An Employment Scam in the Financial Services Industry
A Warning for Recent College Grads and Others New to the Financial Services Industry

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CONTENTS:

Introduction

How The Scam Works

Fighting Back

ALL YOU NEED TO KNOW ABOUT MLM (IS MLM A SCAM?)

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Fighting Back

Scammer firms can only be stopped when:

  • Recruiting can be halted. When recruits wise up, recruitment will stop. Not likely, but that doesn't mean you shouldn't try.
    • Avoiding The Scam. This checklist recaps the signs that your firm may be participating in the scam.
    • Networking. If you're just curious about a firm, you'll find links here to sites where you may solicit opinions or complain. You may also seek other wronged parties in order to pool resources for prosecution. And of course, you'll want to know what to do in order to aid in ending a scam.
  • Scammers can be successfully prosecuted.
    • Prosecution and Legislation. Prosecution is vital, but current laws may be inadequate. Do your part to not only prosecute using current venues but aid in getting more effective legislation enacted.

Last of all, I've provided a Links and Resources page for educating yourself further.

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