07-30-07, 10:51 PM
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Tips On How To Avoid Online Escrow Fraud
Tips On How To Avoid Online Escrow Fraud
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A Google - yahoo - dogpile or - clusty search is your first step in determining the legitimacy of escrow companies or sites.
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RED FLAGS What to look for: - Listed - Is site listed on Scam Fighting Sites
- Be Wary of "Safe" and "Secure" Online Escrow Companies
- Scammers love to use those words "safe" or "secure" when naming scam sites. A dash in an escrow company's name, such as secure-escrow.com, is another red flag. The dash seems to show up in many phony company names.
- Avoid escrow company sites with domain names ending in .org, .biz, .cc, .info., or .US.
Search Tools Whois - When was domain registered
- Whois lookup and Domain Tools Name Search
- DNS Stuff: DNS Tools, DNS hosting tests, WHOIS, traceroute, domain name tools.
- KarenWhois
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Like fake check scams, scammers hunt for victims. They scan newspaper and online advertisements for people listing items for sale, and check postings on online job sites from people seeking employment. They place their own ads with phone numbers or email addresses for people to contact them. And they call or send emails or faxes to people randomly, knowing that someone will take the bait.
DO NOT TAKE THE BAIT
The easiest and best way to avoid becoming a victim of an online escrow scam is to call the California Department of Corporations toll-free at 1-866-ASK-CORP (1-866-275- 2677) or your state Department of Corporations or Department of Financial Institutions or your state Division of Corporations usually found with in YOUR STATE (i.e. CA, NY, AZ, KY, MO, MI, UT, TX, LA, etc) to make sure the escrow company you plan to use is properly licensed.- Always verify the credentials listed on sites even though these credentials are easily copied. Use the following sites Better Business Bureau, VeriSign Secure, TRUSTe,
- Don't Be Talked Into Using A Particular Escrow Service - Be suspicious of using an escrow service recommended by an online buyer or seller. Be sure to scrutinize the site carefully before using the service. When the seller directs you to an escrow site of their choosing, that's a warning flag. Don't ***ume that because a company has a website that it is legitimate.
- Never disclose financial or personal information like your Social Security number, credit card number, or bank account information until you have verified that the online escrow company you are using is properly licensed.
- Watch out for escrow company sites that don't have an address and phone number listed. If the site does list a phone number, call the number and be sure you speak to a live person. A generic voice mail is a sign that the company may be fraudulent.
- Send the escrow company an e-mail question or Call Customer Service
- If you don't receive a response, don't do business with them. Not being able to get a live person on the phone is a big red flag. If you call and get a fax or a generic voice mail that says leave a message, than it's probably a scam. Don't use any escrow service that doesn't list an address or phone number. Get on the telephone and converse with folks and verify their credentials."
- Sometimes a phony escrow company Web site can be detected by its sloppy content, with spelling and grammar errors and inconsistent information. Other times, the site's information may have been copied from legitimate escrow company sites.
- Find out how the online escrow service processes transactions. Steer clear of sites that don't process their own, but require users to set up accounts with online payment services instead. Legitimate escrow companies don't use person-to-person money transfers like Western Union or MoneyGram or direct you to send your payment to an individual rather than a corporate entity.
- Fake escrow company sites often display logos from the Better Business Bureau, VeriSign Secure, TRUSTe, and even the Internet Fraud Complaint Center. Check to make sure the escrow company really is endorsed by these organizations.
- Be Wary of A Seemingly Terrific Deal. Scammers post online cl***ified ads and offer items via online auction with very low prices. Remember, these so-called "deals" are just the hook to get you to use a phony escrow company site.
Last edited by ScamBuster; 04-10-08 at 10:43 PM.
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