Update recent scammers!! See how one can scam!! / myLot

India

March 31, 2010 1:43am CST

Hey can you elaborate the recent scamming sites. This will help us to avoid such sites. Few months back I found a site which have advertised in many places. He discussed about how he has making thousands daily. And his tricks is very simple. He says "I found two exchangers (e-currency exchangers). I transfer this A (payment processor) to this B (payment processor) from 1st exchanger. And I lost few cents as a fee. After that I use 2nd payment processor to exchange the amount I receive i.e. B (payment processor) to A (payment processor). But I get more A (payment processor) than my original amount. I repeated this process several times and make thousands of it. The truth is that the two exchangers are own by him and he scammed peoples by his simple tricks. Don't involve is such sites... Be aware of this type of scam site!!! I am giving this as an example, if you have any idea than elaborate it here, it will definitely help us from being scammed by such sites. Have a nice day.

2 responses

Vintervarg

@Vintervarg (697)

• Estonia

1 Apr 10

In general I know it is possible to make money this way, with real currency exchange services, you just paly with the differences in prices - exchange your money in one place, and convert it back in another exchange office which has different prices, but in order to make it profitable you need a lot of money, a few thousand dollars at least, otherwise the exchange process will consume all the profits. But to indulge in such ventures online is way too dangerous. I cannot imagine sending someone a few thousand bucks online...

key2write

@key2write (493)

• India

2 Apr 10

No there is no such exchangers which gives more than the amount you exchange. That's why I have started this discussion. Exchangers do exchanges for profit. They receive fees from us. Don't involved in such sites. Thanks for you response.