I just read about this scam as the title looked very interesting to me. It is nothing but a gift exchange scam. It works like this - if you present a gift worth $10 to someone (usually you get the contact in social media sites like Facebook) you may get 6 36 gifts in return. Isn't it an amazing deal? But as you rightly guess it's too good to be true and quite illegal too. The police warns us that you may not only lose your $10 in the process but your private information could also be compromised. So it is better to stay away from such offers.
It does sound like a good deal but sketchy too. I mean who would give out more than they are given unless they are up to no good. Those are people who make money scamming people and also steal identities. Unless you really know someone don't give out any information to anyone out there one never nows what they are up to.
It sounds rather like a pyramid scheme hiding as a gift exchange. Give $10 to the person who sends you the mail/contact, then forward it to six more people who will send $10 to you. Schemes like this have been illegal for ages, because they only make money for people right at the top.
This is indirect act of phishing. It is stealing your personal data, your personal contacts, and everything once you have contacted or have communicated with them by paying the required sum of money. The method or scheme is an obvious way of scamming their victims. Once there is a money involved for sure, it would be generally a scam.
I have read something like this and almost fell into it. My husband warned me that it's pyramid scheme and it's very unhealthy. If I am not mistaken, it's not really a scam, but there will be many people who would not receive any gifts at all. There will surely be the bottom of the pyramid, and it seems like it's unfair to these people.
It's good to know that these sort of things are found out and it's something that must be stopped and reported. If you feel it's a phishing scam report it to: *Log In If it's a request to send money and you'll get something like 636 gifts in return for your money...do research first for this sounds so much like a scam. If there is nothing in your research go to BBB.org site: *Log In Catch yourself, talk about it or ask about it, before you do anything, so you'll be safe. You can always word your inquiry "it seems like a scam...". I myself have never come across it. Thanks for letting us know so we won't get scammed. Why report crime? So the bad ones can get caught and all information saved and no victimizing happens and no suffering happens.
In the good old days this used to be rampant. Only the early birds benefited from these kind of selling ideas but at the tail end one is taken for a spin. If everyone follows diligently it can be a success but that is not what happens in those schemes.
@iamawriter In this present time, it takes another form or scheme but the purpose is to scam, especially those who more knowledgeable. Their trick is so subtle and ut couldn't easily be detected until they're already victimized.
@Nakitakona If one is not vigilant one can be taken for a ride with tempting offers. Only those known emails should be opened and there again robbing emails is not new. So many get trapped when they see a familiar email and open it and what is in store everyone knows
