Pat Goss' Tips & Expert Advice

Escrow Service Scams

Car buyers and sellers use escrow services in an attempt to circumvent the possibility of encountering fraud, both on the part of the buyer and the seller. Unfortunately, even escrow services are not 100 percent safe from issues. Although the escrow services offered through Escrow.com are completely legitimate and benefit everyone involved in the sale and purchase of a car, there is always the potential for scammers to try to take advantage of the situation. When using an escrow service, you should always be wary of unsolicited e-mails which request payments, financial information, or any other items which may compromise your personal information. Never reply to an e-mail with bank account information or PIN numbers, even if the e-mail is seemingly from the escrow service you are using. It is a better idea to contact the escrow service directly and give any needed information to the company in a phone call you initiate. This way you know that you are dealing directly with the company and not with a clever – yet unscrupulous – individual.