How Greed is Used to Con Many Kenyans

Greed is the “excessive” want of something; it could be food, social status, power, relationships, and even money. Greed is said to be part of human nature.

Why are People Greedy?

Here are some of the reasons people might be greedy

Discontentment

Being content is being satisfied with what you have. According to the Merriam-Webster dictionary, discontentment is the exact opposite. Anyone can be discontent, irrespective of their lives, the level they are at, or what they have. They are in a constant state of want and this affects how they pursue money and their urge to make money.

Unmet emotional needs

Emotional trauma and unmet needs may give you rise to greed. In an attempt to fill the void left by emotional distress, you could attempt to use money and possessions. In the scenarios where you can’t afford to support this habit or in the event it turns into an addiction, you may develop a persistent desire to get money.

Envy

Envy usually goes hand in hand with greed. Being envious usually entails wanting things that are not yours, a life you have no access to yet you are determined to do anything to make that a reality. 

Insecurity

The habit of comparing oneself to others often leaves you feeling inadequate, especially if the people you are comparing yourself to are doing well in their careers or lives. This feeling may drive the desire to measure up to a certain standard and may also drive an excessive desire to make money.

Read Also: Is it Greedy to Want More Money?

Because of the desire to want more, Kenyans have over the years fallen victim to several cons. Below is a list of ways Kenyans are conned. 

1. Fake Employment Opportunities

Due to the limited number of jobs available out there, many job seekers will do anything to secure a job and this opens a door to fraudsters to defraud employment seekers. 

Here is an example of a scenario, Craig’ was a fresh graduate, who thought he would land his first job, weeks after he graduated but he had been home for close to eight months, being back at home was driving him crazy, and having nothing to do was making him desperate. He does chores, cooks, sleeps and repeats. When his mother forwards a job she came across online, Craig sends his CV and waits anxiously for feedback. 

Two weeks later, he got a reply outlining the job description and the generous pay offer. There was also a well-written, well-calculated request for Ksh1,000 to secure a training spot for the job. Craig thought this was a good opportunity, he thought it was a small sacrifice to pay for the money he would be making, he asked for a loan from a friend and sent the money.  He even calls the number attached at the end of the job advert to confirm if they received the money, and they do. They tell him they will get back to him by Thursday on the progress of his application. He eagerly waits for a response. 

The response never arrives, he tries calling them but their phone is off. He even tries to call them back after long intervals but it's radio silence. He decides to reach out to the company through their Facebook page. It was then that Craig learned that there was a fake job advertisement circulating with the company’s name purporting to be offering job opportunities. It had already been five days since he sent the money, and he could not even reverse the money transaction, Craig was devastated. 

It's important to conduct a background check on a prospective employment opportunity especially if the job offer was shared online. With basic graphic design skills, anyone can create a job advertisement and mislead unsuspecting Kenyans. Some fraudsters go as far as making duplicate websites, in a practice now referred to as web cloning, website cloning is when fraudsters create fake websites that look identical to legitimate job boards. 

Some of the red flags that you should be cautioned about include;

• When the job offer sounds too good to be true.

• Having to pay a fee to be considered for the position.

• If the job requires you to provide personal information like your bank account details.

Read Also: Top Scams That Swindled Many Kenyans in 2023

2. Real Estate Fraud

Anyone can be a victim of real-estate fraud, sellers, buyers, tenants, and even landlords. Real estate cons can take various forms, below is a list of ways you could get conned.

 Fraudulent Property Listings

This involves listing the property on websites and social media channels and luring potential buyers. The fraudsters may use images of properties that are from actual listings but their offers are not genuine.

Title Deed Scams

According to Buyrentkenya, this is by far the con that most people fall victim to, especially if you are a first-time land buyer. After purchasing the land, you discover you and two other people were sold the same land and share the same title deed. To avoid being a victim of title deed scams seek the services of an accredited and qualified lawyer. 

Property Investment Scams

Property investment scams happen when an investor purchases or invests in soon-to-be-built estate projects at steep discounts. Soon after investing the people handling the project disappear with the money. Not too long after, the investors learn the property they invested in was not even for the people they invested with.

How to identify a real estate scammer

They Lack the Necessary Documentation

If the person selling you a house or property doesn’t have the necessary documentation this is a red flag. 

Unattainable Promises

If your real-estate seller makes you a promise that seems unrealistic, chances are, it probably is.  This is a common strategy for mortgage relief. Fraudsters will claim to make changes to your loan in exchange for an upfront payment especially when you are on the verge of a default. 

How to avoid real-estate scams

• Don’t fall for unrealistic prices
• Use official and verified real-estate platforms or search the land registry
• Confirm any unpaid land rates this can be done by searching for the county office where the land is located after paying a search fee.

Read Also: How to Safely Buy Land in Kenya

3. Get Rich Quick Scams

Barely putting any work into something and still getting paid sounds like a great way to make easy money, every so often there seems to be a get-rich-quick scam circulating online that seems very legitimate. Get-rich-quick schemes are sometimes called pyramid or Ponzi schemes. The individuals running these operations take people’s money through deception and misrepresentation of information and identity. 

 How to tell if this is a get-rich-quick scheme?

•  If you have been guaranteed a high return with no chance of risk if you invest in a specific scheme regardless of circumstances.

• If you are being asked to invest in a business that isn't registered or subject to regulation.

• You have to recruit more people to the investment scheme for a higher investment return.

Below  are some of the things you could do to avoid being duped

• If you receive a fishy-looking email, letter, or call promising you some form of benefit, it's best to not respond.
• Avoid sharing personal information online this could be via social media or through a website or email.
• Be cautious when making online payments with your card, double check to see if the person or company is who they say they are before providing details about making payments.

Read Also: Too Good to Be True? Signs It’s a Get Rich Quick Scheme, Scam

Wrapping Up

Many people think they are too smart to be conned but fraudsters are working overtime and are constantly improving and developing new and clever ways to defraud people, so you should always stay vigilant.