Fraud Prevention Tips

[Zafar Ahmed]

Hello everyone,

I was digging Google to get some fraud prevention tips and should these. Please read carefully, those are some really good tips.

Be aware of two popular types of check fraud:

Overpayment:
A fraudulent buyer may offer to give you a check in an amount greater than your asking price and asks you to refund the difference. If you send a check back, the buyer has your vehicle and money and you’re left with a check that is likely counterfeit.

Counterfeiting:
A fraudulent buyer may offer to pay with an apparently legitimate bank draft, cashier’s check or money order. You deposit the funds which post to your account within 48 hours; however, up to 14 days later you’re notified that the check was counterfeit. The buyer has your vehicle and you’re responsible for refunding the bank for any withdrawn funds.

Your Best Protection:

1. Do not accept a check for more than your selling price
   
2. Never send a buyer money to refund an overpayment
   
3. Never accept third-party checks regardless of how “real” they seem
   
4. Even if the check appears legitimate and you’ve confirmed the funds are posted in your account, do not turn over your vehicle and title until the check has been cleared by the issuing bank
   
5. If you accept a check, ask for one drawn from a bank with a local branch and visit or call the branch to determine if it is legitimate
   
6. Avoid payment plans that seem complicated, such as one that requires multiple steps or paying through a friend or agent of the buyer
   
7. Confirm the buyer’s name, street address and telephone number and ask to see their driver’s license

Safe Buying Tips

Fraudulent sellers like to use email to lure unsuspecting buyers. They suggest using wire transfers and a seemingly legitimate escrow service. An offer of free shipping is a common ploy to speed up the sale.

Your Best Protection:

1. Be wary of vehicles that are selling below market price or offers that seem too good to be true
   
2. Avoid wire transfers – they are risky forms of payment because these funds are not recoverable or refundable
   
3. Be wary of international transactions, especially if the seller is suggesting free shipping
   
   
4. Consider using a reputable escrow service to secure the transaction and never use a company you haven’t investigated. Call its customer service line – if no one answers, don’t use the service
   
5. Try to obtain a physical address rather than a post office box
   
6. Send them an email to see if they have an active email address and be wary of sellers who use free email services where a credit card wasn’t required to open the account

Inquire about returns and warranties

Check with the Better Business Bureau from your seller’s area

1. Make sure the transaction is secure when you electronically send your credit card numbers
   
2. The safest way to purchase items via the Internet is by credit card because you can often dispute the charges if something is wrong

Source here.

regards,
Zafar Ahmed

[content_provider]

I'd also like to add some useful tips for fraud prevention:

1. Keep your credit card PIN in a safe place at home, instead of taking it with your credit card together.

2. Surely save a few copies of all the credit card data you carry every day and keep it in a safe place.

3. Never provide the confidential information regarding your credit card via email.

4. Remember that fraud-scam emails usually address to the internet users with such general words as "Dear customer", but not with your name. And besides, they call you to act promtly!

[iGuides]

1. Keep your credit card PIN in a safe place at home, instead of taking it with your credit card together.

2. Surely save a few copies of all the credit card data you carry every day and keep it in a safe place.

Agreed, also, avoid having such sensitive information in electronic form, try saving in your own memory (brain) or on piece of paper will do.

[jjalapin]

Very useful tips .Thanks content_provider and Admin

[ggoldfish]

Thanks for the tips ,content_provider and Zafar Ahmed.

[mikeymouse]

Nice tips !Thanks for sharing !