Get rich quick scams
Fraudsters may try to tempt you into "get rich quick" schemes, by offering returns that are far greater than those on the high street.
The offers pretend to be genuine by referring, for example, to
- bank guarantees,
- federal reserve notes,
- bonds, or
- gold bearer shares.
How it works
To convince you to take part, this type of fraud is based on the way banking instruments are used to transfer credit legally. The fraudster adopts common phrases or statements used in the real financial world. However, some phrases used in scams are meaningless.
To encourage you further, the scam may refer to involvement of law firms. This is to try to convince you the investment is credible. The firms may be genuine law firms, unaware their names are being used.
To take part, you will be invited to give money "up front" in return for a huge financial gain. You will not receive the money promised. If you are asked to give details about your identity, your identity may be stolen to obtain credit and loans fraudulently.
Learn more about the varied stories behind the scams.
What you should do
Ignore any letters, emails or telephone calls offering you the chance to "get rich quick". Your money and your identity are at risk if you reply.
If you have become involved, contact your local police.
If you believe a person or firm regulated by us is involved, contact us immediately by emailing or writing to our Fraud and Confidential Intelligence Bureau.
Stories behind the scam
The stories behind the scams are varied, and will give some reason why money is available to help you "get rich quick". Stories have been based on
- banks from remote areas of the world offering bank guarantees for hundreds of millions of dollars,
- U.S. Federal Reserve Notes recovered from a World War II plane crash site in the Philippines,
- historical U.S. Railway Bonds, and
- pre-World War II Hitler's Gold Bearer Shares recovered from a lake in Austria.
If you are contacted, ignore it. Do not reply under any circumstances.