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BBB just released an update to a 2020 study about online car buying scams. Starting in 2020, consumers reported that scammers were taking advantage of the COVID-19 pandemic to list fake vehicles ...
1. The Must Sell Now Scam. The FBI recently updated a longstanding warning to be on the lookout for a scam that cost car buyers more than $54 million between 2014-2017.
The FTC’s “Combating Auto Retail Scams” (CARS) rule was supposed to take effect in July of 2024, but due to a pending legal challenge, the Final Rule’s effective date is delayed until ...
Bait-and-switch is a form of fraud used in retail sales but also employed in other contexts. First, the merchant "baits" the customer by advertising a product or service at a low price; then when the customer goes to purchase the item, they discover that it is unavailable, and the merchant pressures them instead to purchase a similar but more expensive product ("switching").
VIN cloning or car cloning is a practice of using a vehicle identification number (VIN) from a legally registered car to hide the identity of a stolen or salvaged vehicle. [1] The procedure involves replacing the serial plate of a stolen or salvage repaired vehicle with a plate containing the number of a validly registered vehicle of similar ...
An exit scam is a confidence trick, con job or fraud, perpetuated under the guise of a legitimate business, that ends when the originator absconds with the funds contributed by participants. [1] When a business entity pulls the rug and stops shipping orders while receiving payment for new orders, it could take some time before it is widely ...
Watch out for this wild Southland car scam: Suspects rent vehicles, sell, steal back, return to rental agency. Grace Toohey. February 27, 2024 at 7:56 PM. ... USA TODAY Sports.
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