INSCMagazine: Get Social!

Get-rich-quick schemes might not have been created with the advent of the internet, but they sure found a way to spread online and reach more people than they ever could in the years before. Even some legitimate ways of making money have their get-rich-quick offshoots, with people mistakenly thinking they have a way of making a quick buck where other people have to endure for ages to see any profits.

Financial trading is an especially fertile ground for get-quick-rich schemes. Gurvin Singh Dyal (Mr. Gurvz), an affiliate marketer and CEO of Academy2Earn, has become notorious for how the media portrayed his role in one such high-risk forex trading scheme that ended up costing its investors close to 4 million pounds. After months of silence, he has recently shared his side of the story in an Instagram post, providing the world with a great opportunity to learn about these types of deals.

Have Important Documents Reviewed by Professionals

It’s easy to get excited at the prospects of a new business venture, or an opportunity to make money passively online. When people go into these kinds of deals, they do it wanting them to succeed, which can sometimes lead them to forgo their due diligence about whether they are fully aware of what they’re signing.

In the case of Gurvin Singh, he believed he was signing an agreement with a company that’s closely related to a regulated broker company, INFINOX. The people who Gurvin introduced to the scheme might not have read which company is responsible for handling money, thinking that it was Gurvin Singh who made the trades on their behalf. Either way, failure to read the fine print or ask pertinent questions lead to much financial hurt.

People Can Misrepresent Themselves

Even though it sometimes might look like it’s drained of any form of personal touch, personalities matter a lot in the business world. Building rapport with clients and customers has always been a sound business strategy, and the use of the internet has only added new ways to provide a more personal and personalized type of service.

That being said, good interpersonal skills can also be used for more nefarious reasons. If, for example, Gurvin Singh (Mr. Gurvz) knew from the start that one of two people who approached him for the INFINOX gig wasn’t an employee of INFINOX but the type of contractor Gurvin himself will become, he might have thought about it differently.

Honesty and integrity are crucial parts of business deals. The fact that some types of business deals are riskier than others doesn’t absolve everyone involved from acting decently and in the best faith. It even goes for deals as risky as badly-regulated forex trading can be.

 

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