The US Better Business Bureau has issued a warning about a proliferation of what appear to be Ponzi schemes (pyramid schemes) on YouTube.
The BBB found 23,000 videos mdash; usually promoting "cash gifting" or "gifting club" programmes mdash; that have received nearly 60 million views. The videos direct people to websites that urge them to sign up to the scheme.
arstechnica article explains - Just as Nigerian 419 scams have adapted to the Internet age, so have Ponzi schemes. Also known as pyramid schemes, these types of scams have flourished onlinemdash;particularly on YouTube, where the Better Business Bureau says there are almost 23,000 (and growing) Ponzi scheme videos. Because of the apparent growth in this type of scam, the BBB last week put out a warning telling consumers to avoid the temptation, and to learn how to recognize the warning signs.
Like Nigerian scams, Ponzi schemes are older than time. Those behind the schemes are usually very vague and construct numerous...
YouTube scams
The BBB found 23,000 videos mdash; usually promoting "cash gifting" or "gifting club" programmes mdash; that have received nearly 60 million views. The videos direct people to websites that urge them to sign up to the scheme.
arstechnica article explains - Just as Nigerian 419 scams have adapted to the Internet age, so have Ponzi schemes. Also known as pyramid schemes, these types of scams have flourished onlinemdash;particularly on YouTube, where the Better Business Bureau says there are almost 23,000 (and growing) Ponzi scheme videos. Because of the apparent growth in this type of scam, the BBB last week put out a warning telling consumers to avoid the temptation, and to learn how to recognize the warning signs.
Like Nigerian scams, Ponzi schemes are older than time. Those behind the schemes are usually very vague and construct numerous...
YouTube scams