Sellers Beware: No legitimate company will offer to pay you by arranging to send you a check and asking you to wire some of the money back. If you receive this offer, it is a scam! Read all about Internet SCAMs below.

We constantly monitor our site and cancel ads that meet the above criteria but sometimes ads slip through our review. If you find an ad of this type please email us immediately to: arcaromark@yahoo.com
 

Internet scams are a dime a dozen. Most online scams have origins in the off-line world and con artists and frauds have brought them on board the net.

Many Internet scams go unreported because the victim is embarrassed that they were taken and often do not know the true identity of the fraudster.

Some of the more common scams are:
• Auto Scams
• EBay Scams
• Lottery Scams
• Pyramid Schemes
• Ponzi Schemes
• Credit Card Scams
• Contest Scams
• Nigerian and Russian Scams

The focus here is Auto Scams, though other vehicles are included, such as motorcycles, trucks, and snowmobiles. Regardless of whether you’re buying or selling a vehicle there are a few things you should look for because hundreds of people have been scammed.

You’ve placed your auto for sale using the Internet and are excited that you have an offer. Often the scam will work like this; you receive an offer for the amount that you are asking, no hassle, no haggle. The buyer is actually going to give you what you have asked for. Of course you are asking for an Official Bank Check or Cashiers Check, as some institutions refer to them, as payment.

You receive the check in the mail and it happens to be for more than what the selling price was for. Why would this be, well this is the guts of the scam. The buyer contacts you and tells you to deposit the check into your account and to send them BACK the difference of the selling price and the amount of the check. These amounts can range from $2,500.00 and up. The fraudster usually gives you a lame reason for the check being the wrong amount and attempts to talk in circles so you are confused and not really sure why your doing what they ask. You are so glad that you sold your vehicle and you did receive an Official Check so what could be wrong? You deposit the check and request an Official Check for the difference and send that check off to the buyer. Several days later you are notified from your Bank that the "Official Check” you deposited has been returned as Counterfeit or Altered, and you are responsible for covering the returned check. In some cases you have not shipped your vehicle yet, or it can be retrieved, but your still out the money you sent to the fraudster. If your thinking that you can stop payment on the Official Check that you sent to the fraudster, think again, usually these checks are cashed immediately and did you know the only legal reason to stop payment on an Official Check is if the check has been lost or stolen? That is why the fraudster insist that the check you send to them be an Official Check or Cashiers Check.

If you have received an Official Check or Cashiers Check for the sale of your vehicle there are some things you should look for to help prevent you from being the victim of negotiating a fraudulent Bank check.

Counterfeit Checks are probably the easiest to create, but may be a little harder to detect with today’s technology. A counterfeit check may be a copy of a genuine check, copied on a printer or copy machines. A counterfeit check may also be an actual check, printed with a home computer and software program, using someone else’s information.

Things to look for:
Counterfeit Checks

• Misspelled words on the face of the check
• Borders on the check appear uneven
• Magnetic number line is uneven/printed too low or too high on the bottom of the check
• No Bank logo or Corporate logo, or if there is, it does not appear to be crisp and clear
• The check # in the upper right hand corner does not match the check # in the magnetic line on the bottom of the check
• Look at the City or State where the check was issued from, is that the location where you are sending your vehicle or where the purchaser said they live
• Blurry or fuzzy printing. Good checks are clear. If blurry, then it could indicate that it has been photo copied or scanned.
• Raised numbers or letters. Check should be smooth.
• Always verify the check before depositing it to your account. Do not call the telephone number on the face of the check, if one is provided, use an independent source to obtain the telephone number, such as the yellow pages or Directory Assistance. There are also online verification of telephone numbers searches such as “Reverse Lookup”.

Things to look for
Altered Checks:

• As with counterfeit checks, each of the items listed above can be said of a
Altered check but you should also look at the PAYEE line of the check
• Does there appear to be any type of erasure, or white out on the payee
line. If unsure, hold the check up to the light, usually erasures or white out
can be detected this way.
• Look at the dollar amount of the check, here again you are looking for
changes in the amount.
The difference between an altered check vrs. a counterfeit check is that an altered check is usually a legitimate check that has been issued from the financial institution listed on the face of the item, however, it was not issued to the payee or for the dollar amount that you are seeing. When you contact the financial institution that the check is drawn on you should be asking the following:

• Are the any stops or holds on this check #
• What is the payee name on the face of the check
• Has it been reported lost
• Do your records show the check was issued for this dollar amount

Spacing should always be consistent thought the check so examine it carefully. The type should all be of the same height, color and size, if not, you should be suspicious.
Official Bank Checks or Cashiers Checks are rarely ever handwritten.

Your Protection:

After reviewing the above if you are still not certain, take the check to your financial institution. Do not deposit the check into your account, ask your Bank to send the item “for collection”. Your account will be credited only when the funds are received by the financial institution that the check is drawn on.

Wire Transactions:

Are wire transactions any safer? That really depends on the circumstances. If you are selling a vehicle and the buyer offers to send you money via wire you are going to have to provide that person with your bank routing number and account number, they already have your name and most likely your address. Make sure that you have made a positive identification on the individual before considering a wire transfer. Talk to your banker about how money should be transfered and what precautions should be taken.

Should your account or identity be compromised you should contact the following credit reporting agencies immediately:

Equifax – 800-525-6282 or www.equifax.com
Experian – 888-397-3742 or www.experian.com
TransUnion – 800-680-7289 or www.transunion.com

For additional information regarding Identity Theft you may also go to The Federal Trade Commission’s Identity Theft Wed Site www.consumer.gov/idtheft

Also, you may want to contact the FBI or Secret Service to report any fraud attempts

Remember the following:

* A true buyer is not going to send you a check or wire for more money than the agreed selling price, does that even sound right to you? BEWARE: IF SOMETHING IS TO GOOD TO BE TRUE, IT USUALLY IS.

* Your Bank will pursue recovery from you by any and all legal measures available to them in the collection of this debt.

There are dozens of Internet Sites that can provide you with information regarding scams and frauds. Just type in Internet Scams and see what pops up!