Cyber Forensic Specialist
Cyber-Forensics.net
A Ponzi scheme involves an illegal business practice where individuals are tricked into investing their money in a false business in return for hefty profits.
— Timothy Benson
SOFIA, BULGARIA, March 18, 2022 /EINPresswire.com/ — Cybercriminals are defrauding investors in a rising number of Ponzi Schemes. Reported figures indicate a 70% jump in the second quarter this year. The extent of increased frauds documented by agencies worldwide is becoming a growing concern.
Cyber-Forensics.net, a cyber forensics service for online scam victims, analyzed the consumer complaint data only to find that millions of victims referred to increased Ponzi Schemes, crippling them financially.
Fraud recovery specialist Timothy Benson at the firm says, “a typical victim loses more money on investment scams than any other type of income fraud.”
How does Ponzi Schemes work?
Scammers trick people into investing money in fake businesses and promise to pay high financial returns. The participants are made to believe that their money is being invested in a stock market or a business when in reality, the investor’s money is just moved to the account of another investor. The fraudster’s investment looks like a successful venture.
Ponzi schemes are immensely complex. Fake…
