Identifying the Genuine Foreign Funding Agencies : FDI Finance

As per the report by FDI India, NGO’s (Non-Profit Organisations) are one of the most demanded social organisations currently. They are the most vulnerable organisation which fall prey to online scams.

FDI Finance

But, What Exactly is Meant by an Online Scam ?

Since the advancement of technology, fraudulent activities have increasingly shown an upscale over the Internet. Fraudulent activities could include providing incorrect information to steal money or any sort of assets from the targeted victim. Currently, online scams are trending and form as one of the biggest threats to organisations, especially NGO’s.

There are several foreign funding agencies available that it becomes increasingly difficult to understand which one is real and which one is faking it. The category of foreign money offers forms as the top one which is used by the fraudsters to lure all the NGO’s, especially who belong to the developing countries giving them all sorts of hopes and desires of receiving funding. It is very much true that several NGO’s belonging to Asia, Africa and Latin America have fallen to such serious scams and lost thousands of dollars due to this.

The Different Types of Scams from Which NGO’s Should Be Cautious :

1.       Grant Funding promises or Award to the NGO’s: This is regarded as the most popular and common scam to which many of the NGO’s have fallen to. There are times when the NGO’s receive random emails/phone calls/texts which mentions that a foundation has shortlisted the NGO to fund or for an award and ask them to respond to the mail. The innocent NGO’s end up replying to the email and start a conversation with these fake foreign funding agencies. Many times, NGO’s have also ended up paying some amount of money to these fraud agencies and realised the truth later.

2.       Participation in the conference: Many times, agencies announce that a huge conference is going to be held at any of the foreign countries and mentions that the NGO has been chosen to be a part of it. In the mail, the fraud agencies also mention that they plan to cover the entire cost of travel, stay and food. In return, these NGO’s are asked to pay a registration fee. It is advised that such emails are a fraud and before shedding out any money to these foreign funding agencies, the NGO’s should do a thorough background check before.

3.       A massive investment: There are several times that these foreign funding agencies send out fake emails about investing a huge sum in the NGO’s and show a keen interest in the company. Although, NGO’s should be smart enough to understand that the funding company will get nothing in return by investing in the NGO and it is a scam. However, still, there are a few NGO’s which end up falling into this trap.

FDI India is an investment facilitation agency India that acts as a reference platform that matches investors with investment opportunities in the country by acting as the prime point of contact and work tenaciously to provide the NGO’s with easy connectivity with investors.