In some countries professionals and investors who are making a passive income are often targetted for identity theft by the rich and powerful communities, especially if the investor is from a poor community and is a older single woman. Are citizens having passive income targeted for identity theft in your country?
Risk of making passive income
- Thread starter timewo
- Start date
Identity theft in my country is common for sure. If you are earning so well, people with power may find a way to take from you. In my country, there are even cases of high powered people grabbing land from the poor.
I have never encountered this kind of incident or read in the news as to being targeted for identity theft if they have passive income, but their income will be taxable like income from cryptocurrencies and stocks or property sales.
Identify theft doesn't happen here, but if you earn money passively ams people don't know how exactly you do it, you stand the risk of being labeled as a scammer or thief. To hide this, some people start a small business on the side.
I do not see the risk of identity theft associated with earning passive income. I have not heard of such incidents in my location. There are scammers out there, but they do not specifically target those who earn passive income.
People venturing into the passive income generation arena are vulnerable to fraud in virtually all jurisdictions.
In my country, a ruthless cartel is ever scouting to identify vulnerable persons who own passive income generating assets so as to steal these resources.
In my country, a ruthless cartel is ever scouting to identify vulnerable persons who own passive income generating assets so as to steal these resources.
is this some sort of a joke? Does anyone actually believe that rich and powerful people will actually steal the identity of poor people to make money? Well, I do believe rich people might be involved in the illegal practice but not something like stealing identity from a poor individual.
Some of these risks associated with passive income streams include losses due to upfront investment if the ventures fail, volatility of profits caused by changing market conditions, increasing competition that may result in shrinking market share, declination of assets values over time if no refresh is done to the offerings Risks are managed with adequate prior planning and by diversifying.
Well, identity theft is common worldwide. They usually target the vulnerable ones. I hope I won't be a victim of identity theft because it can be devastating, that is for sure.
