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International Fraud Awareness Week 2022: 13 - 19 November
With more and more South Africans turning to the online space to search, research, and purchase, it’s not surprising that internet scams are on the rise.
While the words scam and fraud are often used interchangeably to mean the same thing, there is a subtle difference. From a legal sense, fraud refers to a broader and more serious crime, with scams being one type of fraud.
Dictionary.com describes a scam as “a deceptive scheme or trick used to cheat someone out of something, especially money.”
A common car sale scam begins with an advert on Facebook, email, or SMS.
Scammers place adverts for fake non-existent vehicles online at incredible prices to lure vehicle hunters looking for a great bargain. These advertisements often look legitimate, because they include a reputable dealership’s logo, as well as photos of the vehicle and the “seller’s” contact details.
When contacting the so-called seller, he or she comes across as helpful and genuine by answering all questions, and convincing the buyer of the deal. The clincher comes when these scammers pressure the victim by asking for a deposit or even full payment otherwise lose out on a great deal. Sadly, many people have lost years’ of their hard-earned savings to these criminals who simply vanish without a trace, and at this point, tracking them down is extremely difficult.
Whenever you buy a vehicle, new or used, you’re going to first take a good look at the actual vehicle and arrange to take it for a test drive. Only once you’ve tested and inspected the vehicle properly and are completely happy with it do you arrange to make payment. That is the basic process, whether you shop online or offline.
To help ensure you’ve covered all bases:
For a small fee, you can make use of vehicle valuation and verification sites like AutoTrader’s VehicleCheck, or apps like FirstCheck to perform all of the above and more. Worth the convenience and peace of mind vs. buying a lemon!
If you pick up just one of these red flags, walk away.
Many people fall victim to scams – they may be desperate to own an affordable car, or eager for what seems like a great opportunity not to be missed. Scammers are well aware of this and are experts at taking advantage of it.
One of the best defenses against being scammed is becoming an informed consumer.
Buying a vehicle is one of life’s biggest purchases you will make with your hard-earned money. Don’t let criminals walk away with it.
Disclaimer: This information is for educational, or entertainment purposes only. It must not be construed as advice, legal, financial, or otherwise. We do not make any warranties about the completeness, reliability, and accuracy of this information.
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