Financial cheating is a common phenomenon going on in India and around the globe with the growth of complexity in financial world . It never depends on the person who is a cheater but it mostly depend on the victim as in most cases he is the only one who can avert this financial tragedy . No law of the land how strong it may be can help in this but alertness and verifying many facts before financial investment is the best way .
A financial cheater will never hesitate to cheat any one as it is his profession to cheat others and the way he earns his bread and butter . The cupidity for money , lack of financial education , blind faith on a person , rush make big money quickly are few reasons a man becomes a victim in such tragedy's . The cheaters are great psychologists , good actors and have good knowledge of human behavior . A mans education , work experience , high / middle / low status in society never matter in this as there is a trap for every one unless he remains alert .It is more about human psychology then economics .
A rickshaw puller , labor class man are sitting ducks for thugs , who wishes to make few money . I had seen in the name of micro finance , money doubling schemes , easy finance they can be lured easily . They generally know about all this only after the thugs flee the picture . The poor man cries and goes from door to door for recovery of his hard earned money , which is few thousand in most cases but rarely gets any thing back .
The educated middle class man is a target for few million . As he is educated he believes if any thing is given to him in written with out thinking twice about the legal acceptance of that document . Recently when a X company registered in the company's act had some trouble many people loose lacs of rupees in it . As per Indian company act there is not much scope for them to take any legal action . These firms normally offer 2 to 3 time higher annual interest than a bank deposit acts as a honey trap for investor .
H.N.I. (high net worth individual ) are the creamy layer of the society . They never invest in above mentioned sachems but never immune to any financial frauds . A master of the game is required to trap them .Excess money in their pocket can be blamed for in these persons case , even for the least possible interest they invest money in different forms .
Unless we keep our self alert and go by the financial laws we cant avoid financial tragedy . The person affected by this some time able to get out of it but most loose all . It disturbs a persons social , personal , family , future life . Never ever put all eggs in one basket is the golden rule of investment for centuries . So be wise be financially safe .
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