OPP have issued a warning about a new type of fraudster, selling farm machinery online and scamming victims out of hundreds of thousands of dollars.
The scheme features fraudsters posing as sellers in the United States, offering seemingly irresistible deals. These fraudulent listings display items well below market value, luring buyers into a trap.
According to the Canadian Anti-Fraud Centre (CAFC), the year 2022 witnessed a staggering $8.9 million in victim losses attributed to merchandise fraud. Shockingly, it is estimated that only 5% to 10% of victims report scams.
To safeguard against falling victim to such scams, here are some essential prevention tips:
- Conduct Thorough Research: Take your time to investigate the purchase, as careful research can save you both money and stress.
- Beware of Unrealistic Deals: If an offer appears too good to be true, it probably is. Fraudsters often use reputable websites to display stolen images and equipment information.
- Verify the Buyer/Seller: Investigate the other party extensively. Use internet maps to verify addresses, conduct reverse image searches on the equipment, and consider reaching out to local heavy equipment repair companies for insights.
- Physical Inspection: Whenever possible, physically inspect the equipment or consider hiring a professional for an inspection.
- Avoid Urgency: Be cautious if the other party tries to rush the transaction; fraudsters often use high-pressure tactics.
If you or someone you know becomes a victim of fraud, don’t hesitate to report it to your local police service and the CAFC at 1-888-495-8501 or through the Fraud Reporting System (FRS), even if you haven’t suffered a financial loss.
Written by B. Shakyaver
