Auto Auction Fraud Alert

The IC3 reported recently that they have received a significant number of recent complaints regarding Internet auto auction fraud. The scam involvesthe sale of automobiles that are said to be located outside of the United States. Potential buyers are told that they must pay for these auctions using Western union or another type of wire transfer service. Once the buyer pays they obviously do not receive their vehicle nor is their money recoverable.

The IC3 has cautioned all potential buyers to do considerable research before purchasing an automobile on an auto auction website, especially when the vehicle is listed as being outside the U.S. They also suggest only using money transfers that are handled through legitimate escrow service.