A growing number of Solomon Islanders have reportedly become victim to online scams promising quick and easy money through platforms such as Telegram, Video Earned, and other so-called investment schemes circulating via the social media recently.
These platforms, often promoted through flashy advertisements and word-of-mouth referrals to follow links, lure users with promises of daily cash returns or profits for simply watching videos, subscribing to channels, or investing small amounts of money.
But for many locals, the outcome has been disappointing and many now have difficulties withdrawing the money in their account they created through the link sent to another friend – User.
In recent months in the country, “Video Earned” and “Telegram” became particularly popular amongst youths the country who believed they could earn extra income from their phones.
Reports gathered by the Solomon Star indicated that while some users initially received small payments, these were designed to build trust.
Once more money was invested, it is said payments would be stopped, accounts can be blocked, and the platforms can disappear without trace.
Another scheme or so-called business investment that has gained attention in the country is the so-called F-Mobile (Friendship Mobile) program.
Marketed as a business investment, it attracted hundreds of members of Solomon Islands who were told they could earn significant returns through mobile data and digital services.
However, Fmobile users claimed they get benefits out of the platform and do really withdraw cash money through Western Union and Visa Cards.
With that many people are now turning over to F- Mobile, a leading online money investment scheme that is more trusted and transparency who is founded by a Philipnoe Entrepreneur based in Beverly Hills, USA currently.
But just like the other scams, members are now left questioning the legitimacy of the platform as withdrawals became increasingly difficult and payments inconsistent.
Financial experts have repeatedly warned that these online “get-rich-quick” schemes are unsustainable and resemble pyramid or Ponzi-style operations.
Such platforms rely on continuous recruitment of new members to pay older ones, which eventually collapses when no fresh investments are made.
Whilst Telegram and Video Earned is now getting popular. Many users joined the money schemed now have earned money worth $1000 of dollars in their account but difficult to withdraw the money because the agent requires another fee on-top to withdraw the money.
According to “Video Earned” Digital Money Scheme it requires Users to reach 30 referrals before withdrawal of money is possible.
However, today many users in the country have uploaded their screenshot that shows money they earned and referrals they reached up to 30 but couldn’t possible to withdraw the money due to required fees that worth $100 plus USD.
As a result, they got stuck in the process to withdraw the money before proceeds to next stage which is nothing but to catch up in the real trap of scam of high possibility.
“I currently reach up to 30 plus referrals and I earned $1000 plus USD in my account. However, I was told to buy upfront fee that cost around $100 USD to proceed with the withdraw.
“With that I almost give up and notice that this is all but nothing but a scam,” one User in Gizo told Solomon Star this week.
Another User joined the Video Earned link in Honiara said, he also join in the Video Earned Platform link but could not proceed to withdraw his $2000 cash in USD because of the fee they requires how to deposit the fee to the agent.
Many users are now uploaded their screenshots and posted in their group chat and discuss about the issue with disagreement.
Authorities are urging the public to remain cautious and verify the credibility of online businesses before committing money.
The Central Bank of Solomon Islands (CBSI) has also reminded citizens that only licensed financial institutions are authorized to provide investment opportunities in the country.
For many who have lost money, the experience especially in the overseas has been painful but also a lesson in the risks of online investment scams.
Telegram is a popular messaging app with over 950 million active users. The app lets you send messages, hop on video calls, and join channels that broadcast information to large audiences.
Telegram is a great way to stay connected to family and friends, and the app offers built-in security features to help protect users.
But its anonymity features have also attracted scammers and cybercriminals to the platform.
The same goes to Video Earned and other emerging online money scheme platform that continues to circulated in the social media.
By ULUTAH GINA
Solomon Star, Gizo
