What Can We Do To Stop HYIP Programs?

[Rachael]

Well, I may not have the full basis to lay my claims that all HYIP sites are built or created with dubious intentions. I have never come across a HYIP site which has lasted for more than one month but there was a time I came across someone saying that he has been on a HYIP site that lasted for three years but the payout was low. Well, I found it very hard to believe but I had some reason to think he was saying the truth because he said that the site eventually crashed but if a site of such could withstand for three good years, then the site owner deserves an accolades.

Even with the availability of the HYIP monitors, it does little or no good because in each passing day, we are still prone to invest and loose our funds. Notwithstanding that most of these sites already advised individuals to invest only what they can afford to loose but in all, people would still be overpowered by greed to even invest their life savings. From my experience on these sites, I can conclude that HYIP sites is just an elevated form of Ponzi schemes and if I had the power, I will scrap it out from the online ecosystem. What do you think should be done to stop the HYIP programs?

 

[Jasz]

There are a number of things you can do to stop HYIP programs from existing. However most work little or not.

1. Once a HYIP program is discovered, report it on the internet. The program will be shut down by the government after so many complaints.

2. You must be overly cautious when investing in mutual funds with your hard earned money, and avoid being drawn into the trap of making false promises of high returns.

3. There are HYIP monitor websites that offer rating services for companies that have been involved in Ponzi schemes, as well as for those companies that have not been involved in them. Be sure to check these websites regularly before investing your money in any venture.

4. In order to help stop HYIP programs from existing we can educate people about how they work so that more people will be aware of this scam and not fall for it. We should also try and make laws against HYIP programs as well because laws are far more effective than just educating people. I don't know much about writing laws or making proposals for new legislature but I know that it is one of the best things we can do to protect those who are vulnerable to these scams.