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CHIPS Articles: Would you pay $49 for a “secret code” to make huge sums of money?

Would you pay $49 for a “secret code” to make huge sums of money?
By CHIPS Magazine - January 2, 2018
That’s what the Federal Trade Commission says impostors behind the Mobile Money Code scam promised. The FTC alleges that the defendants and their affiliate marketers sought to rip people off, according to a news release.

In a case announced in late December, the FTC says the defendants conned more than $7 million from consumers and provided nothing more than software products that showed people how to create a mobile-friendly website.

The FTC says that the defendants paid a network of affiliate marketers to lure people to its websites. The affiliates used spam emails which included false promises and deceptive marketing claims. According to the FTC, tactics included:

  • Phony testimonials — “real life” rags to riches stories... that were really from paid actors.
  • Outrageous claims — “You can make $1,000 to $5,000 a day just by having this app running in the background.”
  • High-pressure selling — for more money you could have a “ready to go” business worth over $250,000.
  • Subject lines like “In transit: Payment into your account.”
  • “Hassle-free” money-back guarantees the scammers did not honor.

The FTC cautions: If someone promises you fast and easy money, it’s a scam. If you are tempted to believe it, beware! That’s the reaction scammers are counting on. Research the company’s name online with words like “scam” or “complaint.” Keep in mind that wise warning from days past is still true today: If it sounds too good to be true — it probably is.

If you spot a scam or become a scam victim, help others by filing a report with the FTC:

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