|
Investment Scam
A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. Mechanics Operators generally set up a website offering an "investment program" which promises very high returns, such as 1% per day (3678% APY when returns are compounded every day), disclosing little or no detail about the underlying management, location, or other aspects of how money is to be invested. The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists … seek to mislead investors by suggesting that well regarded and financially sound institutions participate in these bogus programs." In 2010, the Financial Indust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yield (finance)
In finance, the yield on a security is a measure of the ex-ante return to a holder of the security. It is one component of return on an investment, the other component being the change in the market price of the security. It is a measure applied to fixed income securities, common stocks, preferred stocks, convertible stocks and bonds, annuities and real estate investments. There are various types of yield, and the method of calculation depends on the particular type of yield and the type of security. Because of these differences, yield comparisons between different types of financial products should be treated with caution. Fixed income securities The coupon rate (or nominal rate) on a fixed income security is the interest that the issuer agrees to pay to the security holder each year, expressed as a percentage of the security's principal amount (par value). The current yield is the ratio of the annual interest (coupon) payment and the bond's market price. The yield to ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Negara Malaysia
The Central Bank of Malaysia (BNM; ms, Bank Negara Malaysia) is the Malaysian central bank. Established on 26 January 1959 as the Central Bank of Malaya (''Bank Negara Tanah Melayu''), its main purpose is to issue currency, act as banker and adviser to the government of Malaysia and regulate the country's financial institutions, credit system and monetary policy. Its headquarters is located in Kuala Lumpur, the federal capital of Malaysia. The Bank is the only institution permitted to issue the Malaysian ringgit into circulation. Powers of the Bank The Central Bank is empowered through enactment of legislation by the Parliament of Malaysia. New legislation are created and current legislation is amended to reflect the needs of the time and future. Development Financial Institutions Act 2002 Promotes the development of effective and efficient development financial institutions. Central Bank of Malaysia Act 2009 Provides the establishment, administration and powers of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet Crime Complaint Center
The Internet Crime Complaint Center (IC3) is a division of the Federal Bureau of Investigation (FBI) concerning suspected Internet-facilitated criminal activity. The IC3 gives victims a convenient and easy-to-use reporting mechanism that alerts authorities of suspected criminal or civil violations on the Internet. The IC3 develops leads and notifies law enforcement agencies at the federal, state, local and international level. Information sent to the IC3 is analyzed and disseminated for investigative and intelligence purposes to law enforcement and for public awareness. History The IC3 was founded in 2000 as the Internet Fraud Complaint Center (IFCC), primarily focusing on online fraud, such as intellectual property rights matters, computer intrusions, economic espionage, online extortion, international money laundering, identity theft, and other Internet-facilitated crimes. With the realization that crimes facilitated online have a chance to overlap with other crimes, and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forex Scam
Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud in early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission. The foreign exchange market is at best a zero-sum game, meaning that whatever one trader gains, another loses. However, brokerage commissions and other transaction costs are subtracted from the results of all traders, making foreign exchange a negative-sum game. US Government interventions In August 2008, the CFTC set up a special task force to deal with growing foreign exchange fraud. In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on "a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer complaint ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cherry Shares
Cherry Shares was a high-yield investment program which claimed to generate a profit for its investors by engaging in arbitrage trading. The site offered several investment programs with varying timelines and rates of return. It was run by Brooksell Universal Limited, which was created on August 25, 2008. Programs Cherry Shares offered four different types of investment programs: a short-term, daily, medium-term, and long-term plan, all with high interest rates. As of the weekend of December 4, 2010, CherryShares had stopped making payouts for members, according to many forums, blogs and social networking websites. After a series of payout problems with LibertyReserve, AlertPay and Bank Wires, finally, the CherryShares website had become inaccessible to all as of Friday 3 December 2010. The error message had first said, "502 Bad Gateway," then "504 Gateway Time-out". Some members claimed to have waited until Monday, December 6, before acknowledging that this was the end of "th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Ponzi
Charles Ponzi (, ; born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 15, 1949) was an Italian swindler and con artist who operated in the U.S. and Canada. His aliases included ''Charles Ponci'', ''Carlo'', and ''Charles P. Bianchi''. Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his money-making scheme. He promised clients a 50% profit within 45 days or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the U.S. as a form of arbitrage. In reality, Ponzi was paying earlier investors using the investments of later investors. While this type of fraudulent investment scheme was not invented by Ponzi, it became so identified with him that it now is referred to as a "Ponzi scheme". His scheme ran for over a year before it collapsed, costing his "investors" $20 million. Ponzi may have been inspired by the scheme of William F. Miller ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Autosurfing
In the realm of Internet marketing, autosurfs are traffic exchanges that automatically rotate advertised websites in one's web browser. Therefore, they are capable of bringing a large amount of traffic to the advertised websites. Members earn credits for each site that they view, which can then be spent to advertise members' sites by adding them to the autosurf rotation. Sites may additionally be added by external advertisers who pay the autosurf operators. Concept Autosurfing is an evolved form of traffic exchanging, based on the manual surf traffic exchange concept. In 2001, Autohits.dk was the first ever autosurf traffic exchange to use a PHP script that eliminated the need for viewers to manually click a link or image to advance to the next page in the rotation. Traffic exchanges are based on a simple concept: members of a traffic exchange view each other's sites in order to earn credits. Those credits are applied for views in the rotation. The purpose of autosurf traffic excha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sunshine Empire
Sunshine Empire was a Multi Level Marketing (MLM) company, set up in 2006, based in Singapore. It is now defunct, with assets frozen by the Singapore Court. The company is listed by the Singapore Government's Monetary Authority in its Investor's Alert List, for possibly running investment schemes without authority. After investigation by the Commercial Affairs Department (CAD) of the Singapore Police and a court trial, Sunshine Empire's Directors were charged with and found guilty of fraud, criminal breach of trust and falsifying accounts. The company had gathered up to S$189 million in funds through investment schemes, alleged to have never materialised and to have been in fact, part of a Ponzi scheme. Initial trial revealed that over S$115m were paid out as 'investment returns', while another S$40m were transferred to associates as 'interest free loans' and the remaining believed to have been expended or paid out to directors as fees. History Prior to the existence of Sunshin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollars
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysian Ringgit
The Malaysian ringgit (; plural: ringgit; symbol: RM; currency code: MYR; Malay name: ''Ringgit Malaysia''; formerly the Malaysian dollar) is the currency of Malaysia. It is divided into 100 ''sen'' (formerly ''cents''). The ringgit is issued by the Central Bank of Malaysia. Etymology The word ''ringgit'' is an obsolete term for "jagged" in the Malay language. The word was originally used to refer to the serrated edges. The first European coins to circulate widely in the region were Spanish "pieces of eight" or "cob", their crude appearance resembling stones, hence the word jagged. The availability and circulation of this Spanish currency were due to the Spanish controlling nearby Philippines. An early printed source, the ''Dictionary of the Malayan Language'' from 1812 had already referred to the ringgit as a unit of money. In modern usage, ''ringgit'' is used almost solely for the currency. Due to the common heritage of the three modern currencies, the Singapore dollar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-gold
e-gold was a digital gold currency operated by Gold & Silver Reserve Inc. (G&SR) that allowed users to open an account on their web site denominated in grams of gold, or other precious metals, and that let users make instant transfers of value ("spends") to other e-gold accounts. The e-gold system was launched in 1996 and had grown to five million accounts by 2009, when transfers were suspended due to legal issues. At its peak in 2006, e-gold was processing more than US$2 billion worth of transactions per year, on a monetary base of 71 million worth of gold (about 3.5 metric tons). e-gold Ltd. was incorporated in Nevis, Saint Kitts and Nevis with operations conducted out of Florida, USA. Beginnings e-gold was founded by oncologist Douglas Jackson and attorney Barry Downey in 1996. The pair originally backed the services accounts with gold coins stored in a bank safe deposit box in Melbourne, Florida. By 1998, G&SR (the system operator) was an Affiliate Member of NACHA and a Ful ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High-yield Debt
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
