This article discusses the impact of Ponzi schemes on the financial situation of people in Kazakhstan. The article describes factors contributing to falling into financial pyramid schemes, the approximate amount of money invested, and offers advice on avoiding this problem.
Keywords: financial literacy, trading software.
В этой статье обсуждается влияние схем Понци на финансовое состояние жителей Казахстана. В статье описываются факторы, способствующие попаданию в финансовые пирамиды, примерная сумма инвестированных денег и предлагаются советы по избежанию этой проблемы.
Ключевые слова : финансовая грамотность, торговое программное обеспечение.
Research purpose: To reveal what influence Ponzi schemes have on the financial state of the inhabitants of Kazakhstan and, at the same time, to find out the reasons of getting and the amount of invested money in financial pyramids. To propose methods of avoiding Ponzi schemes and to suggest their further development.
Hypothesis: Involvement in financial pyramid schemes may be due to the low level of financial literacy among the majority of Kazakhstan citizens and have a negative impact on the financial condition of the person, with an approximate loss of 200,000 to 2 million tenge. Their number may decrease in the future due to the intensified work of law enforcement agencies and growing awareness among the population.
The object of research: the financial condition of the Kazakhstani people.
The subject of research: financial problems because of Ponzi schemes.
The leading idea of the study: The number of Ponzi schemes is constantly growing, which can lead to the deterioration of the financial and emotional state and poverty of the people of Kazakhstan, which requires an increase in publicity among the population and improved financial literacy.
Scientific novelty and theoretical significance and research: There is very little information about Ponzi schemes and their impact on the financial situation of Kazakhstanis; therefore, this study will help to identify the main reasons for falling into Ponzi schemes and get accurate data on the money invested, which will help to identify their mathematical impact on the financial situation.
The practical significance of research: This survey can help Kazakhstani people get tips on how to avoid getting involved in Ponzi schemes and increase their visibility in the media space.
Methodology: The survey method was used to obtain quantitative data such as the amount of money invested, the number of people involved in Ponzi schemes, and a list of problems encountered. The interview method was helpful in obtaining qualitative information from victims of Ponzi schemes and learning about their personal experiences and the impact of the problem on their emotional and financial well-being. Also, the interviews with police officers helped identify the main ways to deal with falling into pyramid schemes.
Results: The average age of getting into pyramid schemes was 20–39. The amount of money invested was between 180,000 and 5,000,000 tenge. Most of the victims of Ponzi schemes (67 %) experience different problems in financial, emotional, behavioral, and health terms. In terms of financial problems, people go through bankruptcy, hunger, a lack of money for basic needs, poverty, and also experience self-blame, guilt, shame, depression, a loss of faith in the business community, family problems, and job loss. Regarding the impact on the emotional state, in addition to the above problems, respondents also indicated the emergence of anxiety and condemnation from close friends, which is typical in Kazakhstan because of the mentality. In solving problems, 44 % of the respondents reported a lack of reaction. It is due to lack of understanding of the fact that the money was lost, a reluctance to let a friend in the scheme, and a sense of shame in front of the family. 33.3 % had contacted government agencies and courts, which is most likely due to the fact that people in Kazakhstan are now more open and willing to work with law enforcement agencies, even if their work is not satisfactory, and most of the respondents expressed negative opinions about the work of court and police. The majority noted that the number of Ponzi schemes will decrease due to the development of technology and the improvement of law enforcement in future. The advice mentioned by the police officer was financial literacy training, double-checking of documents, investing in education, and not waiting for a quick profit from the business.
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