Money-Flipping Scams: The Truth Revealed

A picture of 9 individual pictures showing people holding money and a western union logo

If you use the internet on the regular basis (especially social media platforms), you probably have come across these well-organized advertisements. These advertisements claim you can make a lot of money, very fast and easy, by investing just a little bit of your money and time, into their proposed online business. They say the pay-back is great, while you relax at home doing nothing. Your only hard task will be, how you would spend all the money you’ve just earned.

A picture of a white girl flashing money in front of her faceThese Con Artist basically take advantage of an individual’s urge to make money fast, without going through the stress of taking time, and energy, to grow it gradually. This kind of mindset is very common in today’s world, and it is popularly described, as the “Get-Rich-Quick” mentality, or “Get-Rich-Quick-Scheming”. A lot of people, even the well-educated ones, have gotten scammed online over the years, by these sweet-mouth individuals, without having a clue.

The formats and methods of penetration used, are dependent on the type of scams. Yeah, there are different types of scams out there to watch out for, such as advanced fee/ prepayment scam, anti-virus scam, charity scam, emergency scam, employment scam, online extortion, identity theft, immigration scam, lottery / prize scam, money-flipping scam, overpayment scam, relationship scam, social networking scam, tax scam, telemarketing scams, and the list goes on.

A picture of an ad, advertising flipping your money

One of the more trending scams out there, especially on social media platforms like Instagram, Facebook, Twitter and the likes, is the money-flipping scams. The money-flipping scam is very enticing, and most impatient, ignorant individuals fall for it. Let’s take a closer look at these types of scams, and how you can avoid getting burnt.

What Is A Money-Flipping Scam?

A money-flipping scam, basically takes on the form of a fast online investment business. But instead of calling the process “investing”, they call it “flipping”. You would only need to invest a small amount of money, to get a cumbersome ROI (Return on Investment), or flip, all within a short period of time. Usually minutes. You will see advertisements like; turn or flip $50 into $500, or $200 into $2,500, in as little as 30 minutes, or make $200 per hour from home today! They also say things like, “I bought a Bentley 2 months into this business, “You can start earning today”, “Quit your job today, or “Buy the company in 3 months!” Yeah right!!

4 different pictures in one, of 4 different people holding money

You would agree, that these adverts are very enticing and tempting, because normally money isn’t easy to come by in today’s world. So grabbing a cheap opportunity to make loads of money within a short period of time, may seem to be a smart decision. But there is just one small problem. They are all scams. Their primary aim, is to get you to send them your money, via Western Union, Money Gram, or to simply obtain your banking details, and rip you off big time! Don’t fall for it.

Let’s take a look at this scenario, where an innocent social media user logs into their account, only to stumbles upon a well-written advertisement, with a flashy headline that reads, “turn $20 to $500 in 30 minutes”, and a picture depicting luxury, cash, pretty ladies, fast cars and all. Then the user gets super-curious, and visits the link.

They then get to a website where the supposed “Get-Rich-Quick” investment, is explained in detail, followed by the ‘almighty’ call-to-action, where he was told to deposit an initial sum of $100 via their platform and multiply it in minutes. He then punches in his online banking details on their platform and makes the “smart deposit”. I am sure you can guess what happens next? Obviously, his $100 is gone, which seems small right?

But in a way, the scammer already has his prepaid card details that he used to make the “small payment”. Moments later, his account gets wiped, he gets un-friended or blocked on the social network platform, and all communications are lost.

A picture of a flip my money ad

Another real case scenario, could be you logging into your Instagram account, only to see a video post with someone counting about $8,000 in cash. They would be saying how thankful they are, for taking the chance they took, to see if the “money flip”, process was real. You see this video, and instantly feel like this is also possible for you. So you direct message (DM) the account holder for more details.

A screen shot of the money gram logoThey tell you that there’s a minimum deposit of $100, needed to start investing. Them they mention the 2 ways they except payment, and that they’ll stay on the phone with you, the entire time during the process. They say that you could either send a money gram, or send your money via Western union. You then send the money, and the countdown begins. They tell you to wait 30 min, while they stay in the phone.

A screen shot of the western union logoThey then tell you, after 30 min, that the processing has stopped at 90%, and that you’ll have to send them another $100, to finish the process. By this point, your heart should be racing! You start to wonder what happened to your first deposit?  By this point, the scamming as already been completed. Now your left $100 short, and extremely pissed, as the scammer tries to explain to you, that this is absolutely normal, and that this happens all the time. It’s apart of the process. Yea right!!

People suffer much greater losses, and end up going bankrupt, just because of one simple, ignorant online transaction, which is backed up by the common “Get-Rich-Quick-Scheme” mindset.

A picture of an Instagram money flip advertisement

How to Avoid Money Flipping Scams

I can’t advise you to avoid all online investments, generally because there are some legitimate ones out there, that actually pay. But they definitely don’t promise too good to be true returns on investments like “Get-Rich-Quick” investment schemes do. The only thing I can suggest you do, is to carry out thorough investigations, and avoid divulging sensitive personal information online or to anyone.

A cartoon picture of a man holding an hour glass

Here are some tips that can help you avoid getting into money-flipping scams, and confirm the legitimacy of an online investment program or company:

  1. Carry out a Smart Search

Whenever you come across an online investment program, in which your interested in investing in (before you make contact), make sure you take your time to search the internet for vital information. This will help you confirm the businesses legitimacy. Try checking into the following:

  • Make a search of the name of the company. For example, if the name of the company is Quick Capitals, you can search for “Quick Capitals Scam” or, is “Quick Capitals” a scam, or legit. There are niche-based review sites (like this one your on now for example), that investigate and write reviews on different investment programs. 
  • Check out the company’s website, and make sure their contents are up-to-date, and well written.
  • Check for the company’s location, business registration number, and licensing information. If you can’t get this information online, or from their website, take note that something might be fishy about this business.
  • Find out how they make returns. Do they invest in the stock market, or real estate? How about Foreign exchange markets? It is important you know how they make money.
  • Search for the founder’s information. The scammers might use a fake image, or fake information. So what you can do is, search for the image, via your browser, and then the website, where the image was used. This will hopefully come up. You can then check out the information on that site, if it has any tie with the company.
  • Search for testimonies. Ignore the testimonies you see on the company’s website. They are probably false, and paid for. Go to high authority sites instead, with perfect online credibility, to check for testimonies and customer experience reviews.
  1. No Matter the Circumstance, Do Not Share Your Debit Card Details or Pin With Anybody

This information is very sensitive, and should be known by you only. If any online investment program request this information, don’t make any attempts to give it to them. The business is definitely a scam. The reason why, is because no legitimate service would ever ask you to share this information. Keep your information to yourself, and be smart about making online purchases from any site.

  1. Unrealistic Return on Investment

Take a look at the return on your investments. If it is too high and unrealistic, don’t go for it. The company might be an outright scam, or Ponzi scheme, which in the long run, turns out to be a big scam. A Ponzi scheme, promises investors a very large return within a short period of time. What they do, is that they pay investors that are due to get paid, with money gotten from new investors, or current investors, that are a re-investing in a larger sum, into the company. In the long run, everything crashes, and the unlucky ones get burnt.

So take your time carrying out smart in-depth researches. Feed yourself with the relevant information needed to make a well calculated, financial decision, you won’t regret making later.

  1. Don’t Trust Your Online Friends

These are the type of scams, that actually get people the most. So be aware! These scammers hack into your close friends, or a family member’s social media account, ask for money, or might start advertising the money-flipping scam. Imagine your close buddy sending you a message that she just doubled her money in 30 minutes, and would love you to get in on it.

Another thing to be conscious of, is how much personal information your sharing online. Information like your address, family members pictures and addresses, friends, and your place of work, can all lead to a scammer being in your life.

A red and white picture with the word scam

My Conclusion:

Money-flipping scams, are becoming very popular, and are also ever-evolving, with new methods and ways to get to potential victims. It is up to you, to educate yourself, and people around you, on how they can go about it, and how to avoid being scammed.

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Do you have something to say about “flipping money scams” or something to add? Maybe you have something to add about your success or failures doing this?

If you do, please take the time and leave your comment at the bottom. I would love to hear whats on your mind! Thanks for reading my post, and good luck with your success!

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