Ways to minimize fraud in HYIP - Lessons learned from 10-years-online and ev business
The best way to minimize the fraud of HYIP PROGRAM:
1. We must be aware what is the exactly company name, address, bank account and so on.
Dont force yourself to invest your money to unclear company/corporate identity..!
2. In line with no.1 above, so to minimize our money gets lost, so it is much better for us to rely on Hyip program that can offer a BANK WIRE or BANK TRANSFER or WESTERN UNION or money order payment method/gateway.
DONT RELY ON HYIP PROGRAM THAT ONLY OFFER LIBERTY RESERVE or PERFECT MONEY, because the LR or PM are only suitable for a transaction that is very trustworthy.
The HYIP is not 100% trustworthy, it is very high risk transaction..!
3. From that bank wire/transfer or money order method, we will be able to know exactly the name of the company, the person in charge, the address, the city, country, and so on.
If there is a problem or fraud in the future, we can easily report this fraud to local country authority, as well as the legal authority in that country.
4. If the Hyip program is established in UNITED KINGDOM, then you can check the company existence in (www)(dot)companieshouse(dot)co(dot)uk.
5. According to UK regulation, all financial companies registered in UK must have a special license from FSA, (www)(dot)fsa(dot)gov(dot)uk
This license is a compulsory for all companies dealing with public money exchange or public money depository/repositories.
6. Check frequently via a google or other search engines on all matters related to the POLICIES or PROCEDURES in the country where the company incorporated.
7. Dont rely yourself on HYIP RATING WEBSITE, but more concentrate and focus on their discussion forum, because some scammers only pay to the HYIP rating/monitor Websites, not to all investors.
It is usually called SELECTIVE PAYMENTS method.