On the off chance that you live in South Africa, Botswana or Zambia and you know somebody who has joined Global Dream Network or you might be a member already, at this point this article is for you.
Perhaps you’re only inquisitive about it or possibly you need to turn into a Global Dream Network part so you can procure a minimal expenditure as well while you give to other people.
In any case, is Global Dream Network genuine or simply one more trick or fraudulent business model?
Look at our audit to discover increasingly about this South African shared loaning stage.
Before we continue, enable me to accept this open door to clarify that I don’t despise nor am I PROMOTING Global Dream Network.
I composed this Global Dream Network audit for the sole motivation behind uncovering reality with regards to this business opportunity so you can choose whether you should participate or avoid it.
Presently I comprehend that my assessments maybe not quite the same as yours.
So if anytime you need to share your considerations about anything on this audit, don’t hesitate to do as such in the Comment Section underneath.
Summary: Global Dream Network is a peer-to-peer lending network system with an MLM plan of action. It is situated in South Africa, yet who works the site or where it is found precisely involves hypothesis including the owner.
Registration is free, yet you have to “give” first before your enrollment can be enacted. The central issue, along these lines, is whether Global Dream Network is genuine or simply one more fraudulent business model that will keep you up during the evening.
What is Global Dream Network?
In the present destitute world, we’re continually searching for approaches to win a minimal expenditure to subsidize a philanthropy or a crisis. The uplifting news is there are sites, for example, GoFundMe, Kickstarter, Crowdrise, and others, that you can depend on when you have to raise assets for your business, a claim, or some health related crisis. For those hoping to subsidize their business adventures, you can generally join to get a microloan or join a shared loaning association which will loan you some truly necessary money.
Another site that needs to join the rundown of group sharing and distributed loaning stages is Global Dream Network.
As indicated by its site, Global Dream Network is a group sharing, distributed, and direct subsidizing stage or crowd sharing, peer-to-peer, and direct funding platform. This implies the site enables individuals to raise assets for an individual crisis, support, or a business adventure. In the event that you are a GDN part, you can likewise “give” assets to others to subsidize their fantasies or promotions. his means that the website allows members to raise funds for a personal emergency, advocacy, or a business venture. If you are a GDN member, you can also “donate” funds to others to fund their dreams or advocacies.
Global Dream Network isn’t an organization or a partnership. It is essentially a platform for peer-to-peer lending or microfinance or anything you desire to call it.
So how would you join the Global Dream Network?
Simple. You should be welcomed by a companion or a relative who is an individual from GDN. This part will fill in as your support. When affirmed, you are currently qualified to get a gift.
There is no data about who possesses this site or where its office is. Leading a whois query doesn’t help much either. Nearly everything about this site is redacted for protection, and the main supportive data you can gather from it is that its IP area is in Johannesburg, South Africa.
Other Things You Should Know About Global Dream Network
Joining the Global Dream Network is simple. However, remember that apart from your name and email, its administrators likewise need your bank name, account number, and portable number. In case you’re not open to giving out your bank and contact data to an obscure site this way, at that point it’s best not to join Global Dream Network.
All in all, you may ponder where Global Dream Network gets its assets?
Assets the individuals get are “gave” by different individuals. As indicated by the Global Dream Network site, it doesn’t gather organization expenses. Everything is free — or so it claims. Any sum given by one part is sent legitimately to another part.
Be that as it may, pause. This is not your simple peer-to-peer lending scheme. “Give” a particular add up to get an arrival on your speculation and move through the positions. The benefit you will get will rely upon where you are on the order. Note, nonetheless, that the cash being utilized by Global Dream Network is the South African rand.
Global Dream Network utilizes neighborhood banks as donation or installment processors. In the event that you need to get a gift, you have to affirm that you have gotten the assets in your ledger.
You have to affirm the donation inside the following 12 hours. On the off chance that you don’t favor the gift inside that time span, your record will be blocked right away. You won’t be qualified to get or make any donations.
Something else to recollect is that you won’t ready to demand a discount. Why? Since you have sent the assets straightforwardly to what GDN calls an individual’s processor. Remember that the Global Dream Network doesn’t hold the assets and doesn’t encourage the exchange.
How Much to Join Global Dream Network?
Joining Global Dream Network is free, BUT you have to “give” to initiate your record or activate your account.
As referenced, you have to give them your name, the name of your sponsor, and your contact data when you register on the web. In addition, you have to give the organization your ledger or bank account data.
You can have more than one account. The Global Dream Network urges individuals to have more than one account. You can utilize one account to raise assets to grow your business or raise assets for your congregation or altruistic association. Peculiarly, Global Dream Network needs you to join two extra individuals for each new account.
What is Global Dream Network’s Compensation Plan?
Global Dream Network affiliates are separated into four unique levels. In case you’re a Level affiliate, you have to pay 350 South African rands and you’ll get R700 back. Redesign by paying R600 to benefit another R100.
Pay R600 to turn into a Level 2 GDN partner and get R2,400 back. Redesign by paying R900 to gain another R1,500.
Advance to Level 3 by paying R900. You can expect an arrival of R7,200. Overhaul by paying R2,000, and receive R5,200 consequently.
Contribute R2,000 to progress to Level 4. As indicated by GDN projections, you will benefit as much as R32,000
What I Don’t Like About Global Dream Network
By the way am not a member neither.
I’ve skirted the positive piece of Global Dream Network in light of the fact that truly, there’s nothing positive about this platform. Here are a portion of the reasons why you should avoid any individual who offers you this chance.
Site needs basic data about the owner, location, registration number etc
A most evident aspect concerning the Global Dream Network site is the absence of basic data. Despite the fact that the site looks perfect, proficient, and simple to explore, it is missing much basic data.
In case you’re searching for the individual (or people) who claims and work this site, at that point you’re not going to discover it here. Look to the base of the greeting page to check the stage’s physical location or contact email or telephone number, and the sum total of what you have is an impasse. There’s a chatbox at the lower right corner of the page in the event that you need to contact client care, yet there’s no confirmation that somebody will answer your questions.
The data about what the platform is and what it does were not clarified adequately in the site. There’s a FAQ area in the point of arrival, yet the data on the page likewise feels deficient.
It’s a money gifting scheme
It appears that Global Dream Network needs to be South Africa’s adaptation of GoFundMe. The issue is this endeavor is only a half breed adaptation of a money gifting plan.
Money gifting is a kind of fraudulent business model. In a common staggered showcasing plan of action, affiliates or partners normally have a few items or administrations to sell or advance.
In a money gifting plan, there are no items to sell or advance. You should simply to pay a participation expense and you’re in. In Global Dream Network’s case, there is no enrollment charge yet you are required to “give” a specific add up to actuate your participation (that is the reason it’s not really free).
Give to another part and be elevated to a higher level. Be that as it may, do you realize who you’re giving to and would you be able to confirm their accounts? Suppose that one GDN part is raising assets to manufacture a congregation. Keep in mind that anybody can join this stage, so it very well may be difficult to confirm their story. By what method will you realize that you’re genuinely giving to an admirable motivation?
Is Global Dream Network a Scam?
Lamentably, truly, Global Dream Network is a fraudulent business model, a pyramid scheme. Nobody realizes who claims the platforms, where it is situated in South Africa (physical office), or whether it enlisted or registered with the South African FCSA. There is additionally an unmistakable absence of data about what the platform offers and how it will have the option to satisfy the “givers” over the long haul. This is simply a kind of fraudulent business model that will disintegrate within the near future.
The decision? South Africans, Zambians should avoid this platform.
As of in Botswana, GDN or Global dream network was banned by the Bank of Botswana
In the press release, it stated;
BANK OF BOTSWANA
PRESS RELEASE ILLEGAL DEPOSIT TAKING ACTIVITIES
The general public is hereby informed that it has come to the Bank of Botswana’s (Bank) attention that there are some businesses conducting illegal deposit taking activities from members of the public, and such businesses have been determined to be pyramid schemes. Two such businesses identified by the Bank are Global Dream Network and Dynamic Cycle Network. Pyramid schemes and other illegal deposit taking activities are unlawful in Botswana; the nature of these operations constitute illegal deposit taking from the public, hence contravene Section 3(1) of the Banking Act (CAP. 46:04) (Act). This provision of the Act restricts transacting banking business and/or advertising for or soliciting deposits of money solely to licensed banks. It is also a criminal offence, punishable by law, for any person to promote the aforementioned illegal activities in Botswana, as that constitutes unfair trading practice. Section 5(1) of the Act empowers the Bank to investigate a person or entity suspected to be conducting unlicensed banking business and/or illegal deposit taking activities. If the investigations confirm the contravention, subject to other intervening measures, the activities shall be suspended forthwith. The Bank has accordingly directed the promoters of Global Dream Network and Dynamic Cycle Network, which operated from Plot 36222, Block 8, Gaborone, to cease and desist from transacting the illegal business schemes. The Bank advises the public not to participate in the peddling of pyramid schemes, and for anyone involved in such schemes to cease and desist from doing so. The public is further advised to report to the Bank any suspected illegal deposit taking schemes or pyramid schemes for investigation. In accordance with Section 3(4) of the Act, any person involved in illegal deposit taking or operating a pyramid scheme contravenes the banking laws and, if found guilty, is liable to a fine of P2 500 for each day on which the offence occurs and to imprisonment for five years. Furthermore, in accordance with Section 5(6) of the Act, failure to comply with the Bank’s order to cease and desist from such operations render the owners/promoters liable to a fine of P2 000 on each day on which the contravention occurs and to imprisonment for three years.
June 12, 2019 For further information, please contact:
Dr Seamogano Mosanako
Head of Communications and Information Services
Tel: 3606083Bank of Botswana
Read the pdf by clicking on the link below
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