Vehicle scams are on the rise. Here's how to avoid falling victimSouth African banks are warning their customers about a marked increase in vehicle purchase scams. Criminals place adverts for fake vehicles online at hugely discounted prices to lure in buyers hunting for a great bargain. Source: Unsplash Sameer Kumandan, managing director of SearchWorks, says South Africans are turning to online content for everything from comparing prices to doing more in-depth research, particularly when it comes to long term financial commitments such as buying a car. According to reports, fake vehicle adverts are relatively sophisticated and usually include photos to match the vehicle description with contact details of the so-called seller. Fraudsters appear to be genuine sellers by being willing to provide additional information together with a convincing explanation for the massive discount. Criminals then pressure buyers into making an urgent deposit or full payment in order to secure the vehicle. Once payment is made the scammer disappears and the buyer is left without a vehicle and their hard-earned cash. “It is important that consumers exercise extreme caution when engaging with unknown individuals online and use whatever means at their disposal to verify the details of the seller and the vehicle being sold. Buying a car is a serious financial commitment and is a process that shouldn’t be rushed,” says Kumandan. “The best defence against a scam is an informed consumer. By obtaining an up-to-date vehicle report, potential buyers can fact-check all information provided by the seller. The information can also assist the buyer in spotting a suspicious deal and avoid falling victim to criminals,” notes Kumandan. How to avoid falling victim to rising vehicle scams:
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