Be wary of fraudulent money-making apps that deceive users

Online money-making is a quick cash flow, requiring no capital, hence being widely preferred. In line with this mindset, the number of deceitful money-making apps has been increasing.

I. What are online money-making apps?

Online money-making apps are applications generated for users to make an income on their mobile devices. To make money, users must perform tasks set by the apps such as viewing advertisements, reading news, creating users/accounts, commenting to earn points, coins, or cash.

People have paid much attention to these types of apps due to their easy money-making process. They do not require initial capital, users can earn a high income without the need of experience. Many deceiving apps have appeared to exploit this frenzy, aiming to dishonestly take from participants' assets. Therefore, before participating in any such money-making method, you have to understand this risk and take care not to fall into the scenario of losing money unjustly.

II. Identifying signs of deceitful money-making apps

1. These apps are not available on application stores such as Play Store (Android) and App Store (iOS)

These platforms tightly secure their application stores. All downloadable applications must successfully pass through thousands of security filters and fraud checks, including a virus scan. Therefore, downloading apps through both of these platforms might be more reliable.

2. Guided to download the apps from an unfamiliar website or through a URL link.

Scammers will guide you to download their app via an unusual link. It's highly likely that upon accessing the link all of your personal information, including identification number, bank accounts, and phone number, will be stolen by hackers. They may even be pre-set viruses on the app you download. Thus, the hackers will easily monitor your activities to peform malicious acts against you.

3. You are required to deposit an amount of so-called 'initial capital'.

After depositing, your money will increment day after day with the promise of attractive interest rates. Although the app might be free to download, you have to spend some money to participate. Initially, this sum could be quite small, ranging from a few thousand to tens of thousands. And as promised, you will get double or even triple interest. To keep earning such profits, the investment you put into the app will increase. Until one day, the system stops paying you, and you will have fallen into the trap set by scammers.

4. The deposit and withdrawal process is complex, involving many intermediaries.

Due to users' lack of knowledge, malicious entities can easily deceive them using sophisticated tricks. Users will have to deposit and withdraw through numerous intricate steps. Eventually, any hitches in one piece of the chain can cause a loss of your investment. Sometimes, transactions are conducted through some intermediaries. Once they gather a sufficient amount of money, they will disappear, and you will be left with nothing.

5. Introducing impressive numbers and promising quick success.

To increase their credibility with users, scammers often introduce credible stories about getting rich through this method. These stories are designed to spur users' greed and curiosity, making it easy to attract a large number of participants to these deceptive apps.

III. Some deceptive money-making apps available nowadays

1. Online Cattle Herding App

Concealing as an online game with an attractive interface, this cattle herding app easily draws in users. Each player's task is to deposit money to buy cattle and build farms. A larger farm promises valuable rewards. However, many users lost a considerable amount of their capital without reap any profit. This makes the Online Cattle Herding App one of the scorned money-making apps that need to be avoided.

2. Mamo - a fraudulent app

When it comes to fraudulent money-making apps, the name Mamo comes to mind. It allows users to earn money by reading stories and accessing news online on their phones. It seems simple as all you need to do every day is spend 15-30 minutes for entertainingly reading the news while securing some earnings. But recently, Mamo has been hit by a wave of critical user reviews. Users claim they lose VND 1,000 each login without receiving any OTP codes. Tasks and accumulating points for rewards are becoming scarcer and harder to earn.

3. Fraudulent BigCoin app

BigCoin is a digital currency trading platform where users can invest, exchange, buy, sell, and profit from this flow of money. Upon its launch, BigCoin was considered a reputable app in Vietnam. But some time later, many users encountered numerous errors during the money withdrawal process. Many were unable to withdraw their profits or their invested money via their bank cards. Perhaps, because of this issue, BigCoin has been boycotted by Vietnamese users.

The above are ways to help you detect and ward off fraudulent money-making apps in your surroundings. Therefore, you need to remain vigilant, avoid, and not fall into these sophisticated ploys.