SEC issues investor alert on auto-surfing scams
In response to the 12DailyPro scam, the SEC has issued an investor alert entitled "Auto-Surfing”: What You Need to Know. Here’s an excerpt.
In the world of marketing, people often get compensated — with cash or free products and services— for doing fairly easy things, like sampling new ice-cream flavors, filling out surveys, or allowing a firm to monitor the television shows you watch or the websites you visit. While some “money for nothing” opportunities may be perfectly legitimate, others can turn out to be frauds.
“Auto-surfing” is a form of online advertising that purportedly generates advertising revenue for companies that want to increase traffic to their websites. The premise behind auto-surfing is that companies that advertise on the Internet are willing to pay to increase traffic to their web sites. These companies hire an auto-surf firm or “host,” which in turn pays individual web surfers to view certain websites on an automatically rotating basis. The more sites the individual visits, the more money he or she stands to earn.
And they list several rules of thumb that are essential for people to remember: If it sounds too good to be true, it probably is; Check out the company before you invest; Steer Clear of Testimonials; "Guaranteed returns" aren't.
Read the full alert: Auto-Surfing: What You Need to Know.
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