ATTENTION SELLERS: Fraud Alert
Counterfeit Cashiers Checks
A very serious matter has come to our attention and
we feel it is our duty to inform our users regarding any type of large-scale
fraudulent activity that may be taking place related to the horse industry.
We strongly believe in educating everyone to create an environment that
is beneficial to both the buyer and the seller.
People selling horses are receiving buyer inquiries
from a third party regarding the purchase of a horse from a potential
buyer in Nigeria, Africa, London, Hong Kong, AND OTHERS. This inquiry
commonly attempts to arrange the purchase of the horse with a cashiers
check covering the price of the horse and shipping. After the horse
has been shipped, they commonly ask you to refund the shipping charges
as part of a “finders’ fee” arrangement. They may
also send you a check larger than the purchase price and ask for a refund
of the difference.
Unfortunately, the CASHIER'S CHECK IS COUNTERFEIT.
This fact is not uncovered until the horse and/or your own money (the
difference in the check they send to their victims and the lower sales
price of the horse) have been forwarded to the scam artists.
This scam may take various forms including purchasing
frozen semen, tack, equipment, using WIRE TRANSFERS,
etc. but all of the emails we have seen have various similarities including
misspellings, bad English, foreign countries, and making offers for
a client or other third party.
To protect yourselves and others against this type of activity, it is
important to try and obtain as much information about the buyer as possible.
If you suspect the buyer may be involved in this or similar scams, please
forward any information you can obtain to the following organizations:
U.S. complaints use the Federal
Trade Commission Consumer Complaint Form.
You may also forward suspected scam email directly to:
uce@ftc.gov
Internet
Fraud Complaint Center
Fraud
Tips from the IFCC
IFCC
Warnings
Canadian Complaints contact the Royal
Canadian Mounted Police.
To help you in recognizing these types of scams, we
have provided below a list of indicators. They are only guidelines,
and as always, should be tempered with common sense.
- Big Promises
Claims such as offering more money than the asking price without an
initial conversation regarding the horse are almost always a sure sign
of a scam. Be careful of any individual who wants to send you more than
your asking price.
- Cashiers Cheque (note spelling) for MORE than Your
Asking Price
They will send you a (COUNTERFEIT) cashiers check or certified check
(usually spelled cheque) and ask you to send the difference to them
or their shipper by wire transfer or Western Union.
- High Pressure Tactics
Be wary of individuals asking you to speed up the transaction beyond
your comfort range. Again, a legitimate deal probably isn\'t going to
move as fast as your money. Don\'t let yourself be pressured -- think
things through.
- Requests for financial information.
Don’t give out any bank information without establishing a comfort
level with the buyer or seller.
- Always get something in writing.
You should never complete a transaction without first writing down the
terms of the deal and have each party sign it. If you can’t afford
a lawyer to draft up a contract, you still should write down the terms
of the deal in plain English and get it signed. Any buyer or seller
that is hesitant or resists is usually a sure sign of a potential problem.
- Remember the old saying, "If it sounds to good to be
true, it probably is."
