Online Auction Scams
There are numerous scams at online auctions. The list of online auction scams is quite shocking. Some top online auction scams include:
1. Escrow Scam: The seller requests that you use a certain Escrow Company to pay for your item. But, what you are unaware here is that the escrow service is a fake in cahoots and you are made to part with your money.
2. The Phantom Seller Scam: The phantom seller is someone entailed with a great (fake) bid history. Any attempt to check on to this seller’s history will only show you praises about the seller. What you are again unaware is that all the praises have been posted by the seller and his friends only. Once again you are cheated out of your money.
3. The Fake Cashier’s Check: This scam indeed bears a strong resemblance to the famous ‘Nigerian Letter Scam’. You get an order from someone, usually outside US, who wants to pay by cashier’s check. You deposit the check, the bank affirms clearance of the check and you send the item. Later however, you find out that the check actually didn’t clear and you are held responsible or the balance.
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03-15-2008, 08:50 AM
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