Identifying Fake job Opportunities


Monday November 13th 2017 will go down as a very sad day for many young and ready to work youths who got conned into believing that they had got job offers with Java House in Kampala, Uganda.

The unemployment situation in Uganda is so dire that it has led to lots of frustrations among many youths. Most are either unemployed or under-employed. I know of a Business Administration degree holder who is woking as a brick layer at a construction site. What hurt most about the Java house ordeal was the word making rounds that the applicants had parted with nearly UGX 1 Million shillings to be considered.

This same frustration is the one leading a number of other youths to blindly opt for jobs in the Middle East under suspicious arrangements only to end up as slave labour or even sex peddlers.

In all this, how does one identify that a job opportunity is most likely fake? I share some of the telltale signs that should flag off suspicion in your mind in the event that a job offer is being made to you.

  1. Money Payment: Any job opportunity where you are urged to part with money is most likely fake. They might try legitimising the payment in various ways but genuine recruiters never ask money from the applicants since they are usually paid by the company contracting them to recruit on their behalf.

  2. Offers of an abnormal salary: When presented with an offer whose salary promise is way above the average market rates, always think twice. Let us take the example of a front desk officer (or receptionist) who on average earns between UGX 300,000/ and UGX 600,000/. For someone to tell you that there is an offer for a similar job that is giving a starting salary of UGX 2,000,000/, a red flag should immediately go off in your mind.

  3. Sounding too good to be true? Whenever you see an opportunity that sounds too good to be true, then probably it isn’t. You might see an advert stating a seven figure salary, all sorts of benefits like a car, life and health insurance, housing allowance, communication allowance etc, all these for an entry level graduate job. Most likely, this is a red herring. Do not waste your effort pursuing such since the next level might be a request for you to pay some money for special consideration.

  4. They contacted you: There are cases where you receive a call or email with an offer for a job. You have no clue about the company in question but they seem to know enough about you. Before blushing and rushing to dance to their tunes, it is important to find out how they got through to you. If you are an experienced professional with an impeccable track record, it is very likely you could be easily contacted. However, if you’re a fresh graduate with hardly no professional record worth talking about, take a step back and ensure that you’re not being led into a job scam aimed at ripping you off.

  5. Instant Job Offers: This could come in the form of an email or even after a staged interview. Take a step back my brother/sister, things just do not come easy lately. As the next steps are spelt out to you, analyse them and see if they are typical of a con being shoved your way. Most likely, after such a job offer, you might be requested for some processing fees which you might gladly pay, afterall you’ve got the job. If they do this to 100 interviewees with each surrendering processing fees of UGX 20,000/ they will casually walk away with UGX 2,000,000/.

  6. Unclear Job Requirements: Job offers that are never specific in their requirements are always aimed at attracting as many applicants as possible to apply and these are usually scams. The job might not require experience or even a level of education and yet at the same time offer a very abnormal salary and benefits. This smells like a scam from the word go. Flee!!!

  7. Adverts printed on photocopy paper and pinned on roadside poles or walls of buildings: The majority of such offers are scams with the target of the scammer being the application fees that are usually charged. They have a tendency of taking applicants through a series of interviews while demanding for payment at each level. Their fees are usually pocket friendly to the individual but because they tap into a very big pool of applicants, they earn lots.

  8. You’re called at odd hours: Professional recruiters are not likely to engage you outside working hours. When you are called say at 10pm in the evening, or on a sunday over a job opportunity, those are red flags already. Do not let your desperacy mask these red flags. Tread carefully.

  9. Abrupt change of interview location: A few years back, a young man called me and wanted directions to a place he’d been called to for an interview. He narrated to me how the recruiter had called him early in the morning and given him directions to an alternative location. A google maps search indicated that the new interview location was in a very questionable neighbourhood. I advised him to abort the trip. This young man probably survived being robbed or even a kidnap. The moral of this story is that never proceed for an interview whose venue has been altered at the last minute.

  10. Interview Location: What does it look like? Is it the kind of place that inspires confidence? Is it an established office that you are likely to find if you returned after a month? A while back, there was a story of a young lady who went for an interview which was conducted in a home. Unfortunately, she was raped in the process. Be on the look out, avoid being led like a stray sheep, you just never know the motives of the recruiter.

  11. Smooth Talking: When confronted with a smooth talking recruiter, do not allow to be swayed by their talk, there-in lies their trump card. They usually string up a series of lies that easily give you a false sense of comfort. Just ensure that you do not abandon your sense of basic reasoning as you interact with them and do not be shy to ask the tough questions, even when they might create some discomfort.

  12. Secrecy: When a job offer presented to you demands that you keep its details a secret, run immediately if you can. Crooks usually in an effort to keep their illicit activities under wraps tend to utilise secrecy as a weapon. By the time you realise you’ve been ripped off, they have disappeared and can hardly be traced. This might have been the case with the Java House applicants.

Take great care as you look for that job opportunity.

James Wire is a Small Business and Technology Consultant based in Kampala, Uganda.

Follow @wirejames on Twitter.

Email lunghabo (at) gmail (dot) com

Cryptocurrencies – What is Bitcoin?


For those that are digitally alert, no day passes without you hearing about Bitcoin, Onecoin, Litecoin, Ethereum, Ripple among others. This is a follow up article on an earlier one I wrote introducing blockchain and cryptocurrencies. It is helpful to first understand blockchain before diving into the world of cryptocurrencies.

What is a cryptocurrency? This is a digital currency that uses cryptography for security.

Digitally, cryptography involves creating written or generated software codes that allow information to be kept secret. It converts data into a form that is unreadable for an unauthorised user, thereby enabling it to be transmitted without fear of an unintended recipient understanding it hence enhancing its integrity.

What is a currency:

  • A Medium of exchange – It is a more efficient way of exchanging products and services as opposed to barter trade.

  • A Store of value – A mechanism by which wealth can be saved and retrieved in the future with some predictability e.g gold, silver, reserve currencies, stocks, bonds etc.

  • A Unit of account – A standard measurement of the value of goods, services, assets and other economic activities e.g. the value of a soda versus ten passion fruits.

A journey through history shows that we have traversed from barter trade all the way to the current paper money as depicted in this image.currency_years

Digital money has been making its mark over the past few decades. As opposed to cryptocurrency, digital money is defined as any means of payment that exists purely in electronic form. Mobile Money would be an ideal candidate in this regard. The reason it can’t be called cryptocurrency is the absence of cryptography.

Cryptocurrencies can be characterised by some or all of the following attributes;

  1. Entirely virtual currency created by computer code.

  2. Rely on the use of cryptography to effect highly secure transactions as well as the creation of new units of the currency.

  3. Rely on a publicly available ledger to keep a record of transactions undertaken.

  4. Use a wallet (defined later) to facilitate transactions.

  5. They are highly decentralised in nature of operation as a result of most of them depending on the blockchain technology (this was covered in the previous article).

  6. Due to the dependence on blockchain by most cryptocurrencies, transactions aren’t easily reversed once approved.

  7. User identities are protected. The public ledger maintained never bears any detail that can uniquely identify a user.

Traditional monetary systems entail Governments issuing money which is then controlled by a Central bank eventually getting to the users through the commercial banks. This implies that there is heavy control by the issuing authority of the currency.

Enter cryptocurrencies, unlike the traditional monetary systems, they are fully decentralised with no central government control. Think about it as community generated currency though this time in a digital format. Money is what it is because people agree to it as a medium of exchange. Hence, any community of people that come together and agree to create their own currency and trade in it can validly create a currency.

Enter Bitcoin

Bitcoin is a cryptocurrency that uses decentralised technology for secure payments and storing money that doesn’t require banks or people’s names. BC_Logo_

It was the first cryptocurrency to be formed in 2009 and has since gone on to be the most widely used or preferred. It has no government backing, no delays when sending money as well as minimal transaction fees if any (due to the elimination of the numerous third parties).

Some terminologies to be familiar with before we proceed are:

  • BTC: A common unit used to describe one bitcoin, just like one US Dollar.

  • Bit: There are 1,000,000 bits per bitcoin, 1 bit = 0.000001 BTC.

  • Bitcoin Wallet: This is where you store your bitcoins. It is a program that manages your bitcoin addresses and allows you to transact. In otherwords, it is a collection of addresses and the keys that unlock the funds within.

  • Bitcoin Address: Is also regarded as the public key, it is like an email address. You issue this to anyone you expect to receive payment from. Always advisable to create a new one for each transaction. You are at liberty to have as many as possible.

  • Private key: Every public key has a private key associated with it. It is a secret piece of data that proves your right to spend bitcoins from your wallet. Kind of like a password.

  • Bitcoin Client: Is the software application or web service managing your wallet and addresses. It connects a user to the Bitcoin network.

Ownership of bitcoins is established through digital keys and signatures. The keys are generated locally using the Bitcoin Client then stored in a bitcoin wallet. These keys then allow the user to sign transactions thereby providing proof of ownership of the traded bitcoins.

Be very careful who generates your private keys and where they are stored. Read more on Bitcoin security !!!!!

bitcoin-work-1

Types of Bitcoin Clients

  1. Full Client: This is a client that stores the entire history of bitcoin transactions, manages the user’s wallets and can initiate transactions directly on the Bitcoin network. It never communicates the private keys and stores them locally.

  2. Web Client: Is accessed through a web browser (kind of like Gmail) and stores the user’s wallet on a wallet owned by a third party server. It relies entirely on third party servers.

  3. Lightweight Client: It stores the user’s wallet but relies on third party owned servers for access to bitcoin transactions and the network. Just like a full client, it stores the private keys locally.

  4. Mobile Client: Largely used on smart phones, it can operate as a full client, lightweight client or web client. Some mobile clients can be synchronised with a web or desktop client, providing a multi-platform wallet across multiple devices, with a common source of funds.

We noted earlier that the “Keys” are very crucial towards the security of your bitcoins. How you store them is determined a lot by your choice of Bitcoin wallet and client.

Local Storage – If you have a good computer and take steps to avoid intrusion or exposure, this option is fine. However, if your computer is hacked into, crashes and you have no backups, or you forget your passwords, then most likely your private keys and bitcoins will be lost forever. You trade off convenience for security in this case.

Remote Storage Reliance is on a third party. If their security is compromised or they act maliciously, your bitcoins are lost forever. Third party exchanges are more likely targets for intruders, when compromised, you are likely to lose your bitcoins for good. The biggest offer here is exchanging security for convenience.

Feel like getting started with Bitcoin? Get more details here.

Bitcoin’s value is increasing in leaps and bounds by the day, the cryptocurrency is gaining lot of credibility in mainstream financial circles. From Europe to Asia and the Americas, restaurants and various businesses are embracing bitcoins as a form of payment. By October 2016, there were 1,587 Bitcoin ATMs worldwide. Virgin Galactic, a Space Tourism company accepts bitcoin payments from customers. The University of Nicosia in Cyprus was the first ever such institution to accept school fees payments in bitcoins.

Over the past one year i.e. November 2016 to November 2017, the price of a bitcoin has early increased tenfold. From US$ 706 on the 14th of November 2016 to US$ 6,863 as of the 15th of November 2017.

bitcoin_1year

Bitcoin price growth over a one year period

If you want to familiarise yourself more with cryptocurrency trading, set up an account. I used Coinbase to set up mine and it gives me rates in Uganda Shillings equivalent for Bitcoin, Ethereum and Litecoin. All these are different cryptocurrencies one can trade in. The snapshot below shows that within a span of one month, the price of one bitcoin currently at UGX 25,069,624 increased by 22% reflecting a net gain of UGX 4,540,169.

Screen Shot 2017-11-15 at 10.25.17

A typical Coinbase account

You may be scared by the cost of a bitcoin being at UGX 25 Million. That shouldn’t bother you so much. You don’t have to buy an entire bitcoin to trade. Remember as earlier noted, a bitcoin is divisible into 1 million bits. This literally means that at the going rate, 1 bit costs UGX 25. So, with UGX 100,000 you could literally buy 4000 bits which is the equivalent of 0.004 bitcoins (BTC).

[Begin Update]

After getting feedback from readers about Coinbase not supporting operations in Uganda, I did some further research and came across SpectroCoin . According to the website, they have support for cryptocurrency trading in Uganda complete with Mobile Money integration allowing you to purchase as low as UGX 500/. This is not an endorsement of their service but like any other venture, I advise you to tread very carefully to avoid making mistakes.

[End Update]

The world is entering a phase of cryptocurrencies, much as there might be a lot of doubt cast upon this trend, the reality is that it’s a matter of time before they too gain credibility just like any other innovations that were derided in the past. Should you be considering them as a form of investment? That is another question that shall be addressed separately.

I hope this has been helpful. Feel free to ask questions in the comments section.

James Wire is a Small Business and Technology Consultant based in Kampala, Uganda

Follow @wirejames on Twitter.

Email lunghabo [at] gmail [dot] com

Other Articles:

Simplifying Blockchain and cryptocurrencies for a Ugandan

Other Sources:

  1. http://www.ironlotuspt.com/images/content/bitcoin-work-1.jpg

  2. https://coinlist.me/wp-content/uploads/2016/12/how-does-bitcoin-work.jpg

  3. http://www.pulselive.ug/bi/finance/finance-bitcoin-just-hit-an-all-time-high-heres-how-you-buy-and-sell-it-id7457611.html

  4. University of Nicosia, Msc in Digital Currency notes.