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High Yield Investmenmt Progams (HYIP's) Scam Statistics

I usually stay away from predictions, but in a world wide recession and the reduction of income earning opportunities, the level of fraud and scams may increase during the upcoming year. I have been scammed in the past and I know numerous people who have fallen prey to scammers as well. The means that many scammers use to scam unsuspecting investors is the organization of online HYIP's.

In an effort to try to better understand when HYIP's are likely to scam their investors we decided to take a sample of thirty two online HYIP's that scammed their clients or simply could not pay investors at the maturity of their investments during the last three months of 2008.

Based on analysis of the lifetime of these HYIP's we noted the following.

1. HYIP's are extremely risky and in some cases illegal, so do your due diligence before you sign up for any HYIP. You can check HYIP Monitors, Forums and Blogs for investor complaints;
   
2. If you decide to sign up with an online HYIP, ensure that you get in early and leave quickly, as there is a high probability that you will be scammed within 3 months;
3. Invest what you are willing to lose. Some usually invest the minimum in the beginning and then invest higher amounts the more comfortable they feel with the program; and
   
4. Stay away from HYIP investments greater than a year, as they almost always scam within a year.

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