The guide shares details about the Iraqi Dinar Scam that is regaining its former popularity amongst investors.
Every individual, even the government employees in the United States, Canada, and the United Kingdom, is focused on the new Iraqi Dinar Investment Scam, believing that they would get millionaires by investing in the scam.
This guide will help you explore more about the scam and prevent getting duped by scammers if you are also amongst those people. For those new investors, it is essential to understand that the unsophisticated financial scheme called Iraqi Dinar Scam is a scam, plain and straightforward. Please continue reading to know why it has been considered a scam.
What is Iraqi Dinar Investment Scam?
Iraqi Dinar Investment Scam is the new financial scheme scamming the victims and making them believe that the Iraqi Dinar is undergoing a revaluation, resulting in higher returns. So, scammers are encouraging them to invest in the currency using the US dollar and expect higher returns in the future.
The scammers are hyping the scheme via different scam websites and attracting investors to the scam. They urge the investors to hold the Iraqi Dinar until the value of the currency increases, but it doesn’t seem to happen.
Is Iraqi Dinar Scam or Legit?
The Iraqi Dinar Investment Scheme is a scam as it is considered a Ponzi scheme targeting many people worldwide. There are many reasons to support the claim, and some of these reasons are mentioned below.
- The financial scheme is promoted and supported by individual fraud agents, not by any financial firm, broker, or entity.
- The financial scam has several unofficial promotions via fake websites, emails, and marketing calls rather than fair and open marketing.
- The promoters are promising hard-to-believe returns from the scheme.
- Many reputed banks and financial institutions are abstaining from providing FOREX trading in Iraqi Dinar. Plus, many states are warning the residents about Iraqi Dinar Scam.
- There is also a book by John Jagerson that explains the scheme and considers it a scam.
So, based on these factors, the financial scheme seems to be a scam, and investors must avoid investing in the scheme for the sake of making a quick and high income.
How is the Scam Committed?
As you know now that Iraqi Dinar Investment is a scam, let us know how the scammers are targeting the investors and urging them to invest in the scheme for higher returns.
The Iraqi Dinar Investment Scheme has been in existence for many years, and recently the scheme is recapturing its popularity again. The Iraqi Dinar Scam is promoted to make a higher profit when the Iraqi Dinar value increases in the future.
Scammers promise to offer millions of dollars as a profit to investors when they buy the Iraqi Dinar in today’s value and exchange it back for US dollars at a later date once the exchange value heightens.
How Iraq’s economy and the exchange rate of Iraqi Dinar flourished in the past few years is the long-term, uncertain bet! Besides, financial schemes promising higher returns and profits are risky as it is challenging to predict and control the future value.
You must use particular caution before investing in Iraqi Dinar Scam until you trade with regulated agents in a regulated market. Plus, ensure learning the tips on How to Protect Yourself from a Scam to avoid unnecessary hassles later.
Do you have anything to share about the financial scam? Then, please share it in the comment section.