Scam Alert Information - Usedboats.com

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Buyers and Sellers Beware

UsedBoats.com has been contacted by Federal Authorities to assist them in informing the boat buying and selling public about some recent scams:

1.) Scams That You, As The Seller Of Boats, Should Beware Of:

A buyer will call you and show interest in your boat. He or she will then, in most cases, pay exactly what you are asking. In some cases, they will offer to pay more. Next, the buyer will send you a check, or a letter of credit, for the boat and tell you that you need to refund ONLY a portion of the price. However, the check that you received has NOT cleared your bank. You would then send money back to the "fake" buyer, without the buyers check ever clearing YOUR account. Then the buyer disappears and you are left with an UNCLEARED check. Simply put, they send you a BAD check and you send them a good check. This is being done in the US as well as foreign countries.

EXAMPLES:

What to do:

ALWAYS make sure you know who you are talking to and who you are dealing with. Get their names, addresses and phone numbers. NEVER send any money back to the "purchaser" WITHOUT making certain that their check has CLEARED your bank. Call your bank and asked if the FUNDS ARE CLEARED. Remember, even though you deposit a check, it is still NOT cleared until your bank tells you that it is. Also, keep in mind, a "Cashiers Check" is just a "check," and it is NOT considered cash by your bank. The sender of a Cashiers Check can ALWAYS put a "stop payment" on the Cashiers Check. The best option is to have the potential buyer WIRE funds into your account, however, check with your bank to make certain the transaction has no recourse.

2.) Scams That You, As The Buyer Of Boats, Should Beware Of:

Anyone can list a boat for sale on a boat-for-sale website, or put an ad in the paper with a picture of a boat. Unfortunately there are always people who do business with bad intentions. A "fake," or criminal type person, in this scam can list a boat for sale WITHOUT ever owning it. They simply take a picture of a boat, make up a description, list the boat for sale while claiming to own it. Buyers will typically note that the deal seems "too good to be true" (your first clue)! When you contact the seller, the seller will request (beg and give reasons why) that you send some money as a "down payment" so you don't "lose the sale." Simply put, they take your money and run.

EXAMPLES:

What to do:

Make certain that the seller is real. Get names, addresses, phone numbers and references. Call at an off-hour time and see who answers or how they answer. Are you able to get through at any time? Do they have an answering machine? Call the BBB in their area. Get a hull and engine number(s) and check with the respective manufacturers. If you feel skeptical, only agree to an escrow account with a law firm OF YOUR CHOICE (again, YOUR CHOICE). This way, when the vessel arrives, and all is well, your money goes to the seller and you get your dream boat!

The good news is, these instances are few and far between. In addition, this has NOTHING to do with "internet crime." These unscrupulous people can just as easily do these scams with your local newspaper. However, if this happens to you, no statistic on the planet will console your wallet. Therefore, use common sense and do your due diligence. If anyone is aware of ANY activity that is questionable, please feel free to contact us and we will immediately inform the correct federal agencies. We hope this information helps, and thank you for using UsedBoats.com

3.) Email Phishing Scams

Phishing is the criminally fraudulent process of attempting to acquire sensitive information such as usernames, passwords and credit card details by masquerading as a trustworthy entity in an electronic communication. Unauthorized entities may send you an email stating that your account has been compromised, or that your account has been tampered with in some way. The email will usually include a link that directs you to "reset" your account by providing your username, password, or other credentials.

Please keep in mind that Usedboats.com and Yachtbroker.com will never ask you for your username, password, or other credentials in email form, unless you initiate a conversation with our support department. If you receive an email stating that there is an issue with your account, always ensure the url directs to http://www.usedboats.com or http://www.yachtbroker.com. Scammers may attempt to direct you to websites that look like ours, but the web address will be different.

If you are ever in doubt of the validity of an email purporting to be from UsedBoats.com or Yachtbroker.com, type the URL directly into your address bar and log into your account from our homepage.

For more information, please visit this article on Wikipedia: http://en.wikipedia.org/wiki/Phishing