Thread: Banners Broker HYIP ponzi scam

Samuel,

I can answer this with a link:

BannersBroker

This is why they say they need ID - to prevent money laundering.

Jason

Originally Posted by Poyol

Samuel,

I can answer this with a link:

BannersBroker

This is why they say they need ID - to prevent money laundering.

Jason

"BannersBroker.com will not enter into any business arrangement with any person or group suspected of directly or indirectly money laundering, or where funds have been sources or ends of an illegal activity."

Pot: Kettle?

Neither would Zeek Rewards.

Originally Posted by Hypanor

Is BB moving into fraud now? http://whrl.pl/RdmzqP
"Hello all, never posted anything on Whirlpool , so be kind. Thought you would like to know that yesterday morning When I routinely checked my emails found that $2000USD was mysteriously taken off my credit card from BANNERS BROKER. Had to cancel my cards with my bank. No idea at all how they got my credit card details. I am a simple working mum in Sydney raising 2 children, never invested in anything, rarely make internet purchases, yet somehow this mob got hold of my card details. Wondering if anyone else had same issue?"

When will Aussies learn.....You only use credit card online for stuff like telstra...airline tickets...paying the hydro bill....
You never ever buy from outside Aus with a credit card....
You get a visa or mastercard DEBIT card for that and only load when you plan to spend....

Originally Posted by Hypanor

ANY AUSTRALIANS READING THIS THREAD - report this BB scam to SCAMwatch home.
There is an online form that can be submitted. I've just done so 'on behalf of someone else', and included links back to this thread and the one on Whirlpool. Lets do our bit to stop this scam infiltrating Australia any more than it already has. Any disgruntled or nervous Australian affiliates, I'm sure Scamwatch would like to hear from you!

G'day Hypanor and welcome to realscam.....Nice to see another Aussie here

Hate to rain on your parade but the truth is that Scamwatch would like to hear from victims about as much as the ACCC would like to here from me that the servo down the road slugged me $153.9 for unleded and 89.9cents for LPG this afternoon.....They just don't care....

But thanks to one of your other posts we here in Aus can do our bit.....

It is illegal in Australia not only to run a ponzi but it's also illegal to promote a ponzi....And this guy does promote a few well known scams....
I have proof he promoted The GoldenPath....Wealth4All and of course BB....
(click his links on linkedin for proof)....

From your post.....

Attachment 1728

What an idiot to use crazy domains.....LOL...He must have been blinded looking at Pammy in the adds....Twit should have used godaddy.....

The name is real and so is the ABN....(Crazy domains require this).....

I looked up the ABN and it seems that this Jason is a professional scammer......
He is a "Sole trader" and his trading names include.....
Power Business Marketing
AWAKENING DOWN UNDER
Advance Your Wealth

ABN Lookup - Historical details for ABN: 45 767 717 595

And Sydney Marketing Domination which you posted the contact us page for complete with PO box address and his mobile number.....
P.O Box 541
Stanhope Gardens
N.S.W 2768
Ph: (+61) 0449 150 180

He actually lives in Glenwood which is west of Sydney close to Richmond....

Jason Madsen
6 Seville Plac
Glenwood
NSW
2768
(+61) 288244683

Awakeningdownunder.com - Information

So what to do with this info??....

I'd start with the NSW office of the AFP(Aussie Federal Police)....
Of course he is not registered for GST.....He's probably on the doll...So ATO(tax office) and Centerlink would be worth a call....

Pile on

Thanks for the feedback Okosh, and yes Scamwatch is a waste of time. I was back on their site today, and their 'list of companies to avoid dealing with' consists entirely of financial organisations and the like. No ponzi / scams are named anywhere on the site that I can see.

So you pre-empted me, I was considering the AFP next. But the ATO could be a good call. Thanks for the extra digging... we need to do our bit to ensure these people struggle to operate in Oz!

Originally Posted by JordanBright

about the traffic, that is not ture, it is really a good thing that they made.
1. you can now cancel those packs.
2. you don't have to guess what is the time zone that banners is working with and buy it at that time (if you buy it too early it will count as if you got two packs and if you get it late then you got a new one but didn't pay for the old one)

any important stuff about banners broker, I do not have any time to go on talkingbb or go here a lot. did anyone get a talk to somone that can actually make the proccess of closing down banners quicker?

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

Maybe somebody would like to contact Canadian Anti-Fraud Centre (CAFC). The CAFC is jointly managed by the RCMP, OPP and the Competition Bureau Canada and its mandate includes investigating and prosecuting many versions of mass marketing fraud. Their phone number is (888) 495-8501

Originally Posted by AshKen1

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

Yes, I was under the impression there are severe penalties if you don't keep up your TP purchases?

Originally Posted by AshKen1

Am confused by point 1 above. My mate told me that the traffic packs are a monthly commitment forever and that once you buy them, you can't cancel them (That's how you build your business allegedly). Every time I see him, he's buying more and more of the blooming things!

Can you explain a bit more about how the cancelling works please?

yes it was like that before the change to automatic traffic packs, before that you had to buy them yourself every month at the same time for ever, but now (if what they say is true) you can pay traffic pack for one time (not every month) or cancel some of your traffic packs if you don't need them.

that is what THEY wrote about the change in traffic packs once, I don't know if it's true (like any of the stuff they say) but that is what I know.

Originally Posted by noname999

Yes, I was under the impression there are severe penalties if you don't keep up your TP purchases?

Not too severe.
You just won't be allowed to buy a traffic pack for another 6 months.

Jason

Originally Posted by Poyol

Not too severe.
You just won't be allowed to buy a traffic pack for another 6 months.

Jason

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

Originally Posted by noname999

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

There isn't any; I don't think!

Originally Posted by Poyol

There isn't any; I don't think!

The BB thinking is that when you buy traffic you are given 50,000 bonus hits as well. That is what they take and claw back if you cancel a traffic pack.

Effectively they are forcing you to buy the monthly committment. It reduces the profitability of the 'business' and encourages you to refer people into the scheme.

Someone has PM'ed me and asked me to provide my tax/ accounting discussion as if Banners Broker were a real business and why affiliates should be thinking of this. I have provided a couple of excellent examples on talking BS however, they are no consigned to be hidden away from the general public!!

So, here goes, I will try again.

In the UK tax is payable on profits of a business. Accounts are prepared using UK GAAP (Generally Accepting Accounting Principles). This most notably includes something called the accruals basis, which effectively looks at the timing of income and expenses.

The reason this is important is that most affiliates without accountants are looking at the basis on which they pay as being the money they withdraw, less the money they pay in as being the basis for profit. This simply not true.

Imagine a newagent shop buying and selling chocolate bars -

- initially purchases 100 bars at £1 each, therefore a purchase cost of £100. the intention is to sell them for £2 each.
- During the period they sell 60 bars at £2 each
- For ever 1 they second one they sell they buy another bar, therefore 30 bars at £1 each.

On a straightforward cash basis they have

Sales of £120
Purchases of £130

Effectively therefore showing a loss of £10 and you have minus £10 in your bank account.

However - the key issue here is stock. HMRC would expect you to include a valuation of stock. REgardles of being unsold it is an asset of the business and therefore an increase to you profit. Therefore your p&l would look like

Sales £120
less - Opening stock £nil
Purchase (£130)
Plus Closing stock £70 (70 bars, valued at lower of cost or net realisable (sellable) value)

Profit - £60

The £60 is what you pay your tax on.


Clearly there are other overheads and costs involved but this is the basic crux of the issue - stock. Every panel that is purchased should be valued at its cost, whether it has capped or not.

If you substitute the above:

Sales = capped panels
Purchases = Panel purchases


Just because you do not have the cash in your pocket does not make it taxable.

Several accountants and also affiliates that have been in business have posted these opinions and are in agreement with my thoughts. It is just the supposed experts that seem to dismiss this. To be honest Soozi and Jamie never post on this issue, probably because they know this would be an instant turn off!

One food for comfort though, is that if the 'business' collapsed or was exposed as a fraud you can write of those costs and losses in your next tax return.

Originally Posted by Poyol

Samuel,

I can answer this with a link:

BannersBroker

This is why they say they need ID - to prevent money laundering.

Jason

Thanks Jason. So, there's nothing further than this, nothing about the monthly withdrawal level (specifically to the MasterCard) requiring additional/enhanced personal identification documents? It is simply a matter of money laundering as the reason? I thought I heard something about "premium" versus "standard" level of monthly withdrawals and some extra documentation needed on that point...but to be honest there is so much misinformation and confusion coming from both BB and their members I may be confused.

Originally Posted by samuel.r

Thanks Jason. So, there's nothing further than this, nothing about the monthly withdrawal level (specifically to the MasterCard) requiring additional/enhanced personal identification documents? It is simply a matter of money laundering as the reason? I thought I heard something about "premium" versus "standard" level of monthly withdrawals and some extra documentation needed on that point...but to be honest there is so much misinformation and confusion coming from both BB and their members I may be confused.

There are three possible reasons and it is likely that all apply -

1 - the first one is the Money Laundering requirements. given the values of transactions then identification and verification is a must. More and more businesses are expected to identify their customers nowadays. I can see this being genuine.
2 - In order to ensure they don't have duplicate accounts they would need to be able to confirm joint ID is not held; however, this is slightly skewed by the fact that you can have a company own an account which is separate to the individual. BB have never particularly tackled this issue well.
3 - In case of investigation from tax authorities. HMRC (in the UK) have the rights to come into one of these businesses and ask for details of all affiliates within it. That way they can investigate the individuals concerned. This is something that HMRC are tightening up on at the moment and some of you may have seen details of their Direct Sellig Campaign Direct selling businesses - HMRC targets | PAH Accountants - Banners broker would come into this bracket.


There are therefore perfectly legitimate reasons for it to require this information.

Originally Posted by samuel.r

Thanks Jason. So, there's nothing further than this, nothing about the monthly withdrawal level (specifically to the MasterCard) requiring additional/enhanced personal identification documents? It is simply a matter of money laundering as the reason? I thought I heard something about "premium" versus "standard" level of monthly withdrawals and some extra documentation needed on that point...but to be honest there is so much misinformation and confusion coming from both BB and their members I may be confused.

Is it mandatory to have my ID notarized?
You are not required to have your government identification notarized; however, if you wish to withdraw up to four times per month your ID must be notarized. If your ID is not notarized you will only be able to withdraw once per month.

What is the application process?
To order your card, you must provide a proof of ID and Address. You can upload these 2 items in the Personal Info page. After that, you need your ID and Address to get approved - process may take up to 10 days. After your ID and Address is approved, you have to go to the Order Now page, fill in the mandatory fields and submit your application. It’s as easy as that!

WEBWATCH.jpg

This is something I've got from the Back Office.

Originally Posted by samuel.r

Thanks Jason. So, there's nothing further than this, nothing about the monthly withdrawal level (specifically to the MasterCard) requiring additional/enhanced personal identification documents? It is simply a matter of money laundering as the reason? I thought I heard something about "premium" versus "standard" level of monthly withdrawals and some extra documentation needed on that point...but to be honest there is so much misinformation and confusion coming from both BB and their members I may be confused.

You are right however, that it is difficult to clarify the reasons. This is another area of BB that should be simple but is deliberately skewed by them. More smoke an mirrors.

ID please.jpg

Can we has ID please?

Here's a little tit-bit for you guys

"No affiliate may create documents that portray earnings that have not been sanctioned by the company. " Especially if they use the following banned words:

1 Investment
2 Doubling
3 ROI
4 Compounding
5 Interest

Usual threats of termination of account etc apply.....

Ah! So you can bamboozle by words, but put nothing in writing... how cunning is that?

The sanctions for anything where you cross BB are always threats of removing accounts, banning someone from re-applying etc, etc.

Bit like the cancelling of traffic packs mentioned above - I really do wonder if there is a facility to cancel them and whether anyone has used it yet. If so, what happened next? Can anyone find out?

Originally Posted by AshKen1

Here's a little tit-bit for you guys

"No affiliate may create documents that portray earnings that have not been sanctioned by the company. " Especially if they use the following banned words:

1 Investment
2 Doubling
3 ROI
4 Compounding
5 Interest

Usual threats of termination of account etc apply.....

Ah! So you can bamboozle by words, but put nothing in writing... how cunning is that?

The sanctions for anything where you cross BB are always threats of removing accounts, banning someone from re-applying etc, etc.

Bit like the cancelling of traffic packs mentioned above - I really do wonder if there is a facility to cancel them and whether anyone has used it yet. If so, what happened next? Can anyone find out?

The word 'investment' is the one that riles. BB always go on about you are buying a business. Well if that is the case what does anyone that puts money into a business do, they 'invest'.

You don't see the Dragons on Dragons Den saying, 'I am going to put inject some funds in to your company, sorry I can't say investment in case I get regulated by FSA'

I invest in a new pair of boots about every three years.
Better write a letter to the FSA grovelling now!

Originally Posted by noname999

And what is the thinking behind this penalty. Not the real thinking but rather the one BB claim?

There isn't any. It's not a real 'penalty'. It's just a scare tactic. They can't afford anyone not buying them.