Opinion | Editorials
Smell a rat if it is a get-rich scheme
The best form of protection from fraud is a large dose of common sense.
- Gulf News
- Published: 00:03 July 24, 2008
Buyer beware is good advice that applies to either the multi-national corporation or the small-time investor. Much of the problems of the credit crunch in America would have been avoided by following this simple rule. Banks bought financial packages without fully examining them. Their laziness came at a high price.
Closer to home, there are almost daily reports of people who have given their hard-earned money to total strangers, peddling get-rich-quick schemes.
The best form of protection from fraud is a large dose of common sense. Get-rich-quick schemes should raise immediate alarm bells. Before investing in anything, the potential buyer has a duty to ask basic questions. Examining the company's track record and getting professional legal advice are just some of the steps that should be taken. Fishermen say that sharks have a habit of devouring those unprepared, but not all sharks are in the sea.
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