THE trend of quick and easy online earnings has been on the rise in recent times, with new online earning platforms joining the market almost every month, each promising effortless profits and daily rewards. These platforms lure people with promises of easy withdrawals, little effort and guaranteed financial gains in exchange for investment.

At first glance, they seem legitimate; professional websites, official-looking email addresses, and certificates from different authorities that appear real. But the reality is that the addresses listed often do not exist, and the certificates they claim to have are fabricated. Despite these obvious red flags, many continue to be drawn into these Ponzi schemes, lured by the allure of quick money.

The term ‘Ponzi’ scheme comes from Charles Ponzi, who in the 1920s promised high returns through a fake investment system involving international postal vouchers. Instead of making legitimate investments, he paid returns to earlier investors with the money from new ones. This fraudulent model continues to thrive online today.

Most of the so-called ‘earning’ online platforms operate on the same principle. Once a significant number of people have invested or the ‘target’ money has been collected, these sites either disappear outright or close withdrawals, citing technical issues, before ultimately vanishing into thin air. One of the recent examples is that of a platform claiming to sell non-fungible tokens (NFTs), which scammed millions of rupees mostly from the subcontinent.

Users are encouraged to refer others to earn commissions, which is why one sees so many trying to hype up these apps on social media. Young people, in particular, are drawn to these platforms, tempted by stories of quick wealth.

The rise of fraudulent online schemes and gambling platforms, indeed, calls for immediate attention. There is an urgent need for specific regulations to protect individuals from falling victim to these deceptive online schemes. Without proper oversight, these scams will continue to prey on vulnerable people.

Abdul Qadeer Chachar
Karachi

Published in Dawn, May 2nd, 2025