Scams and Frauds
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Financial Crime Exposed!
Scams & Frauds have been around forever but seem to be everywhere these days - especially all over the Interne but there is also scams by mail, and many even in person. The problem is they are also becoming increasingly convincing. To ensure you don't fall victim to a scam, regardless of how convincing they are, you need to know all about them and how to foil them. You will find Scams and Frauds an enlightening guide.
Scams & Frauds are everywhere, so to ensure you don't fall victim to the latest scam, regardless of how convincing, you need to do your own due diligence before parting with one cent......... you have to be careful out there!
Have you ever encountered.....
- Bank debenture trading programs and other so-called High Yield Investment Programs - How they work, their history and why you will lose your money!
- Sham Investment & Savings Clubs
- Cold Callers and shonky brokers
- Pyramid Schemes
- MLM Shams
- Ponzi Schemes
- Gold Bullion and Mine scams
- Banks that actually steal your money
- Nigerian Letters
- Lottery and "give away" scams
- Offshore Investment scams
- Fake Credit Cards
- Affinity fraud
- Self Liquidating Loans
- Pure Trusts
We can show you what to do if you have, and what to do if they already have your money........
Are You Being Ripped Off?
It never ceases to amaze me the number of people that are ripped off with sham investments and get caught up with unworkable offshore strategies. Some of you have probably heard of all the usual scams such as Nigerian Letter Scams, Ponzi schemes, and Pyramid selling schemes etc, there are a "million" of them.
These schemes operate predominantly outside of Australia, which makes the job of getting your money back or stopping the operators almost impossible. In addition, there is an "industry" in offshore trusts and companieswhereby investors and business people are offered offshore "entities" at what are perceived to be bargain prices. Some of the prices I have heard of, are as much as 10 times the normal real price. Many offer offshore trusts and the promoters tell people that they will never have to pay tax again.
However, they leave one vital piece of information out of the sales pitch, and that is they have to technically break the law to achieve these tax breaks. I have spoken at length to fellow accountants, solicitors and incorporation agents over the years and we have all come to the same conclusion, they often don't work and they are not legal because of the way they are setup.
I have been involved with Australian taxation for 20 years, it has been a big part of my professional life as an accountant and I cringe when I hear what some people have been told. They are told that if you set up an offshore "entity" , you don't have to pay tax anymore because you just put all your local business dealings through the offshore company and bank your money offshore - Result? No tax!...Wrong, this is illegal and you could end up in jail if the numbers are big enough. Advice like this is always passed on to the unsuspecting person by a "sales person", never an accountant or solicitor. Before committing yourself to any of these "schemes", check with your accountant or solicitor first.
Having said that, an offshore company can be very useful for investing in offshore investments that would normally never be available to a "normal Australian". They can also be very effective for deferring or minimising tax if set up and used correctly and legally. Most big public companies have offshore corporations that they use for tax planning and minimisation.
The average person can also use them as asset protection vehicles which can safeguard your assets against litigation in many instances. Privacy and confidentiality is also a major reason for people setting up offshore companies. These "tax haven" countries protect your financial privacy with legislation that other countries can't penetrate no matter what they do.
Unfortunately, Australia has no such privacy laws, John Howard decided to not introduce privacy laws. Offshore asset protection is very popular with Americans due to the amount of litigation in small business over there and it would appear that we're going the same way in this country.
As the world "globalises", the offshore corporation and bank account will become very common in Australia as it is in the US, UK and Europe. Offshore banking can also be used to great advantage with higher interest rates being offered by most major banks when compared to Australian banks. Offshore banking also offers you the advantage of currency diversification which can be a blessing sometimes.
Another misconception is that banking offshore, investing offshore or owning an offshore company is illegal, it's not. You can invest your money anywhere in the world in anything you like, there are no restrictions.
We all know that a well known media magnate was able to reduce his tax bill by $ 40,000,000 using offshore corporations, and he did it legally. Now, I'm not suggesting for a minute this is what you should be doing because the structure he used was very complex and costly to establish, but there are things you can do with offshore corporations, offshore investing and banking, to great advantage and legally as well.
For anybody serious about making money in the future, they should have a good look at offshore investing, offshore corporations and offshore banking. Most people are very surprised what they can legally do, and the doors that can open to them. Even the average person, can afford these setups despite what some people would have you believe. The bottom line in all this is money. Will these setups allow you to make more money than you otherwise would? Yes, is the simple answer, a lot more! for more information on this subject, please see The Offshore Investment Solution.
If you want to know about the most convincing and popular scams around and what to do about them, then Scams and Frauds is the book for you.
Thank you for the great books and excellent service when ordering your books - KS, Australia (email)
Keep up the good work! - GS, Melbourne