We assigned a new writer to review this scam and surprisingly he gave them a positive review in that he doesn’t know the difference between a scam and a genuine investment Program. Obviously, there are many users who do not know that HYIPs like BSFinance Ltd are scams.
Here is what you should watch out for in your quest to identify a scam site.
What is the Site About?
The site claims to be a well-oiled machine of professionals trading and investing on the stock exchange. It claims that it has been online for many months which is quite impossible since scams do not last a long time online.
Basically, what the scammers behind them do is move from scam to scam.
Essentially, the purpose of a scam site such as this is to steal people’s funds and shut down so that it becomes impossible to follow their trail. They then move on to another scam.
According to the site, BS Finance Limited is incorporated in UK and it actually provided a link to prove that. Interestingly, the certificate shows that the company was incorporated on March 25, 2019. This contradicts the claim on the site that it has been operational for 670 days.
When a company lies about its age, operations or put any other false data on its site, you can bet that you’re dealing with a scam.
It makes sense to check the reviews about the site that is already online. If the site has been around for a couple of years as claimed, many people would have known about it.
However, reviews are not always trust worthy as seen from the new writer’s
“I had the urge to invest my cryptocurrencies to make some passive income, while at it, I stumbled on this site bsfinance.biz , and I’m glad I did. This is one site that you can be sure of a reliable investment plans, and you can invest in any of their plans and have a speedy withdrawal when you need to. BSFinance Ltd can compete favorably with other competitors in the industry; in fact, it’s always a giant step ahead of them.”
There are many false reviews out there because fraudsters also pay people and sites for positive reviews. You need to search deeper to know what people are really saying about the site that you’re about making investment with. Here is a somewhat more realistic one:
“Do not fall the good reviews, they are all tailored, these folks are scammers and have deleted my account”
Why This is Another Scam?
You can see from the site that this is a high yield investment program meant to deceive people that know little or nothing about investing.
No genuine investment company would offer ROI that is unreasonably high because businesses operate in the same market. Promises of high returns are the hallmark of scammers whose objective is to steal the deposits sent to them by uninformed investors. This is why you must never invest in random sites.
According to the Securities and Exchange Commission website:
“Most fraudsters spend a lot of time trying to convince investors that extremely high returns are “guaranteed” or “can’t miss.” Don’t believe it.”
Who is the Owner?
Scam sites never reveal the identities of the owners. Even though some claim they are registered companies, they still used faked id for registration.
You can see from the BSfinance site that nowhere was the identity of the managers of the fund revealed even with the claims that they’re stock traders. As seen here:
“BSFinance Limited confidently outperforms its competitors thanks to the task-oriented and highly professional members of our team, making company’s services and products stand out.”
You would expect a professionally managed company to list its executives somewhere in its site, but this is not the case here.
Check Uniqueness of Content
Content from scam sites are rarely unique. The fraudsters are always in a hurry to set up and scam people. They’re also too lazy to work. So scanning the content of a suspected scam site shows this.
We just scanned the About page where they wrote:
“At the current stage of development of the online investment business, it is impossible to receive profit in an efficient and competitive way by only employing persons with corresponding professional skills, such as traders, analysts, and stockbrokers. The process of decision-making, creating orders, buying and selling has gained such speed that humans often fail to stand up to the needs of quality trading.
This is why everyone who has achieved particular success in online trading makes use of different software tools, trading bots, and algorithms that facilitate the process of decision-making, creating orders, buying, and selling. Nowadays, humans are merely intermediaries between programs and digital resources provided by stock exchanges. People are responsible for selecting the tools and making the right use of them to achieve the best results.”
You can see that this is just 1 percent unique. The fraudsters behind it copied whole sections of another site.
Never send money to a site that you randomly came across on the internet. Genuine investment sites are few. They are well-known because they have built online credibility. Depending on random unknown sites is a quick way to lose your funds.
Invest with sites that are regulated and have been in business for long periods. These are manned by known professionals and business people. They do not promise you overnight riches but will not steal your money.
What’s your opinion about BSFinance Limited? Please use the comment section below.