BBB Consumer Alert: Phony Escrow Companies Defraud Car-Buyers Out of Thousands

"Internet thieves are now using escrow service fronts with some new twists to steal money and personal identities. The scope and cost of Internet fraud is stunning. For 2007, the Internet Crime Complaint Center processed 219,553 complaints and the Federal Trade Commission (FTC) reported that nearly $526 million was lost via Internet fraud. FTC also reports that 28 percent of online fraud victims sent funds to scammers via hard to track wire transfer services – a favorite tactic of fake escrow services."


$526 MILLION.........that is ridiculous. Click HERE to read the full article.

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