The influence of Ponzi schemes on financial position of Kazakhstani citizens | Статья в журнале «Юный ученый»

Отправьте статью сегодня! Журнал выйдет 19 октября, печатный экземпляр отправим 23 октября.

Опубликовать статью в журнале

Автор:

Научный руководитель:

Общественно значимое исследование Отличный выбор методов исследования Высокая практическая значимость

Рубрика: Экономика

Опубликовано в Юный учёный №6 (69) июнь 2023 г.

Дата публикации: 03.06.2023

Статья просмотрена: 33 раза

Библиографическое описание:

Алтыбай, Кымбат. The influence of Ponzi schemes on financial position of Kazakhstani citizens / Кымбат Алтыбай, Н. С. Шаймерденова. — Текст : непосредственный // Юный ученый. — 2023. — № 6 (69). — С. 73-74. — URL: https://moluch.ru/young/archive/69/3815/ (дата обращения: 05.10.2024).



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.

References:

  1. Artzrouni, M. (2009). The mathematics of Ponzi schemes.
  2. BAR LEV, E. (2022). Main implications and reactions for the ponzi schemes’ victims. Journal of Public Administration, Finance and Law.
  3. Bartoletti, M., Carta, S., Cimoli, T., & Saia, R. (2019). Dissecting Ponzi schemes on Ethereum: Identification, analysis, and impact.
  4. Chen, J. (2022, August 27). Ponzi schemes: Definition, examples, and origins . Investopedia .
  5. Cohler, A. (2017). The Evolution and Impacts of the Ponzi scheme and Governmental oversight .
  6. Levmore, S. (2012). Rethinking Ponzi-Scheme Remedies in and out of Bankruptcy. Chicago Unbound , 92(969), 990.
  7. Wilkins, A. M., Acuff, W. W., & Hermanson, D. R. (2012). Understanding a Ponzi Scheme: Victims’ Perspectives. Journal of Forensic & Investigative Accounting , 4(1), 17.
  8. Zucci, K. (2022, September 23). Why Financial Literacy Is So Important. Investopedia.


Ключевые слова

financial literacy, trading software

Похожие статьи

To questions of methods of support of innovative activity

In article various approaches to a technique state are considered to support innovative activity in economically developed countries of the world. On basis of this analysis authors offered the directions of the state support of innovative process in ...

Marketing problems of innovative entrepreneurship in Russia and the ways to overcome them

The article is devoted to the problem of using marketing tools in the activity of innovative business in Russia. The author analyzes the innovative activity of enterprises in Russia. Ways are proposed to increase marketing activity of innovative ente...

Some issues of evaluation of teaching efficacy perception

Scientific article deals with the research of the main features of investigation of evaluation of teaching efficacy perception on the basis of historical-cultural point of view. The aim of the present study is to determine how teaching efficacy is pe...

Cryptocurrency as a phenomenon of international competition

This article analyzes cryptocurrency as an innovative financial instrument of the modern financial system. The article describes the features cryptocurrency, which are its competitive advantages in transactional activities. Moreover, the article show...

Venture capital market in Russia under sanctions

This article analyses the specifics of the development of the venture capital market in Russia under conditions of sanctions. The main reasons for the crisis phenomena in the venture capital market are investigated, and an assessment and forecast of ...

The role of teaching technologies in the development of speech and written speech in the English language

This article discusses the formation of language learning skills in the process of learning English to improve independent writing skills of students using information technology and the development of their creative abilities.

Criteria for the application of technologies for water distribution of the Syrdarya river in Central Asia

The study showed what requirements exist in Central Asia for the application of technology on the Syrdaria river. Depending on the context, several country criteria had to be considered to determine why water is not being used equitably and the impor...

Experience in managing monetary policy of Indonesia and lessons with Vietnam

This paper examines the conduct of Indonesian monetary policy through various stages of economic development. In particular, this research focuses on the study of changes in the monetary policy management mechanism of Indonesia since the Asian financ...

Kazakhstan's Film Industry: Exploring the Cinematic Landscape

This scholarly article critically examines the challenges faced by the Kazakhstani film industry. It analyzes the obstacles impeding its development, explores the historical significance of films, and highlights the transformative influence of certai...

The role of teaching English in the period of modernization in Uzbekistan

The article analyses the global position of the English language in the contemporary world, its emergence as the dominant business and socio-economic lingua-franca and the factors leading to this phenomenon. Also, the article analyzes the current Eng...

Похожие статьи

To questions of methods of support of innovative activity

In article various approaches to a technique state are considered to support innovative activity in economically developed countries of the world. On basis of this analysis authors offered the directions of the state support of innovative process in ...

Marketing problems of innovative entrepreneurship in Russia and the ways to overcome them

The article is devoted to the problem of using marketing tools in the activity of innovative business in Russia. The author analyzes the innovative activity of enterprises in Russia. Ways are proposed to increase marketing activity of innovative ente...

Some issues of evaluation of teaching efficacy perception

Scientific article deals with the research of the main features of investigation of evaluation of teaching efficacy perception on the basis of historical-cultural point of view. The aim of the present study is to determine how teaching efficacy is pe...

Cryptocurrency as a phenomenon of international competition

This article analyzes cryptocurrency as an innovative financial instrument of the modern financial system. The article describes the features cryptocurrency, which are its competitive advantages in transactional activities. Moreover, the article show...

Venture capital market in Russia under sanctions

This article analyses the specifics of the development of the venture capital market in Russia under conditions of sanctions. The main reasons for the crisis phenomena in the venture capital market are investigated, and an assessment and forecast of ...

The role of teaching technologies in the development of speech and written speech in the English language

This article discusses the formation of language learning skills in the process of learning English to improve independent writing skills of students using information technology and the development of their creative abilities.

Criteria for the application of technologies for water distribution of the Syrdarya river in Central Asia

The study showed what requirements exist in Central Asia for the application of technology on the Syrdaria river. Depending on the context, several country criteria had to be considered to determine why water is not being used equitably and the impor...

Experience in managing monetary policy of Indonesia and lessons with Vietnam

This paper examines the conduct of Indonesian monetary policy through various stages of economic development. In particular, this research focuses on the study of changes in the monetary policy management mechanism of Indonesia since the Asian financ...

Kazakhstan's Film Industry: Exploring the Cinematic Landscape

This scholarly article critically examines the challenges faced by the Kazakhstani film industry. It analyzes the obstacles impeding its development, explores the historical significance of films, and highlights the transformative influence of certai...

The role of teaching English in the period of modernization in Uzbekistan

The article analyses the global position of the English language in the contemporary world, its emergence as the dominant business and socio-economic lingua-franca and the factors leading to this phenomenon. Also, the article analyzes the current Eng...

Задать вопрос