Also in the news...
Switzerland: providing services and travelling for business
Guidance for UK businesses on rules for selling services to Switzerland.
UK lands trade deal with South Korea to boost jobs and exports
UK lands momentous trade deal with South Korea to boost jobs and exports
New laws bring the world of work into the 21st century
Over 15 million people across the UK are expected to benefit as the Employment Rights Act receives Royal Assent.
Brilliant Borders: Kenya's Customs goes digital
A new app will save time and money for big businesses and small traders alike, as a longstanding Kenya-UK partnership further improves cross-border trade.
Yorkshire family brewery taps into new export opportunities with Government guarantee
UKEF support helps Wold Top brewery to expand its exports into new markets.
Warning: Easy Money Comes At A Price
Get-rich-quick' schemes are costing UK victims as much as £70m a year, a figure that is set to rise as the recession wears on.
TOM TAINTON investigates the rise in business scams.
The Office of Fair Trading has announced that conmen advertising get-rich-quick' schemes are costing UK victims as much as £70m a year, a figure that is set to rise as the recession wears on. The dastardly fraudsters are targeting people who are desperate to get their hands on some easy cash, perhaps feeling the effects of the economic downturn more than most. The government has been trying to encourage businesses to use the credit crunch to their advantage, so in a way, they've succeeded. It's smart thinking by those cooking up the scams, but less of a wise move for the naïve souls parting with their hard-earned pounds.
The news comes at part of Scam Awareness month which seeks to stop people being conned by criminals. Traditionally, the methods of advertising scams were amateurish, seedy procedures. Think grimy cards in phone boxes, notices on lampposts and junk mail in your inbox. Today, however, they also appear alongside genuine job opportunities in newspapers and in the online environment. Common schemes include envelope stuffing to put-together kits which are then rejected for poor quality' and subsequently payment is never received. There are many more examples, all just as painstakingly tedious.
A bigger concern is that hardly any of the victims ever bother to report the scam. Possibly out of sheer laziness, more likely due to embarrassment. In fact of the 300,000 people affected per year, only 2% tell the Office of Fair Trading. Consumer Direct suggests that anyone looking for home working opportunities should contact their local job centre. Slightly patronizing, but the good intention is there. A Consumer Direct spokesman pointed out that a "genuine job is highly unlikely to ask you to pay any money or an upfront registration fee".
So the golden rule people - if it sounds too good, then it probably is.