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Scams by fake financial companies or by fraudulent financial institutesBY: Muhammed Haris | Category: Business and Finance | Post Date: 2009-08-04
There has been a lot of news coming about scams by financial institutions. In spite of the fact that there are many scams going on by fake financial institutions, each time, some financial institution starts advertising about their high rate of interest on deposits, people stand in queue to invest their money with them. Later when the finance companies run away with the investors money, they go to the police station to complain against such finance companies. It is really surprising hoe people repeatedly get fooled and cheated by these fake financial companies. It is always a thumb rule that if something is too good to be true then most likely it is not true. Once or twice getting cheated may be called as a common thing or as a learning curve. These fake financial companies advertise about giving a higher rate of interest than the regular interest specified by RBI and the rate of interest prevailing in the market. It is really amazing how people get carried away by these fake financial companies and fall pray to their scams. People need to be more aware of what is going on around them and should get all the information about the financial institution before investing your hard earned money in it. There are several other ways to invest as well for example real estate, Gold, bonds, stocks and several other methods. Always look at all the possibilities before finally taking the decision. Investing in a well known bank is however the safest place to park your money. It is also surprising to know see that people have lakhs and crores of money, when fake offers come from fraudulent financial institutes. When offers come from authentic banks, people just say, they do not have any money to invest. But when a scam happens, even the low and middle class people complain about the fact that they have invested lakhs of money with the fake finance companies. This kind of thing can happens only with a high level of negligence or with a blinded desire to earn money. It is always recommended to invest your hard earned money only with well known financial companies only, even if you get a little less interest on your money, its ok, atleast you will not have the fear to loose all of it. Its better to be safe than to be sorry later on. Article Source: http://www.saching.com About Author / Additional Info: Additional Articles: * Girls in Software Industry: Changing face of Indian IT Industry * LIFE AS A HOUSE MAID IN MY OWN HOME * Scuderia Toro Rosso's New Stars and Stripes: Brook Johnston Arrives For Testing In Valencia * My Personal Trekking Experience, India. By Namita Vyavaharkar * SPICES ECONOMY IN INDIA Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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