I just heard a story about a new type of scam going around the Internet and can easily imagine someone trying this on CoinTalk. The scam involves getting the buyer to send money for the purchase to an "escrow" account, only the escrow company is a fake one, and from what I've heard they've been able to take people for hundreds of thousands of dollars. There are legitimate escrow services that facilitate online purchases. I personally have used Escrow.com on a number of occasions. Yes, the fees are somewhat higher than you'd expect with Paypal, or wiring the money directly, but if you're dealing with a large dollar amount and someone you don't know, then a legitimate escrow service can be a life saver. An unknown escrow service should be a huge red flag for you. The bottom line is, be careful with your transactions, there are a lot of bad guys out there on the Internet and we are not immune here at CoinTalk.
I just heard a story about a new type of scam going around the Internet and can easily imagine someone trying this on CoinTalk. The scam involves getting the buyer to send money for the purchase to an "escrow" account, only the escrow company is a fake one, and from what I've heard they've been able to take people for hundreds of thousands of dollars. There are legitimate escrow services that facilitate online purchases. I personally have used Escrow.com on a number of occasions. Yes, the fees are somewhat higher than you'd expect with Paypal, or wiring the money directly, but if you're dealing with a large dollar amount and someone you don't know, then a legitimate escrow service can be a life saver. An unknown escrow service should be a huge red flag for you. The bottom line is, be careful with your transactions, there are a lot of bad guys out there on the Internet and we are not immune here at CoinTalk.
Someone tried to pull this exact scam on me a few years ago when I sold a car on CraigsList. They supposedly sent the money to a phony escrow company and I was supposed to send them the car. I received all kinds of emails and a link to the account showing the money was in the account. A little research showed the escrow company was a sham. I believe eBay also recommends Escrow.com
O have been fortunate and not had any large transactions that require escrow co's only time I used them was when I bought my house... But thanks for the warning about what's happening and I for one will be watching for it... Again Thanks Grampa:hail: :thumb: :thumb: :thumb:
'Tis a shame, Davis. 'Tis a shame. Genius is one percent inspiration and ninety-nine percent perspiration. Albert Einstein
I agree. Its one of the downfalls of internet escrowing, which by itself was a good idea, the rise of sham escrow companies. Too bad, since it could have been a great boon to individual to individual sales. To reiterate Peter's warning, though. These scams are still around. Always do your due diligence, or better yet just go through a good seller.
Good Karma and protection against internet scams, now only $1. Please contact me directly for paypal payment address. Avoid disappointment and future regret. Contact me now and send that dollar. A few question for the brass... How many of the 42 000+ members are active? How many of them are robots? Do the robots have paypal accounts?
