How scam artists prey on the idealistic
While only a few individuals are able to enjoy a high-end luxurious lifestyle in Singapore, it doesn’t stop your average Singaporean from aspiring to live such a life, looking for opportunities to increase their income. However, this has become an area for exploitation by scam artists.
With the promise of increasing their income, scam artists claim to teach potential victims obscure methods through courses. When victims sign up for these courses and give their emails, scam artists actually compile these emails into a list which they can then sell to companies interested in promoting their products leading to victims receiving unwanted spam.
They also advertise additional courses after the initial free course. If victims have not realised the nature of the scam after the first free course, they may make the mistake of paying for additional courses. While the methods taught can help users, their benefits are greatly exaggerated leading to idealistic victims being persuaded to attend these courses.
At the end of the courses, attendees are sometimes lured into an MLM scheme. MLM schemes convince victims to buy products and sell them as a distributor. In many cases, these victims believe they are part of a company as they may have received training or a package. In reality, they have bought products and are left to sell it on their own. If they fail, they are left with debt but if they succeed, they may make the mistake of buying more products from MLMs.
One of biggest scams is the “Titans Wealth Alliance”. A training event that claims to provide “the only chance you’ll get to learn how to build wealth fast from Singapore’s Top Wealth Leaders”. In truth, it is organized by several scam artists with many of the so-called coaches having questionable history. The image created can lead to unsuspecting Singaporeans being tricked to attend what seems to be an exclusive event which increases the chances of victims being deceived.
Singapore has tried to crack down on scams in 2019 but the brazenness of how these so-called training courses are advertised make them appear legitimate. While some fault lies on the desire for a quick and easy get-rich scheme, if Singapore aims to focus on skill training for students and adults, it is important that information on identifying dubious courses is relevant now more than ever.