Crowd funding for Tragedies- Is it being misused

Crowd funding for Tragedies- Is it being misused

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Crowd funding for Tragedies- Is it being misused
Crowd funding is a new concept that is taking online in a big way. Lately we see that every one has access to create a crowd funding requests from business to tragedies.

In this case, I would like to talk about crowd funding requests that is being used for tragedies? In USA we have seen that whenever a tragedy is struck as a natural calamity, or some individual is in trouble, somebody dying young due to some disease, or dying in an accident or natural death or similar, the next thing that comes in the social media or emails is a request to help this person in need using crowd funding.

Now if it is a Nationally recognized organization or some credible person creating a crowd funding request to get help for the tragedy, it can be understood. But the moment a tragedy is struck either naturally or individually, you see lot of crowd funding requests coming your way. How do you determine which one is real?

1. How do we determine that the person is authorized to collect the fund in behalf of the natural tragedy or Individual.

2. How do we determine that the funds raised for a cause are being used for the purpose they are collected & right amount is raised.

3. What kind of checks does the websites felicitating the crowd funding perform to make sure that the authenticated person is opening the request.

4. What kind of checks does the websites felicitating the crowd funding have to see that the money is used for the right cause.

5. Is this cause really require crowd funding, because most of the people are covered by insurance or have the capacity to handle on their own.

If some of these checks are not established & credibility in crowd funding not established, it can be easily misused by the people for their own benefits & people may stop paying for the real cause.

Another thing i see is the amount that needs to be raised for a particular cause, some put the amounts of $500,000 or $350,0000, where the max requirement is only $50,000.

Now donating or helping for a cause is some thing that we all need to do as much as we can, but our hard earned money being misused can deter us from really helping the genuine cause.

The only answer I get is - Don't donate or help if you do no find the cause genuine or the person genuine? My question is "what are the parameters to determine that".

Please comment so that everyone has some ideas of what needs to be looked at when doing crowd funding.

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