Scammers target students
Published: 4/04/2011 at 12:00 AM
Bangkok Post: Newspaper section: News
The Department of Special Investigation is warning people _ and particularly students and new graduates _ not to fall victim to pyramid schemes disguised as work-from-home job opportunities.
The warning was issued by DSI's Special Crime Director Col Piyawat Kingkate after he received a number of complaints about work-at-home and internet-based job opportunities claiming to offer a minimum income of over 10,000 baht a month for just a few hours of work each day.
According to Col Piyawat, these jobs are actually part of pyramid schemes, as victims are lured into paying 500 baht each for membership.
Their operators promise to return the sign-up fee if each member recruits two further members.
They also offer additional returns to members who buy or sell a certain amount of their products for resale.
Apart from being equivalent to pyramid schemes, these job offers are considered fraudulent under an executive decree on borrowing because the stated rate of financial returns exceeds the interest return ceiling available from financial institutions.
If found guilty, operators of the scam could face up to 10 years in jail, a fine of up to 1 million baht, and an additional daily fine of up to 10,000 baht for each day the scheme continues to run.
"The DSI would like to warn new graduates seeking jobs to take careful consideration before accepting internet-based jobs because they may fall victim to companies running illicit businesses," said the special crime director.
He added that invitations to apply for these suspect jobs were typically sent to users of free webmail services such as Hotmail and Yahoo.
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