HYIP's, are they legal ?

[andrew25]

For long time I have been wondering whether the HYIP's are legal or not. Many people say it is illegal but then why certain payment processors accept such scam programs. Is there any law clearly prohibiting the use of HYIP like businesses.

[mneilson]

HYIPs (High Yield Investment Program) are completely illegal almost every where in the world. Not all reputed payment processor accepts hyip site membership. The real problem is, these sites never say they are hyip sites. So it is not possible for all payment processors to judge them so quickly.

[richardm1964]

In many countries HYIP is treated as illegal. But in some part of the world this is being allowed to run. That's why we find good numbers of hyip websites. But most of them are scams. Reputed payment processors does not allow hyip sites to use their services.