POLICE are calling on the public to be aware of con artists using the internet to defraud Cypriots out of their cars.
According to officials, a wave of fraud complaints has poured in from members of the public who have been stitched up by foreign nationals purchasing second-hand cars with fake cheques.
Most of the cons appear to be generated from Italy, and Cypriot police have alerted the relative authorities at Europol and in Italy. According to Interpol, this type of fraud is known as ‘online automotive fraud’.
A CID source yesterday told the Cyprus Mail that the victims, posting their second-hand cars for sale on the internet, would receive emails from ‘interested buyers’.
Other scams include the fraudster showing interest in an actual vehicle for sale on the internet and then using the delay in banks clearing cheques to scam his victim.
The “buyer” would explain that a client of his is interested in the car, but due to an earlier sale that fell through has a certified cheque for thousands more than the asking price and requests the seller send the balance via wire transfer.
When the seller agrees to the transaction, the buyer sends the certified cheque via express courier. The seller would then take the check to their bank, which makes the funds available immediately.
Thinking the bank has cleared the check, the seller would then follow through on the transaction by wiring the balance to the buyer. Days later, the check bounces and the seller realises that he or she has been conned.
But by that time, the money has long since been picked up and is not recoverable.
When a price was agreed, the buyer would send a cheque with a larger amount of money and the victim would in turn send him the car by ship and the change from the cheque.
One executive of an internet agency based in Cyprus yesterday told the Cyprus Mail that it is vital to tread carefully before buying and selling anything.
“As with everything online, it’s up to you to do the research before buy or sell anything”, said Sideshow Ltd CEO Alex Schleifer. “With websites such as ebay, for example, you have a rating and people can judge depending on how good your rating is as a seller.”
He added, “It is also important to use of a middleman. These services as offered on the big websites such as ebay and Amazon, which also offer protection for credit cards. Some websites also have people to investigate fraudulent claims.”
