What is the biggest scam you’ve ever seen? - Letsdiskuss
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Anonymous

Posted 24 Jun, 2019 |

What is the biggest scam you’ve ever seen?

Preeti Taneja

Entrepreneur | Posted 28 Jun, 2019

There are millions of small and big scams going on at present, right this moment.


Countries in Africa and Asia, including India, are the hubs of such scams.

For instance, only very recently did the US warned its citizens against India-based call centre scam industry. (Source)

We've all heard of Indian call centres running fraud schemes, preying on Americans, British and Australians because they have higher per capita income.

biggest-scams-letsdiskuss (Courtesy: Reuters)

A common scheme is that these scammers convince the unsuspected people on the other side that they are calling from *insert any good tech brand* and that there's something wrong with their computers. Following, they get control of the victims' computer and install a virus-like program. And then the victims pay these scammers to get rid of this "virus".

Some of these Indian call centres go an extra way. After convincing the victims to pay them, they provide them a payment link. From that link they either get hold of their credit card number or, since still controlling the victim's computer, they add more "0" in the amount. For example, if the person is paying them $100, they would sneak another zero in that figure, making it $1000.

Such scams by Indian call centres are happening in mass. Bangalore, Kolkata, Delhi, Hyderabad, and Mumbai homes such scammers in large numbers. While, in recent times, more of them are getting caught, the industry continues to thrive thanks to advance tech masks that are available now to hide their real identity.

biggest-scams-letsdiskuss (Courtesy: Hindustan Times)

Aside from this, we’ve all heard of the Nigerian Prince Scam.

biggest-scams-letsdiskuss  (Courtesy: Paramount Title)

You get an email from a Nigerian prince who wants to give you his million-dollar wealth but wants a thousand dollar first as some legal and obligatory expense.

You would think that with such height awareness against the Nigerian Prince scam, this scheme would be on the brink. BUT it isn’t. Per a recent report on Wired, Nigerian Email Scammers are more effective than ever. (Read the article here)

Some of these scammers have gained celebrity status locally. They make millions and live a luxury life that the majority of us only dream of.

So, this is another big scam going on here.

biggest-scams-letsdiskuss (Courtesy: The Next Web)

And then, of course, this list of big scams could not be finished without the mention of colleges.

biggest-scams-letsdiskuss (Courtesy: Fox News)

Today, college education is the biggest scam going on in the world. Poor infrastructure, outdated curriculum, no job assurance, and a ridiculous amount of fee. Add to that the condition of colleges in India where you don’t even have professors. The results get out after years. For three-year courses, it takes students 5 years to graduate.

But then it's okay if you can't have this liberating view on colleges. You don’t need to.

Just look at the impending threat of student loan debt in the USA that spans into $1.6 trillion. It's going to be the biggest factor behind the upcoming recession that would shake the world's economy. Millions of employees will be laid off. And unless their certificates are from Ivy leagues, those degrees would be just that, a paper, completely irrelevant.

biggest-scams-letsdiskuss (Courtesy: ibtimes)

These are some big scams going on at the moment.

Hope this answers your question.