Online vehicle sales warning

Are you thinking about buying a vehicle online? If yes, the police want you to be aware that fraudsters and scammers work online.

What you need to know:

Fraudsters have been advertising vehicles and machinery for sale on various online selling platforms. This includes vehicles and machinery used by the agricultural industry.

The victims, after communicating via email with the fraudster, will receive a bogus email which appears to be sent by a trustworthy third party, often PayPal or Escrow.

The emails are designed to persuade victims to pay upfront via bank transfer rather than through a protected payment method via the website. The victim pays the deposit before visiting the seller to collect the goods, believing there is a ‘cooling off’ period to reclaim the payment if they change their mind.

This gives victims the false sense of security that their money is being looked after by this trustworthy third party, when in fact, it is not and their money has gone straight to the fraudster.

It is vital that the public exercise caution when receiving emails of messages of this nature.

What you need to do:

  • Never transfer money for a vehicle you haven’t seen in person.
  • Avoid paying for the vehicle by bank transfer as it offers you little protection if you become a victim of fraud. Instead, use a credit card or payment services such as PayPal.
  • If you’re purchasing from a company or person you don’t know or trust, carry out some research first, or ask friends and family for advice before completing a purchase.

picture of a man on a phone and laptop

** Please note: original communication ‘Online Vehicle Sales Alert’ sent by City of London Police (published on 07/06/2019) Reference: 1904002

 

-Ends-

 

Notes to Editors:

About Covéa Insurance

Covea Insurance plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.3 billion Euros in premiums in 2017.  

Covéa Insurance looks after the insurance needs of over 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ stable rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels. Employing over 1800 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and is signatory to the HM Treasury Women In Finance Charter. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

In 2018, Covéa Insurance were recipients of the Personal Lines Insurer of the Year award at both the British Insurance Awards and the Insurance Times Awards and was the top rated insurer in the Insurance Times Broker Service Survey for both Personal and Commercial Lines.

Back to list

Media Contacts

For media enquiries, please contact Stephanie Cox.

Alternatively, please call or email

E: Dianne Smith T: 07796 695 090