Avoid Online Escrow Fraud

One of the methods of online car buying fraud is online escrow fraud. There are a number of escrow sites online which offer profitable terms both for car buyers and sellers. Most of these sites are really helpful; however there are some fraudulent ones among them as well. Here are some tips to avoid scam escrow services and find a reputable auction escrow service:

•    Beware if the website offers incredibly good deals or requests information that does not concern the sale.

•    Investigate the track record of the escrow companies before making your final selection. Use Better Business Bureau as your main source and find out whether the company is a BBB member or not.

•    Domain names that end in .org, .biz, .cc, .info, or .us or were registered a few weeks ago (use “Whois” to find the date of registration), are warning signals.

•    If the grammar of the website is poor, then most likely you deal with scammers.

•    If the website of the escrow company does not involve such information as where the business is located or how to contact the company in general, then beware; this is a scam sign.

•    If a telephone number is provided, call to see if you can speak to a real person. In case a generic voice mail asks you to leave a message, do not waste your time in vain.

•    Find out whether the service is licensed and try to confirm it with appropriate state agencies. Avoid companies that are abroad.

•    If the online escrow service asks to make a payment to an individual or an agent, rather than to a corporate entity, then it is most likely a scam. Also, a legitimate escrow site will ask you to wire money from your bank to their bank, and provide you with a routing number and account number for their financial institution instead of asking you to do a person-to-person money transfer using Western Union.

If you feel that you are a victim of online car sale fraud, contact a reputable car fraud attorney for help and advice.