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Escrow scam?

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Andy9934
Nova Slayer



Joined: 19 Apr 2014
Karma :
PostPosted: 20:06 - 28 Jun 2015    Post subject: Escrow scam? Reply with quote
I saw a nice Yamaha WR125X come up on gumtree for 1650 and thought I'd test the water as it's a very low price for this bike.

The seller has now said they're based in Germany and the bike is in escrow - I pay, they deliver it, I get 5 days to change my mind.

So I'm 90% certain it's a scam, is there anything I can do to sting them like calling the police in advance? Or should I just stop communicating?
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Honda Varadero XL125
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Ste
Not Work Safe



Joined: 01 Sep 2002
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PostPosted: 20:19 - 28 Jun 2015    Post subject: Reply with quote
100% certain it's a scam. Do not reply to them.
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Ariel Badger
Super Spammer



Joined: 02 Dec 2006
Karma :
PostPosted: 21:09 - 28 Jun 2015    Post subject: Reply with quote
https://en.wikipedia.org/wiki/Bogus_escrow
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Rogerborg
nimbA



Joined: 26 Oct 2010
Karma :
PostPosted: 21:40 - 28 Jun 2015    Post subject: Reply with quote
105% certain.

Not working on the rigs though?

Just copy a distinctive block of text from the advert or "seller" communications and Google it. You usually get plenty of hits.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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Fair Trial
L Plate Warrior



Joined: 29 Jun 2015
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PostPosted: 10:52 - 29 Jun 2015    Post subject: Reply with quote
I work for Europe's leading escrow service.

If you think about it, this must be a scam, as the cost of transport is high.

If you rejected the bike, and thereby received your payment back from escrow (the whole point of escrow), the seller would have lost out hugely from the cost of transporting the bike to you and back.
No genuine seller will ever do that.

The seller is a criminal, and trying to get you to pay money to their fake escrow service, at which time they will disappear.

There is an important place for genuine escrow services in bike sales, but this is not one of them.
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Rogerborg
nimbA



Joined: 26 Oct 2010
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PostPosted: 11:20 - 29 Jun 2015    Post subject: Reply with quote
Well, helllllo Andrew.

transpact.com Spam in 3... 2...
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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Andy9934
Nova Slayer



Joined: 19 Apr 2014
Karma :
PostPosted: 21:11 - 29 Jun 2015    Post subject: Reply with quote
Anything I can do to wind them up/waste their time in light of this then? I couldn't find anything when googling so for posterity:

Quote:
Hi, First I would like to let you know I do not find myself in U.K. as I worked there until very recently when the company I work for decided it's time to return to Germany(my birth place).
As I will not be able to sell the bike to you, myself I decided to use a third party Escrow company to act on my behalf. They will be supervising the entire sale process from payment, shipping with a inspection period (5 working days) and (if needed) returns and refunding.
Please let me give you a brief description about the process of this sale and afterwards you can decide if you want to go with it or not.
The company is keeping the bike with all its documentation(V5c included),signed by me, ready for the sale, and you will have to transfer the payment amount for the bike in an escrow account held by the third party company. The shipping, escrow company and return(if you refuse)fees will be paid by me so no extra charge for you.
If you will agree to go ahead and want to buy the bike, I can advise the agent designated for my transaction and he can prepare the transaction (it will provide you a technical inspection and proforma invoice containing their escrow account details). You will have to transfer the payment into their trust account. After payment verification they will deliver the bike to your address. I won't get paid until it arrives and you inspect it, the money will be kept there, while the company will wait your decision.
After you will benefit of 5 working days of inspection and if decide to keep the bike, the company will transfer the money to me and we will have a successful deal. If however you decide not to buy it, the company will pick it up and they will give your money back with no questions asked in less than 24 hrs. Thank you and let me know if you agree with terms and we can discuss further.
Quote:
Hi, The company can deliver the bike to your address as they are based in Edinburgh. Escrow is a known service, but maybe not for everybody. It's when a third party have to handle a transaction for you, I left the bike with all documentation signed and you will have to transfer the full payment amount in their escrow account which is secured and they will hold it. I understand your concerns of not seeing the bike in real, but you will have 5 days of inspection before you make your decision. Until then the money will be kept in the company's account. After having your decision the company will either pay me if you say yes or give you full refund in less than 24 hrs if you say no. This way the company can protect both of us, you by providing you a technical inspection carried out by them and offering those 5 days of inspection on your own, and me by holding the payment safe until your decision and assuring me the bike will be safe. This is the transaction number: 4LINV11139, designated agent name: David. Company website: www.4logistic-limited-united-kingdom.czechian.net email: info@4logistic-limited-united-kingdom.16mb.com Thanks,

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Ste
Not Work Safe



Joined: 01 Sep 2002
Karma :
PostPosted: 07:12 - 30 Jun 2015    Post subject: Reply with quote
"I work for Europe's leading escrow service."

Thinking

Sounds legit. Thumbs Up

Andy9934 wrote:
Anything I can do to wind them up/waste their time in light of this then?

Ste wrote:
Do not reply to them.


Reply to them as much as you want if you want to waste your own time.
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Rogerborg
nimbA



Joined: 26 Oct 2010
Karma :
PostPosted: 07:28 - 30 Jun 2015    Post subject: Reply with quote
Ste wrote:
"I work for Europe's leading escrow service."

Thinking

Sounds legit. Thumbs Up

He's been shilling it for years. It does seem like a legit service and actually very cheap, although as always the test is what happens when things go wrong on a big value transaction.

Agreed that it's a literal waste of time trying to troll Herr Scammer, it's just a cost of doing business.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike
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Old Thread Alert!

The last post was made 10 years, 176 days ago. Instead of replying here, would creating a new thread be more useful?
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