TruStage Risk Alert: Fake Auto Dealers Lure Buyers with Spoofed Ads

Law enforcement agencies are issuing warnings about a growing fraud scheme that lures car buyers into sending money for a vehicle, sight unseen, to fake auto dealers. Cloned websites and stolen photos trick buyers into sending money for cars that don't exist. According to a recent TruStage Risk Alert, the scam can be very convincing, featuring cars listed for sale on Carfax.com, Edmunds, and Facebook Marketplace, but the fraudster creating the fake online ad does not actually own the vehicle.

For members considering buying a vehicle online, TruStage recommends watching for these red flags:

• Price seems too good to be true
• Limited or poor-quality photos
• Mismatched details, mistakes and typos

To read the complete list of red flags, and risk mitigation recommendations to share with credit union members, please visit the TruStage Business Protection Resource Center at Trustage.com/business (Password and log-in required)