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27 People Share The Biggest Scams In History That Are Still Up To This Day
Financial scams are among the most common crimes. For example, in 2023, 15% of Americans said at least one member of their household had fallen prey to one, including 8% reporting that it had happened to themselves personally. (The latter figure translates into roughly 21 million U.S. adults.)
So we at Bored Panda decided to expand on the issue and asked our readers on Facebook to share what they believe to be the biggest frauds in the history of mankind. From the diamond industry to double taxation, here are the most popular answers that we've received.
This post may include affiliate links.
#1
Millionaires running their companies into the ground, filing for bankruptcy, then rinse and repeat.
#3
At this point in time subscription services. Everything is that way now and the monthly fees for each item adds up.
#7
That if we work hard we'll be able to live comfortably!! afford to buy a house, car, and holidays, when the reality is we can barely afford food and energy
#12
Insurance of any kind. You use it, the rates go up. You don’t use it, the rates go up
JB 1 month ago (edited)
Insurance isn’t necessarily as bad as some people think, although it absolutely can be. The original idea was that people shouldn’t experience financial hardship based on bad things happening that you know can happen but it’s incredibly difficult to save up enough just in case, and you can’t predict when or what bad things will happen. Just over two years ago, I “spent” roughly $10K trying to save a pet’s life. $1K came out of my bank account, the rest came from the insurance I paid every month for the entire 16+ years of her life. Not sure why but I tallied up how much I had paid for insurance for her, her litter mate and another pet who is now in his teens. Turns out I had paid slightly less over the years than the total paid out to provide healthcare whenever they were sick. Last year, the pipeline from city water mains failed, leaking water into my and my neighbours’ property. Fortunately, my house insurance covered $7K of the necessary repairs. I didn’t build the house but the fact the leak happened within my fence line made it my problem. It should never be a problem again and, yes, the insurance payout covers about seven years’ of insurance payments. That’s what insurance should be about. Never having to question if this essential care, repairs or whatever can be afforded. It’s expensive, not going to deny that. However, whenever my pets were ill, I never had to question if I could afford the best treatment available. I got the peace of mind to say, “whatever it takes that is in their best interest, you do that.” That’s why I have insurance.
P Peitsch 1 month ago
The difference between us, is that you are living in USA and me in Europe. Totally different systems .... I don't have to spend extra money for made-up things, like you described, because I'm living in a society. You guys, it seems, just a bunch of casually businessmen, insisting to have a country, called USA.
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WindySwede 1 month ago (edited)
So what you're saying is that the rates go up, no matter what you do? The[n] use then hard? Or find a "member owned" insurance company?
James016 1 month ago
Our bathroom leaked a couple of years ago. We had to lay £300 excess. Everything else was taken care of by the insurance. Including alternative accommodation. The premium for the year was about £350. Got all new flooring, bathroom tiles, plumbing etc. if we didn’t have it, we would have been screwed
#13
The idea that one group of people is innately better than another group of people
#14
The diamond industry. Super corrupt and monopolized. Diamonds are great, but it's time to step away from them being the coveted stone.
#16
Schooling, judging by the number of people who "did their own research" with their conspiracy theory articles
#17
The banking system, particularly loans and especially mortgages. Diabolical, evil, criminal, sinful
#19
Job agencies. The get about $5 an hour of your pay for you doing the same and more if you went for a job without them. It’s a dam wall restricting jobs and have removed all Human Resources from companies to help the employer to get away with treating people like s**t.
#24
That the meek shall inherit the earth. Nope, it's the most aggressive who shout loudest who get what they want.
Final score:
4points
#25
Double taxation. I get being taxed for roads, services and schools (can’t have roads if there’s no money to build them and can’t have schools and teachers if no one pays for that) but we are taxed on our income, fine. Then with the money we got left over, we get taxed again on anything we buy that isn’t groceries. Buy a used car, that tax has already been paid but they tax each new owner for the same car.
#26
Having to buy water to drink something that's already natural but it was never originally owned by anyone
#27
Anyone thinking they “own” land or homes. Try not paying your taxes and see how that goes. We are renting everything from the government
What do you think ?
Seedy Vine 1 month ago
Taxes. Every dollar is taxed every time it changes hands. Therefore, there should be enough for every social program needed... right?!?
Seedy Vine 1 month ago
Taxes. Every dollar is taxed every time it changes hands. Therefore, there should be enough for every social program needed... right?!?
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