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SCARS Institute’s Encyclopedia of Scams™ Published Continuously for 25 Years

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Fake Business Coaches And Get Rich Quick Schemes

Fake Business Coaches, Dishonest Influencers, and Scammers Steal Tens of Millions

How Scams Work – A SCARS Insight

FTC Fake Business Coach Scams

The Internet Is Full Of Fake Business Coaches, Influencers, And Scammers Offering Get Rich Quick Schemes For Just A Little Money Up Front!

How Fake Business Coaches Present and Advertise Scams that are Guaranteed to Make Lots of Money with Guaranteed Money-Making Schemes!

Fake business coaches are a growing problem, and they are becoming increasingly skilled at presenting and advertising their scams. These scams often promise to teach people how to make lots of money quickly and easily, but they are nothing more than a waste of time and money.

How Fake Business Coaches Present Their Scams

Fake business coaches use a variety of tactics to present their scams. They may create elaborate websites that make them look like successful entrepreneurs. They may also give free webinars or seminars where they share some basic business advice, but they always hold back the best information for their paying customers.

Fake business coaches often use fake testimonials from satisfied customers to promote their scam programs. However, these testimonials are usually fake or misleading. Fake business coaches also use social media extensively to promote their scams, such as YouTube and TikTok. They create fake accounts or post sponsored ads that promise to teach people how to make lots of money quickly and easily.

How Fake Business Coaches Advertise Their Scams

Fake business coaches and influencers use a variety of advertising methods to reach potential victims. They may run ads on search engines and social media platforms such as Facebook or LinkedIn. They may also send spam emails or create fake websites that look like legitimate business websites.

Fake business coaches often use persuasive language in their advertising. They promise to teach people how to make millions of dollars or how to retire early. They also claim that their programs are guaranteed to work.

How To Identify A Fake Business Coach Scam

There are a few things you can look for to identify a fake business coach scam:

  • Promises of guaranteed success: If a business coach promises that you will make a certain amount of money or achieve a certain level of success, it is likely a scam. There is no such thing as guaranteed success in business.
  • Upfront fees: Fake business coaches often charge upfront fees for their programs. Legitimate business coaches typically do not charge upfront fees.
  • Testimonials that seem too good to be true: If a business coach’s website or advertising is full of testimonials from happy customers who claim to have made millions of dollars, be wary. These testimonials are often fake or misleading.
  • Vague promises: If a business coach makes vague promises about what you will learn in their program or what results you will achieve, it is likely a scam. Legitimate business coaches will be specific about what you will learn and what results you can expect.

How To Avoid Them!

How to avoid get-rich-quick schemes promoted on social media by fake business coaches, influences, and scammers of all kinds

Social media is a great way to stay connected with friends and family, but it can also be a breeding ground for scammers. Get-rich-quick schemes are one of the most common types of scams promoted on social media, and they can be very tempting to people who are looking for a quick and easy way to make money.

Here are some tips on how to avoid get-rich-quick schemes promoted on social media:

  • Be wary of any investment opportunity that promises guaranteed returns. There is no such thing as a guaranteed investment, and any investment that promises guaranteed returns is likely a scam.
  • Do your research before investing in anything. This includes researching the company, business coach, influencer, or individual promoting the investment, as well as the investment itself. You should also read reviews from other investors.
  • Beware of any business opportunity that requires you to pay an upfront fee. Anything that requires an up front fee is a business that is in business to sell you ‘hot to” materials and has never made money any other way.
  • Be wary of any money-making ideas or opportunity that is too good to be true. If an opportunity seems too good to be true, it probably is.

Here are some additional tips to help you identify and avoid get-rich-quick scams on social media:

  • Look for red flags. Some common red flags of get-rich-quick scams include:
    • Promises of guaranteed returns
    • Upfront fees
    • High-pressure sales tactics – limited time to take advantage of the offer or discount
    • Testimonials that seem too good to be true
    • Lack of transparency about the investment or the company promoting it
  • Be careful who you follow on social media. Only follow accounts that you trust. If you see someone promoting a get-rich-quick scheme, unfollow them immediately.
  • Report scams to social media platforms. If you see a get-rich-quick scam on social media (post, page, or ad,) report it to the platform. This will help to protect other people from being scammed.

Here are some specific examples of get-rich-quick scams that are commonly promoted on social media:

  • Forex scams. Forex scams are another common type of scam promoted on social media. These scams typically involve fake forex trading platforms or brokers. They may also involve fake forex trading signals or systems.
  • MLM scams. MLM scams, also known as pyramid schemes, are another common type of scam promoted on social media. These scams involve recruiting people into a multi-level marketing company and then pressuring them to sell products or services to their friends and family.

But there are literally tens of thousands o f them.

If you are unsure about whether or not an opportunity is legitimate, it is best to err on the side of caution and avoid it. There are many legitimate ways to make money, but there is no such thing as a get-rich-quick scheme that is guaranteed to work.

What To Do If You Think You Have Been Scammed By A Fake Business Coach

If you have been scammed, you should report the scam to the police and to the Federal Trade Commission (FTC). You can also file a complaint with the Better Business Bureau.

If you think you have been scammed by a fake business coach, there are a few things you can do:

  • Contact your bank or credit card company to do a chargeback. If you paid for the business coach’s program with a credit card, you may be able to file a dispute and get your money back.
  • File a complaint with the Better Business Bureau. The Better Business Bureau is an organization that tracks complaints against businesses. Filing a complaint with the BBB can help to warn other people about the scam.
  • Report the scam to the authorities. If you think you have been the victim of fraud, you should report it to the local police AND to the Federal Trade Commission (FTC) – see reporting.AgainstScams.org for details.

Remember

Fake business coaches, crooked influencers, and scammers are a growing problem, and they are becoming increasingly skilled at presenting and advertising their scams. It is important to be aware of the red flags to look for so that you can avoid being scammed. If you think you have been scammed, there are steps you can take to get your money back and to warn others about the scam.

If you are unsure about whether or not a business coach is legitimate, it is best to err on the side of caution and avoid signing up for their program.

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Our managed peer support groups allow victims to talk to other survivors and recover in the most experienced environment possible, for as long as they need. Recovery takes as long as it takes – we put no limits on our support!

SCARS is the most trusted support & education provider in the world. Our team is certified in trauma-informed care, grief counseling, and so much more!

To apply to join our groups visit support.AgainstScams.org

We also offer separate support groups for family & friends too.

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SCARS offers memberships in our STAR program, which includes many benefits for a very low annual membership fee!

SCARS STAR Membership benefits include:

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  • And more!

To learn more about the SCARS STAR Membership visit membership.AgainstScams.org

To become a SCARS STAR Member right now visit join.AgainstScams.org

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Visit reporting.AgainstScams.org to learn more!

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Important Information for New Scam Victims

If you are looking for local trauma counselors please visit counseling.AgainstScams.org or join SCARS for our counseling/therapy benefit: membership.AgainstScams.org

If you need to speak with someone now, you can dial 988 or find phone numbers for crisis hotlines all around the world here: www.opencounseling.com/suicide-hotlines

A Note About Labeling!

We often use the term ‘scam victim’ in our articles, but this is a convenience to help those searching for information in search engines like Google. It is just a convenience and has no deeper meaning. If you have come through such an experience, YOU are a Survivor! It was not your fault. You are not alone! Axios!

A Question of Trust

At the SCARS Institute, we invite you to do your own research on the topics we speak about and publish, Our team investigates the subject being discussed, especially when it comes to understanding the scam victims-survivors experience. You can do Google searches but in many cases, you will have to wade through scientific papers and studies. However, remember that biases and perspectives matter and influence the outcome. Regardless, we encourage you to explore these topics as thoroughly as you can for your own awareness.

Statement About Victim Blaming

Some of our articles discuss various aspects of victims. This is both about better understanding victims (the science of victimology) and their behaviors and psychology. This helps us to educate victims/survivors about why these crimes happened and to not blame themselves, better develop recovery programs, and to help victims avoid scams in the future. At times this may sound like blaming the victim, but it does not blame scam victims, we are simply explaining the hows and whys of the experience victims have.

These articles, about the Psychology of Scams or Victim Psychology – meaning that all humans have psychological or cognitive characteristics in common that can either be exploited or work against us – help us all to understand the unique challenges victims face before, during, and after scams, fraud, or cybercrimes. These sometimes talk about some of the vulnerabilities the scammers exploit. Victims rarely have control of them or are even aware of them, until something like a scam happens and then they can learn how their mind works and how to overcome these mechanisms.

Articles like these help victims and others understand these processes and how to help prevent them from being exploited again or to help them recover more easily by understanding their post-scam behaviors. Learn more about the Psychology of Scams at www.ScamPsychology.org

Psychology Disclaimer:

All articles about psychology and the human brain on this website are for information & education only

The information provided in this article is intended for educational and self-help purposes only and should not be construed as a substitute for professional therapy or counseling.

While any self-help techniques outlined herein may be beneficial for scam victims seeking to recover from their experience and move towards recovery, it is important to consult with a qualified mental health professional before initiating any course of action. Each individual’s experience and needs are unique, and what works for one person may not be suitable for another.

Additionally, any approach may not be appropriate for individuals with certain pre-existing mental health conditions or trauma histories. It is advisable to seek guidance from a licensed therapist or counselor who can provide personalized support, guidance, and treatment tailored to your specific needs.

If you are experiencing significant distress or emotional difficulties related to a scam or other traumatic event, please consult your doctor or mental health provider for appropriate care and support.

Also read our SCARS Institute Statement about Professional Care for Scam Victims – click here to go to our ScamsNOW.com website.

If you are in crisis, feeling desperate, or in despair please call 988 or your local crisis hotline.