Cash Tracking System: Gifting Scheme?
June 30th, 2014
We were alerted to this possible scam by a TINA.org reader who had received a phone call that sent him to todayscashfreedom.com. The website begins with this incredibly sketchy video, promising nothing except for lots of cash in your future.
“Anyone can do it. You don’t need any special ability or education…”
“If you can return a phone call, log on to a website, and send an email, you can do this!”
Both of those comments are immediate red flags. A way to make money without doing anything at all is impossible. The video eventually lets you in on a little tidbit into what’s really going on when it says,
“This is not a job, and you will need some money to start…”
If you explore the website further there is a long list of worrisome clues that this could be a possible gifting scam. In fact the site actually uses the word “gifting” in its business explanation in this video:
Another red flag – if you sign up, you are automatically charged at least $34.95 monthly. The other way you pay into the company is when you are required to give an amount of money in a “gift statement” to the person that invited you. Anyone signing up has an option to “gift” $500 to more than $10,000.
The website tells you that the “gift” you receive from signing another person up is not taxable. If an organization is promising you a way to avoid the IRS, be skeptical. The IRS only allows cash gifts when nothing is expected in return.
Other terms state:
“There are no profit making benefits of any kind associated with this activity. No benefit or return of any nature is expressed or implied and no promises or guarantees of any such return are permitted to be made by any participant of this activity.”
People sign up for this to make money, which is what the commercial advertises. But the company then backs away from that in its fine print.
A gifting program is not the answer to why the 3% have all the money in the world. So be very wary before following this get rich quick idea. Read more about gifting scams here.