessons, sits down and think of a very easy method of taking money from gullible Kenyans from the comfort of their bedrooms. Kenyans go to work every morning to bring them free money through an App they(boys) have developed.
The only message this App passes across is good returns for any investment, and Kenyans would flock it with thousands of shillings without finding out if the App business is registered or licensed to do that business. Does it even pay taxes? There is some honesty in paying taxes. Any business which is trading, and in this case, in financial industry must also show their tax compliance records.
Now that said, the sudden collapse of two online money trading Apps Amazon Web Worker and Cash 24H left a big dent in most homesteads. It is another classic example of how easily gullible many Kenyans are especially when they hear of easy quick money. No Kenyan wants to leave behind anything that sounds like money even when it means selling households to invest.
Unfortunately, the two suspicious Apps were deleted from the Google search engines without an official communication. Investors had deposited huge sums of money which they suddenly couldn’t withdraw. Victims narrated how they had invested to the tune of sh 350,000 expecting as high as 38% returns. By bad luck this turned out to be a scam that broke into people pockets without a gun.
To avoid this money mistake, delink yourself from such high return investments that talk big and wants you to recruit for them more members.
Secondly, avoid joining schemes that are not registered by the State regulatory body because once you are conned it becomes difficult to confront the government for any help.
