How to Spot Escrow and Shipping Scams
Internet fraud is a lucrative business that at one point managed to swindle $526 million from American consumers and businesses in one year. Escrow and shipping scams are just a variation of this serious issue that seems to constantly evolve and emerge in a different disguise to steal the identity, finances and property of customers who are unknowingly putting their trust in con artists.
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Instructions
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Exercise extreme caution when you conduct business through a website with a stranger. Escrow and shipping scams occur when a consumer conducts business with a fraudulent escrow service.
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Identify escrow and shipping scams by launching a careful investigation whenever you conduct business through a website. If you want to purchase an expensive item and you find it on a website for an incredibly low price, proceed with caution. Online auctions and classified ads are a breeding ground for this type of fraud.
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Suspect a seller that insists you use a specific escrow service. While the escrow service may have a website that has the appearance of a legitimate business, it can be fake or an imitation of a real and credible organization. Scammers are experts at replicating authentic sites and earning the trust of consumers for the mere purpose of stealing valuable resources.
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Protect yourself from a fraudulent business deal by verifying the validity of the escrow service through other businesses such as government watchdog organizations. Obtain licensing information and confirm it through the state agency where the business claims to reside. Find the customer service phone number for the escrow service and call the number to confirm its existence and inquire about corporate identity theft.
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Refuse to do business with an overseas escrow service or with an individual who acts alone, but claims to represent a business. Terminate the business agreement if you're unable to verify the legitimacy of the escrow service or if the seller insists you use a person-to-person money transfer like Western Union to pay for the item you want to purchase.
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