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Replication Data for: Investigating the concentration of High Yield Investment Programs in the United Kingdom

Harvard Dataverse (Africa Rice Center, Bioversity International, CCAFS, CIAT, IFPRI, IRRI and WorldFish)

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Title Replication Data for: Investigating the concentration of High Yield Investment Programs in the United Kingdom
 
Identifier https://doi.org/10.7910/DVN/BLGH0A
 
Creator Agarwal, Sharad
Vasek, Marie
 
Publisher Harvard Dataverse
 
Description Ponzi schemes that offer absurdly high rates of return by relying on more and more people paying into the scheme have been documented since at least the mid-1800s. Ponzi schemes have shifted online in the Internet age, and some are re-branded as HYIPs or High Yield Investment Programs. This paper focuses on understanding HYIPs' continuous presence and presents various possible reasons behind their existence in today's world. A look into the countries where these schemes purport to exist, we find that 62.89% of all collected HYIPs claim to be in the United Kingdom (UK), and a further 55.56% are officially registered in the UK as a 'limited company' with a registration number provided by the UK Companies House, a UK agency that registers companies. We investigate other factors influencing these schemes, including the HYIPs' social media platforms and payment processors. The lifetime of the HYIPs helps to understand the success/failure of the investment schemes and helps indicate the schemes that could attract more investors. Using Cox proportional regression analysis, we find that having a valid UK address significantly affects the lifetime of an HYIP.
 
Subject Computer and Information Science
Ponzi scheme, investment fraud, financial crime, cybercrime measurement
 
Language English
 
Contributor Agarwal, Sharad
Vasek, Marie
Agarwal, Sharad