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Chain letters

The catch

REMEMBER: IF IT SOUNDS TOO GOOD TO BE TRUE, IT PROBABLY IS!

You receive an unsolicited letter or email with a list of names. After being asked to send £10 to the person at the top of the list you are then invited to put your own name on the list, photocopy the letter, send it out to say 200 people. According to the letter you will be guaranteed a return of £400,000 for your £10 initial investment.

This scam operates in a similar way to pyramid schemes in that a member pays a fee to join the chain. And the only way for that member ever to recover any money is to recruit more members who all pay the same amount. They, in turn, have to recruit even more people – and so it goes on.

Protect yourself

However tempted you are by the promise of huge returns on your money do not get involved.

  • Don't kid yourself – this will not make you rich, the only person likely to profit from this scam will be the originator.
  • Don't be bullied by threats of bad luck befalling you if you don't continue the chain. These scammers are just playing on your superstitions.
  • Throw away any chain letters or emails you get – they're not worth the paper they're written on.