How to Reduce Tech-Related Stress for Customers and Employees

How to Reduce Tech-Related Stress for Customers and Employees

Your ability to become a successful company of the future depends on developing a cultural mindset that is focused on creating value for the people inside and outside the organization. The myth that technology drives digital transformation has been an ongoing fairy tale because while technology is an important factor, there is another element to the equation that creates a strong dependency on the first — the people.

Technology in most ways has a positive effect on business operations, especially in the automation of admin processes that come with communication with customers. While artificial intelligence is getting to know your customers by analyzing their wants and needs, it also means collecting huge amounts of customer insights. Some other digital tools such as chatbots are being used to interact with customers instead of a customer service agent and in some exceptional cases, this works just fine.

The belief that these digital tools can improve customer engagement like a miracle is just an illusion however, despite offering an effective and efficient way to speak to large audiences. The reality is that these technologies are greatly designed to replicate some sort of friendliness but are simply not able to offer the much-needed level of human connection customers need.

Covid-19 has been a wake-up call for businesses and has aggressively fast forwarded digital adoptions in working practices that most companies were not ready to take on. They were forced to send employees home who had to deal with the implementation and usage of new digital tools, something that should have progressively happened years ago.

According to research carried out by Mckinsey, it would have taken businesses more than a year to implement the level of remote working that was enforced as a result of the crisis. Despite the advantages of the nature of these digital technologies, the sudden change led to huge gaps of acceptance among the workforce and this is because employees have different needs, challenges and technical proficiency.

Employees and customers are often slow to adapt to new ways of doing things so now it’s time to ask yourself: What can I do to reduce the tech stress of my customers and employees and make their lives easier? I suggest two main things to consider:

1. Focus on the people.

Digitalization has many different positive aspects, but the more digital your business becomes the less human touch it can provide. Customers today expect more human interactions and less automated interactions. The role of new tech should make the life of your employees easier and ultimately highly complement their tasks so that they can focus on the emotional side of customer relationships.

The rush for easily monetizable consumer automated interactions makes it clear for customers that a brand is not authentically engaging with them. A Harvard Business Review study shows that companies are becoming increasingly impersonal by automating as many customer touchpoints as possible. In a highly digitalised world the human factor in customer experience gives your business a distinct competitive edge. The latest technology gets prioritised too often over authentic customer engagement.

First and foremost you should create an authentic and trusted customer relationship and then with the consent of your customers, use the technology available (predictive analytics and machine learning) to personalise the interactions with them. Not the other way around.

2. Reassess your digital initiatives.

As you’ve been experimenting with a huge number of virtual operations and interactions since before the pandemic started, you now have the opportunity to assess which technologies are extremely needed and which are not. The world of business is changing, some things will go back to previous ways, while others will remain changed forever.

You might think that using many different business tools to automate and improve processes will skyrocket productivity. However, switching between too many apps has some side effects such as lower productivity, higher costs and lack of collaboration in teams, to name a few. Developing a digital state of mind requires you to engage, educate and provide continuous support to your employees.

Low employee stress levels and making sure their experience remains positive throughout are as important as deciding which new technology to adopt. Digital transformation should have your people at the core because your people will be those who will make a successful transformation happen.

As I’m writing my book on customer-centricity, I find it imperative that companies find the right balance between the use of technology and human interactions. The challenge of the future is not whether artificial intelligence will replace people’s jobs but rather how to create a business culture in which technology and employees are able to walk hand-in-hand to provide human-driven customer experiences.

Ilenia Vidili

 

By: Ilenia Vidili / Entrepreneur Leadership Network VIP

 

Source: How to Reduce Tech-Related Stress for Customers and Employees

.

.

Digital working causing tech-stress in home workers – Elite Business
elitebusinessmagazine.co.uk – February 4
The number of home-based workers is at an all-time high, as workplaces remain closed in-line with the government’s COVID restrictions, but the growing dependence on working online and fully-digital has triggered an alarming rise in employee stress…
N/A
10 Things I’ve Learned in 10 Years as a Published Author
angelacrocker.com – February 1
[…] on the page is exciting but the process also comes with tears of frustration, desk thumping, and tech stress […]
4
Six strategies for managing stress when technology behaves badly
[…]   Especially if you depend on your tech for work, upgrading every few years will reduce your tech stress levels […]
0
Hybrid Classroom All-In-One Video Platform 30-Day Free Trial
discovervideo.com – January 28
[…] Tens of thousands schools across the US trust DEVOS to engage students and ease teacher tech stress […]
N/A
Working from Home – Tips on Getting Your Daily Steps & Dealing with ‘Tech Stress’ | The Protein Works
[…] Constantly being connected to work and technology with no shut off time can result in tech stress and eventually burn out […] So here are our top tips on getting those daily steps in and avoiding tech stress: Utilise the extra time Working from home means that your daily commute time is how long it take […] make the very thin line between work and down-time even thinner, which ultimately will result in tech stress […]
N/A
Stressed out? Blame bad technology – Reuters | Maiyro
http://www.maiyro.com – January 14
[…] Tech stress had a lasting effect, Oullier added […]
0
Stressed out? Blame bad technology
http://www.emotiv.com – January 13
[…] Tech stress had a lasting effect, Oullier added […]
2
Depending on Technology Too Much Can Lead to Stress, Finds New Study
http://www.news18.com – January 13
[…] Tech stress had a lasting effect, Oullier added […]
1
PASIM | Digital Marketing Success Simplified
pasim.co – January 13
[…] needs of THE solo-business owner that they lack time, have no budget and could do without the tech stress […]
N/A
Stressed out? Blame bad technology | Inquirer News
newsinfo.inquirer.net – January 13
[…] ” Tech stress had a lasting effect, he said […]
N/A
Tech stress has lasting effects: Young people likely to be more impacted
economictimes.indiatimes.com – January 12
[…] Tech stress had a lasting effect, Oullier added […]
3
Technological frustrations may be the bane of a peaceful modern life, suggests research
[…] bit surprised by that because you rarely see those levels going so high,” he stated and added that tech stress had a lasting effect […]
1
Is bad technology the new reason for our stress levels?
http://www.iol.co.za – January 12
[…] Tech stress had a lasting effect, Oullier added […]
N/A
Stressed out? Blame bad technology | Reuters
http://www.reuters.com – January 12
[…] Tech stress had a lasting effect, Oullier added […]
N/A
Stressed out? Blame bad technology | Reuters
http://www.reuters.com – January 12
[…] Tech stress had a lasting effect, Oullier added […]
43
Stressed out? Blame bad technology | MarketScreener
[…] Tech stress had a lasting effect, Oullier added […]
N/A
Stressed out? Blame bad technology | Technology
[…] Tech stress had a lasting effect, Oullier added […]
0
Jobs Report News: Jobs in 2030: Health Care Booms, Employers Want More – The Wall Street Journal | Employment News | RobinsPost News Network
[…]   By: Bloomberg Markets and Finance MARKETS FINANCE VIDEO: GOLDMAN VET MARTY CHAVEZ CALLS FOR BIG TECH STRESS TESTS Related Videos On: Goldman Vet Marty Chavez Calls for Big Tech Stress Tests Jan […]
N/A
Recommended Books
ehtrust.org – December 24, 2020
[…] Purchase SCREENS AND MENTAL HEALTH  Tech Stress: How Technology is Hijacking our Lives, Strategies for Coping, and Pragmatic Ergonomics By Eri […]
5
Our Favorite Books We Read in 2020
http://www.workdesign.com – December 23, 2020
[…]   Designing Your Life: How to Build a Well-Lived, Joyful Life By Bill Burnett and Dave Evans Tech Stress: How Technology is Hijacking Our Lives, Strategies for Coping, and Pragmatic Ergonomics By Eri […]
1
Create, Market & Sell with the #1 Online Course Platform
http://www.thinkific.com – December 17, 2020
[…] 100’s of features, so you can build your perfect course business or membership site without any tech stress […]
4.3K
Hybrid Workplace Guide
discovervideo.com – December 8, 2020
Ease Hybrid Workplace Tech Stress The right video platform can could lower the tech stress level of all your teams, HR staff, remote offices, AND your IT department […]
0
Third-Party Podcast Analytics: Do They Help Your Growth?
http://www.thepodcasthost.com – December 8, 2020
[…] Alitu is the all-in-one podcast maker that removes tech stress and streamlines your editing process […]
4
YouTube Lead Generation: How to Get Traffic, Leads, Sales | Marjy G
msguery.net – December 4, 2020
[…] at record stores + helping service providers simplify operations and launch online projects without tech stress […]
2
Jeans are Cancelled, and Notes from the Weekend
camillestyles.com – November 29, 2020
[…] ) Loosen your waistband – and other surprising solutions to tech stress […]
N/A
Black Friday to Cyber Monday 2020 Sale
home.kartra.com – November 27, 2020
Simplify Your Business With Kartra Skip the tech stress with Kartra — you can take your customers from opt-in forms to checkout, all on one platform […]
3
Laura Willis
speakerbuzz.co.uk – November 25, 2020
Do you or your team suffer from ‘tech stress’? Do you have fatigue from too many Zoom sessions, struggle to switch off from work, or find i […] with today’s ‘new normal’ way of working If you or your organisation could benefit from minimising tech stress and managing mental wellbeing in a digital age, Laura can help
N/A
Loosen Your Waistband—and Other Surprising Solutions to Physical and Emotional Tech Stress
goop.com – November 19, 2020
HomeHealthLoosen Your Waistband—and Other Surprising Solutions to Physical and Emotional Tech Stress SUPPORTED BY SCIENCE Toggle description Loosen Your Waistband—and Other Surprising Solutions t […] Toggle description Loosen Your Waistband—and Other Surprising Solutions to Physical and Emotional Tech Stress As a professor at San Francisco State University, Erik Peper, PhD, carries out research on how ou […] Peper recently coauthored the book Tech Stress: How Technology Is Hijacking Our Lives, Strategies for Coping, and Pragmatic Ergonomics […]

Bankruptcy Cases In Singapore At 5-Year Low Amid Covid-19 Relief Measures

SINGAPORE – Even as the Covid-19 pandemic ravages the economy, the number of people who were made bankrupt last year sank to the lowest in five years.

Bankruptcy orders tumbled more than 40 per cent to 965 from 1,645 in 2019. Figures from the Law Ministry’s Insolvency Office website showed more than 1,600 bankruptcy orders were made annually between 2016 and 2018.

Experts said the drop in numbers could be due to the Covid-19 (Temporary Measures) Act and government support schemes which provided temporary relief for financially distressed individuals.

Lawyer Chia Boon Teck of Chia Wong Chambers said: “Pre-Covid-19, the law allows a debtor 21 days to pay up on a statutory demand. However, the Covid-19 (Temporary Measures) Act 2020 extends the 21 days to six months. This in effect puts a five-month moratorium on outstanding debts.”

The Covid-19 law also raised the minimal debt from $15,000 to $60,000 so debtors owing less than $60,000 are not exposed to threats of bankruptcy, he added.

Last year, bankruptcy applications fell to 2,833 from 3,473 in 2019, reversing an upward trend since 2014.”The twin measures probably account for the drastic drop in bankruptcy applications,” said Mr Chia.

Maybank Kim Eng senior economist Chua Hak Bin said bankruptcies could have been far worse if not for the fiscal support and relief measures that also saw “the freezing of creditors’ rights to commence legal action for default until late 2020”.

Figures from the Insolvency Office website also showed corporate insolvency numbers fell, with 206 applications filed for winding up between January and November last year, down from 368 in the same period in 2019.

Said Dr Chua: “We expect the number of bankruptcies to increase in 2021 as the fiscal support and temporary relief measures are wound down.”

He added that such measures can help only firms suffering from a temporary liquidity crunch, “but cannot save firms which are no longer viable in this new normal”.

Among the high-profile bankruptcy proceedings last year was a bankruptcy bid filed against local hardware chain Home-Fix’s founder Low Cheong Kee and his younger brother by paint manufacturer Nippon Paint (Singapore) over a debt of $500,000.

Political party Peoples Voice’s leader Lim Tean also faced bankruptcy claims totalling about $1.45 million.

Mr Nelson Loh, who was behind an audacious bid to buy English Premier League football club Newcastle United last year, was adjudged a bankrupt by the Singapore High Court in December. He had failed to pay an outstanding debt of over $14 million to DBS Bank.

His cousin Terence Loh is also facing bankruptcy proceedings filed by Maybank over a $3 million debt.

George (not his real name), a 50-year-old bankrupt, said: “The government relief measures only helped to delay the proceedings. Financially distressed individuals would still be struggling to raise enough money to pay their debts amid the pandemic.”

He said he filed for bankruptcy as he was unable to pay his debts of over $100,000 to various banks.

“Some people may think I had chosen the easy way out, but it’s not. It was a difficult decision to make. Many companies will not hire me because I am a bankrupt. And I also can’t manage a business or act as director of a company.”

As at Dec 31, there were 10,269 undischarged bankrupts.

A bankrupt may try to have his bankruptcy status annulled after paying off all outstanding debts. He can also apply to the High Court to grant him a discharge or the court-assigned administrator may discharge him after at least three years of good conduct, provided his debts do not exceed $500,000 and his creditors do not object.

By: Joyce Lim Senior Correspondent

More on this topic

Asia defies dire predictions of huge spike in bankruptcies, thanks to government help

How to seek contractual relief for yourself or business under new Covid-19 law

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

20 Questions to Tell If You’re Ready to Retire

Learn More SmartAsset Ad

The Unusual Link Between Eggs And Diabetes (Watch) health-today-news.com Ad

Here’s What New Dental Implants Should Cost in 2021 Dental Implants | Sponsored Listings Ad [Pics]

The Truth About His Sickness Is Pretty Clear Now

Bon Voyaged Ad [Pics] Jimmy Carter Is Almost 100 & Where He Lives Now Will Make You Especially Sad Doctor Report Ad

4 Worst Blood Pressure Meds Home – Blood Pressure Solution : Blood Pressure Solution Ad

Pour Vinegar On Bread And Leave It In The Garbage Can The Delite Ad

The New 2021 Nissan Rogue Is Turning Heads

CNA

Bankruptcies filed in Singapore have skyrocketed to more than 460 in March. Latest official figures show that is the highest in more than 15 years. Lawyers CNA spoke to said they have also seen more enquiries about loan obligations. Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service on Telegram: https://cna.asia/telegram Follow us: CNA: https://cna.asia CNA Lifestyle: http://www.cnalifestyle.com Facebook: https://www.facebook.com/channelnewsasia Instagram: https://www.instagram.com/channelnews… Twitter: https://www.twitter.com/channelnewsasia

What The Vaccine Won’t Solve

While the start of vaccine rollouts offer hope that the worst of the pandemic may be over, its devastating financial impact for many will be felt for a long time to come. In research spanning 18 countries from the Deloitte Consumer Industry Center, we find evidence of continued household financial distress.[i] One in five consumers are spending more than they take in as income. During the course of the pandemic, they are twice as likely to have had their financial situation change for the worse and to indicate that they have cut back on staples like groceries and household goods. 

That can lead to tough choices like dipping into savings, increasing the use of debt or prioritizing which upcoming payments will be missed. Even larger numbers of consumers are worried about this becoming their fate.  Forty percent of all consumers in our study are worried about the amount of their savings and credit card balances.

Since the 2008 Great Recession the divide between more affluent consumers and lower income consumers has grown.[i] Just as the pandemic accelerated the adoption of contactless commerce, video conferencing and home gyms, it also accelerated this bifurcation. The pandemic has created one world among high income people who can work at home and make discretionary purchases, and a second world of people who are more likely to be unemployed and/or more limited in their buying ability. While the pandemic has inconvenienced more affluent consumers, others have experienced a severe economic crisis that is likely to extend for some time.

Economists talk about the “K-shaped” recovery—to describe how different segments have experienced, and will continue to experience, the effects of the pandemic.[ii]Our research shows that the K-shaped recession and recovery are features of many economies and a direct outcome of the pandemic’s acceleration of a long-term change in the labor force.

Globally, the chances of being unemployed were about six times higher among low income workers compared to high earners though that varies by country.  The ratio is higher in the United States (nine times as likely). While in Germany, low-income workers were only four times as likely to be unemployed. The difference is likely the result of Germany’s Kurzarbiet scheme to keep workers attached to their employers (so they aren’t officially unemployed) compared to the U.S. use of unemployment insurance. Similar schemes are set-up in all Western European countries.

With the pandemic, unemployment was, in many cases, spurred on by an inability to work from home. Consistent with World Bank research that finds that “jobs more amenable to WFH are more prevalent among workers with high levels of education, in salaried employment, and among younger workers,”[iii] high income workers in our tracker are almost twice as likely to be working at home as low income workers.[iv] 

Spending Bifurcation

Spending bifurcation is also very clear. We track spending intent on 15 categories of goods and services ranging from groceries to travel. Some of these, like housing and medicines, are essential, or non-discretionary from the point of view of the consumer. Others, like entertainment and electronics, can be more easily postponed or managed without. This is discretionary spending.

Globally, since early May, the difference in discretionary spending intent has widened. At that time, approximately 40% more high-income than low-income households planned to spend more on discretionary goods. By the beginning of January, about twice as many high-income households reported such plans.

Not only are high income households now even more willing to open their wallets for “nice to have” items, they are also a third more willing to pay for the contactless commerce and other forms of convenience accelerated by the pandemic. This differs quite a bit by country.  Germany and the Netherlands lead the way by being three to four times more likely to pay for convenience respectively. And despite the importance of convenience during the pandemic, lower income households are less willing (or able) to pay for it.

How should businesses respond? 

For the past few years, we have advised Retail and other consumer companies to prepare for a corresponding bifurcation between price-based value and value delivered through differentiated product or services.[i] Indeed, priced-based mass merchants and luxury brands fared well while others struggled during the pandemic. Possibly more than ever, companies should urgently refine their focus.

Specifically, they should:

  • Deepen empathy for consumers and employees. Wall Street and Main Street have experienced the pandemic differently. Don’t be fooled by rising indices. Reconnect with and evaluate your investments in your customers and employees to better understand their experiences and needs.
  • Make trust a guiding principle. Trust in institutions overall is in decline, but it is critical to success. Eighty-five percent of customers choose trusted brands over others, compared with only 60% who select brands they don’t trust.[v] Trust has clear impact on financial performance.[vi] Investing in and continuously building mutual trust with consumers can help ensure they come along with you on the journey, even when inevitable shocks occur.  
  • Become more granular in your consumer observations. The standard, historical data relied on pre-pandemic may not capture new consumer realities. Decisions made based on old data models can easily go wrong. While continuing to rely on judgment and instinct, leaders should also get creative in seeking new forms of outside-in real-time consumer, marketplace, competitive, and economic data to inform decisions.
  • Become more precise in your value propositions. Adjust how you segment consumers, prioritize channels, establish product portfolios, position your brands, and deploy service models in ways designed to address your chosen strategy and explicitly avoids getting caught in the shrinking middle. 
  • Be agile with your channels. The shift to digital was already happening, but COVID accelerated consumer adoption. Companies that invested heavily in their digital commerce, services, and offerings pre-pandemic (e.g., mass merchants) shifted faster between channels and fared better than those that did not. Recently, half of consumer company executives said they will be increasingly reliant on online and omnichannel strategies.[vii]

Other contributors to this piece: Steve Rogers, executive director, Deloitte Insights Consumer Industry, Deloitte LLP and Danny Bachman, US Economic Forecaster, Deloitte

[i] The Great Retail Bifurcation, Deloitte Insights

[ii] See Eric Morath, Theo Francis, and Justin, “The covid recovery carves deep divide between haves and have-nots,” Wall Street Journal, October 5 2020.

[iii] Maho Hatayma, Mariana Viollaz and Hernan Winkler, “Who can really work from home,” World Bank blogs, May 28, 2020.

[iv] Deloitte Global State of the Consumer Tracker[i] The Great Retail Bifurcation, Deloitte Insights and “The consumer products bifurcation,” Deloitte Insights

[v] Deloitte Consulting LLP, Deloitte HX TrustIDTM survey, May 2020.

[vi] Stephen M. R. Covey and Donald R. Conant, “The connection between employee trust and financial performance,” Harvard Business Review, July 18, 2018.

[vii] Deloitte 2021 Consumer Products Outlook

Leon Pieters

Leon Pieters is the Consumer Industry leader for Deloitte Global, where he is responsible for overseeing globally four consumer sectors: Automotive; Consumer Products; Retail, Wholesale & Distribution (RWD); and Transportation, Hospitality & Services (THS). Leon is charged with setting the overall strategic direction and go-to-market strategy for the practice.

Anthony Waelter

Anthony Waelter

Anthony is a partner in Risk & Financial Advisory within Deloitte & Touche LLP. He currently serves as both the US Consumer Industry Leader and Advisory Consumer Industry Leader. Previously, he led Advisory’s Finance Transformation practice and is a former member of Deloitte’s cross-business Finance Transformation leadership team. With nearly 30 years providing finance transformation services to multinational clients in the consumer products, manufacturing, transportation, retail and distribution sectors, he focuses on assisting clients with transformational projects involving the development and/or evaluation of finance operations and programs designed to improve financial integrity, compliance and operational effectiveness and efficiency.

.

Yahoo Finance

Dr. Cedric Dark, Assistant Professor at Baylor College of Medicine & Board Member with Doctors for America joins Yahoo Finance’s Kristin Myers to break down the latest coronavirus developments as the U.K. authorizes emergency use of the Pfizer, BioNTech vaccine. For 2020 election results please visit: Election results: https://www.yahoo.com/elections Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb

Google Threatens to Pull Search from Australia; IPA Predicts Eventual Ad Spend Recovery | ExchangeWire.com http://www.exchangewire.com – Today[…] of their own companies, the report found that pent-up consumer demand in conjunction with ongoing vaccination efforts would see ad spend make a ‘robust’ recovery in 2021 […] As the vaccination roll-out continues, as the lockdowns begin to ease and as firms adapt to post-Brexit rules, perhaps […]0

New Vaccine Management Solutions Rolled Out http://www.shrm.org – Today[…] ‘Command Centers’ Workday’s solution allows HR leaders to evaluate vaccine availability and worker vaccination status along with enabling employees to confidentially self-report vaccination information, said Barbry McGann, senior vice president of product management for Workday […] also has released a new solution designed to help organizations streamline their COVID-19 vaccination campaigns. The solution promises to address the challenges of vaccination at large volumes, which includes distribution, administration and monitoring of the vaccine […]N/A

Bengal assembly passes resolution demanding withdrawal of new farm laws : The Tribune India http://www.tribuneindia.com – Today[…] 3 hours ago Cities View All Covid vaccination drive picks up pace in Amritsar district 9 hours ago Violated? Don’t hestitate to contact Sakhi […] 9 hours ago NRIs remained misinformed due to suspension of internet, say farmers 9 hours ago Vaccination drive picks up pace in Hoshiarpur 9 hours ago Finally, an award for taking care of forsaken wards 9 […]36

Fxview – EURUSD TICKS LOWER AMIDST LINGERING CORONAVIRUS… | Facebook http://www.facebook.com – Today[…] Apart from travel restrictions, the halt in the mass vaccination drive due to lack of doses is adding to the already bleak tone surrounding the single currency […] 2080 level in response to the vaccine supply shortages, which led Spain to halt its vaccination drive […]N/AUpstract default.upstract.uc.r.appspot.com – Today[…] Australia) COVID-19 pandemic in Africa COVID-19 pandemic in Morocco Morocco begins its COVID-19 vaccination campaign with King Mohammed VI receiving the first dose […]N/A

Rail delays hit Finland on Friday | Yle Uutiset | yle.fi yle.fi – Today[…] Thursday’s papers: Vaccination slowdown, Finnish alternative, Nokia’s mystery bounce 27 […]0

\Rail delays may last all day Friday | Yle Uutiset | yle.fi yle.fi – Today[…] Thursday’s papers: Vaccination slowdown, Finnish alternative, Nokia’s mystery bounce 27 […]0

FPOs show the way to increase farm income : The Tribune India http://www.tribuneindia.com – Today[…] 3 hours ago Cities View All Covid vaccination drive picks up pace in Amritsar district 9 hours ago Violated? Don’t hestitate to contact Sakhi […] 9 hours ago NRIs remained misinformed due to suspension of internet, say farmers 9 hours ago Vaccination drive picks up pace in Hoshiarpur 9 hours ago Finally, an award for taking care of forsaken wards 9 […]2

Technical Customer Support Representative job in Concord, N… jobs.frontend.la – Today[…] Mayor Eric Garcetti made clear in December that he would wait his turn to receive a COVID-19 vaccination, echoing county policy that nursing home residents, people 65 and older and medical workers will be […]0

Spain’s vaccine drive stumbles as stocks run dry http://www.digitaljournal.com – Today[…] in Europe over vaccine supply shortages, the crisis has come to a head in Spain with regional vaccination campaigns delayed or even halted as doses run out […] 76 million vaccines received as part of the EU’s vaccination plan […] On the other hand, it was ‘every man for himself’ to avoid being last in the vaccination rankings,” said Angela Hernandez, deputy head of Madrid’s AMYTS doctors union […]0

Vaccine Centre To Open On Tuesday http://www.telfordunited.com – Today[…] to announce a partnership with Wellington Pharmacy which will see the New Bucks Head become a new Vaccination site […] The vaccination centre is one of several vaccinated sites in Telford and Wrekin, which were announced this week […] The Vaccination site will be based in the Dugout Bar will initially be vaccinating people aged 80 and over, and who […]0

Too Little of a Good Thing A Paradox of Moderate Infection Control http://www.ncbi.nlm.nih.gov – Today[…] precipitously in developed countries decades before the advent of specific interventions such as vaccination or antimicrobial treatment […] Accordingly, Brisson et al8 hypothesized that a reduction in the force of infection following vaccination could result in a higher number of zoster cases for several decades after the initiation of mass vaccination […]16

Health Care Assistant – Cavendish Square http://www.jobs.nhs.uk – Today[…] uk 02078118092 Flu Vaccination – What We Expect of our Staff The Trust is committed to developing and delivering excellen […] us, and it is the expectation of The Royal Marsden that all patient-facing staff have an annual flu vaccination, provided free of charge by the Trust […]0

AMC shares rise after company raises over $900M, rules out immediate bankruptcy talks | One America News Network http://www.oann.com – Today[…] “So basically, if you think that at some point through vaccination and other means, infection and vaccination, a significant portion of the public will be allowed to and interested in returning to th […]32

Sr. Director BRM, Commercial Systems job in Irvine, CA | … jobs.frontend.la – Today[…] Mayor Eric Garcetti made clear in December that he would wait his turn to receive a COVID-19 vaccination, echoing county policy that nursing home residents, people 65 and older and medical workers will be […]0

Short film showcases impact of University research | University of Bedfordshire http://www.beds.ac.uk – Today[…] uk/research As recent Covid-19 vaccination developments show, the UK’s universities are hotbeds for important research, economic recovery an […]0

Covid-19 Live Updates: Mexico’s Death Toll Grows to World’s Third Highest – The New York Times http://www.nytimes.com – Today[…] The disagreement is fueled by concerns over a sluggish start to the vaccination campaign in its 27 member states, and has pitted Britain against the bloc, which it fully quit o […] states, along with representatives of pharmaceutical companies, to discuss the country’s troubled vaccination scheme, after her health minister, Jens Spahn, warned that the country was facing another 10 week […] Doroshin put a few in his backpack, along with the vaccination cards that are used to track vaccination timelines […]N/A

Assistant Teacher job in Chicago, IL | Chicago Child Care S… jobs.frontend.la – Today[…] Mayor Eric Garcetti made clear in December that he would wait his turn to receive a COVID-19 vaccination, echoing county policy that nursing home residents, people 65 and older and medical workers will be […]0

Job Details | Superdrug Careers http://www.superdrug.jobs – Today[…]   This is a new role in Superdrug and an excellent opportunity to play your part in the largest UK vaccination programme in history! As a Vaccine Support Assistant, you’ll be required to perform 3 critica […] Support Assistant, you’ll be required to perform 3 critical roles in one of our carefully selected vaccination locations to ensure the rollout runs smoothly and patients receive the best possible care […]  Working alongside a pharmacy team member or nurse in the consultation room you will witness the vaccination and make a record of the patients details and the vaccination given […]3

How to import WhatsApp chats to Telegram; read step-by-step : The Tribune India http://www.tribuneindia.com – Today[…] 3 hours ago Cities View All Covid vaccination drive picks up pace in Amritsar district 9 hours ago Violated? Don’t hestitate to contact Sakhi […] 9 hours ago NRIs remained misinformed due to suspension of internet, say farmers 9 hours ago Vaccination drive picks up pace in Hoshiarpur 9 hours ago Finally, an award for taking care of forsaken wards 9 […]4

CDL Class A Driver job in Dallas Fort Worth TX | Diamondbac… jobs.frontend.la – Today[…] Mayor Eric Garcetti made clear in December that he would wait his turn to receive a COVID-19 vaccination, echoing county policy that nursing home residents, people 65 and older and medical workers will be […]0

Eat your way out of COVID-19 – mb.com.ph – Today[…]   While we wait for vaccination and medications to treat Covid-19, let us all focus on our first line of defense, which i […]N/A

Coronavirus live news: EU commission says AstraZeneca contract is binding and ‘crystal clear’ | World news | The Guardian http://www.theguardian.com – Today[…] Other vaccination centres have taken a more liberal approach, inviting younger patients for jabs at the end of th […]

Is It Possible To Recover Funds From Trading & Investment Frauds

Investors of certain markets have had a hard time this year due to the COVID 19 pandemic. This year global economies have experienced a heavy recession. And if that is not bad enough, investment scammers are still stealing from innocent people. Trading and investment scams evolve every day. Nowadays they have become so sleek, you don’t know you have been robbed until it is too late. Fund recovery after such scams is a hard and long process, but it can be done.

Trade and investment scams are cleverly orchestrated schemes to rob innocent people. They convince people to part with their money with fake promises of high returns. They prey on people who want to get returns on investments fast.

Nowadays they impersonate genuine investment traders and convince people to invest. They may even make one payment to trap you into investing more money, only for you to suffer devastating losses.

Some of the Notorious Investment Scams

The common characteristic of investment scams is that they promise low-risk investments with high returns. They come in different languages but the premise is the same. For instance, an advance fee scheme persuades you to give a small amount for triple returns. You may feel that you are giving just a small amount, but if they trick millions of people, they make a lot of money. They come up with “boiler room” offices to convince you that they are professionals. Once you lose your money, you cannot trace them.

Some scammers pitch “exempt securities” and sell you on a fake exclusivity narrative. They convince you of how lucky you are to be the first one to know of these securities. Later you realize that you paid for non-existent securities. 

Forex scams are also on the rise. Some forex trading is legal. But scammers have come up with clever ways to mint money out of innocent traders. They convince you to open ghost accounts with promises of big returns. Once you make your deposits that is the end of the road for you.

Other scams include offshore investment, pension scams, and Ponzi scams. You send your money or offshore investments in the name of lowering your taxes and you lose it all. Ponzi scams promise quick cash in a short time. You may also fall victim to pump and dump schemes that lead you to buy worthless stocks. 

How Can You Spot a Scam?

You have to be very careful about money nowadays. Trade and investment scammers come up with clever ways to deceive victims every day. Some of these scams look legit and before you know it, millions of people lose their money. However, here are the obvious signs that you can look out for in these scams.

  • They offer very high returns with very low risks.
  • They promise you hot insider secrets and information
  • They give you pressure to make decisions instantly. They convince you that you are running out of time.
  • The sellers are not legally registered to trade stocks or investments. Some of them can convince you with fake documentation. Always do your background research.
  • They keep sending you spam messages on social media and your email address.
  • Pension schemes target senior citizens and coerce them to disclose personal information about their pension plans.
  • They are relentless with unsolicited advice. They barely let you breathe. A genuine company lets you breathe and make a sound decision.

Why Do People Fall Victim to These Scammers?

Surprisingly, more people fall into these scams every year. There are many reasons why someone may fall victim to these scams. Some of them are very crafty in the way they market themselves. They forge legitimate documents and convince people that they are legit. They use very inviting language and narratives to attract the masses. They use false advertisements and stories to convince you that others have had successful investment returns. They offer the lowest risk and the highest returns.

The rate of unemployment and poverty is on the rise. Simple psychological manipulation can cause a person to fall victim to these scams. They promise quick riches to people who are struggling and they believe them. They ask for something small at first, so people oblige.

Can People Recover Their Money From a Scammer?

Investment fraud causes disorientation, stress, and worse, financial distress. Funds recovery is a long and hard process, but it can be a success. Victims should report the scammers to anti-fraud government authorities. You can also contact your bank immediately to reverse transactions. If it’s not too late you can get your money back. Collect as much evidence as possible and file a funds recovery police case.

If you can get a hold of the scammers, you can file a class act as a group and go to court. If you are not a part of a group scam, get an investment lawyer, and file a single case. You can also use a fund recovery company that specializes in asset recovery. They conduct a detailed investigation with legal help and they often recover money lost to scammers.

Binary options continue to be a highly-debated subject among retail traders and even though some might argue that some brokers focusing on these assets have a long track-record in providing reliable services, in reality, the whole binary options industry favors the appearance of scammers.

Letting aside the fact that trading these instruments comes with a high risk of loss, there are plenty of other reasons that this is a “heaven for scammers” and in this article we will like to have more focus on the matter.

Binary options favor the “house”

If we think about how binary options work, the trader is always on the weaker side. Most of the binary options brokers offer around 80% payout rate and that has many implications on the probability to generate returns in the long run.

To be more specific, let’s say to buy a binary option with $10 and assume the price will be above the strike price at the expiration (call option). If you are right, then you will make $8 in profit. However, if you are wrong, you will lose all $10, which puts you in a position to have a high win rate over any given period, to be a profitable trader.

If we combine this disadvantage with the ability to manipulate prices on the platform (this will be discussed in one of the following sections), traders are faced with guaranteed losses, rather than profits, when dealing with a binary options scam broker. A lot has changed in terms of regulation for these companies and because of that, now we have most of them operating offshore.

Binary options brokers generally operate offshore

Since 2018, European regulators made a historic decision to reshape the regulation for retail online trading. As a result, there are tighter restrictions for traders with little experience and at the same time, binary options are prohibited for retail traders. This had been a major hit for brokers, which are now operating offshore.

This creates an even bigger problem, considering they can now operate free from any regulatory requirements, and even target customers based in areas where binary options trading is no longer allowed. As with any other broker type, operating via an offshore entity should be a major warning flag, signaling a binary options scam or a Bitcoin fraud.

There’s a long list of scams related to binary options, and more than 90% of them were operating via offshore companies. As a result, traders that still want to trade these instruments, despite acknowledging the high risk associated, should avoid these entities and instead look for brands that have a long track record in providing reliable services.

Marketing exaggerated returns

Like most of the fraudulent companies, a binary options scam will use aggressive social media advertising to reach inexperienced people and promise exaggerated returns. This is a typical practice and works many times because financial strains are pushing some to take drastic measures and embark on avenues that could generate returns fast.

Unfortunately, a binary options broker can’t ensure or talk about the level of profitability you’ll be having. That will be depending on the market’s performance, your expertise in the world of trading, as well as the effectiveness of your trading strategy. The broker is a simple intermediary that creates a link between you and the market via trading software.

When dealing with a binary options broker promising you will make a lot of money, the best thing to do is walk away as fast as possible. It can be a company operating not on behalf of customers, but one that wants to set up a trading or bitcoin scam.

Accurate pricing on the binary options platforms?

Another important aspect to consider has to do with how the prices displayed on the platform are calculated. A binary options scam can be easily spotted by simply reading its terms & conditions. These companies are using a method that implies averaging the pricing from multiple liquidity providers. As a result, the prices you see on the platform are not the actual market valuations, but averages calculated by the broker.

Considering binary options trading is generally short-term and even a pip can make the difference between profit and loss, it would be important to have the most accurate pricing.A bitcoin scam hide behind this price adjustment technique that generally results in massive losses for clients in the long run.

Many binary options brokers turned out to be scams

After taking an in-depth look online, we’ve noticed that there are plenty of blacklists with binary options scam. Only a few companies are still labeled as not scam, which means that most were eventually flagged as “not to be trusted”. For someone looking now for a binary options broker, this fact should be raising doubts, even on those companies that are still out there providing their services.

Keep in mind that most binary options brokers have affiliated programs and some positive online reviews may be coming from individuals that are affiliates and are generating income based on each new customer they bring in. As a result, even reviews should be taken with a grain of salt. The ultimate goal should be to avoid being trapped in a binary options scam and any Bitcoin fraud. By considering all the relevant data we’ve highlighted today, we think that’s possible.

Final Words

We can conclude that binary options trading comes with high risks and the whole industry is designed in such a way that scammers can thrive. If you want to trade these instruments, despite all the downsides, it would be important to do in-depth research and find out a company that has been operating for a long time and gets reliable positive feedback from customers. So many binary options scams had been uncovered during the past few years and this should raise serious questions about the interests of these brands. Finding the best binary options broker is a very complex process and will require you to not make any concessions.

.

.

MoneyBack Hero

Are you a victim? MoneyBack Hero can help you get your money back. Click Here for a free consultation: https://www.moneybackhero.com Looking for more info on Binary Options, Forex, CFD, or Cryptocurrency scams? Take a look at these helpful articles on the Money Back Hero site: 1) Read to understand the psychology employed by the scammers: https://www.moneybackhero.com/educate… 2) Not sure if you are the victim of a trading scam? Read this for the telltale signs: https://www.moneybackhero.com/how-do-… 3) Want to know your best option to get your money back? Red this to discover your #1 weapon to get your money back: https://www.moneybackhero.com/how-do-… At Money Back Hero (https://www.moneybackhero.com), we are not merely a wealth recovery service, we are your personal team of experts who do one thing all day long: use every legal trick in the book to get your money back from the scammers.

%d bloggers like this: