BBB reports virtual vehicle vendor scam reports rose in 2023

CAPE GIRARDEAU, Mo. (KBSI) – In 2023, virtual vehicle vendor scam reports to BBB increased as fraudsters targeted high-end classic car buyers and exploited vehicle history reports to steal money and information.

Since 2020, reports to Better Business Bureau have shown that scammers used the COVID-19 pandemic to list non-existent vehicles of all kinds on real online marketplaces.

In more recent reports, they are increasingly turning to fake websites modeled after licensed sellers.

These look-a-like websites use stolen photos, contact information and even vehicle identification numbers (VIN) to fool consumers.

In “Virtual vehicle vendor scams and related fraud persist post-pandemic,” Better Business Bureau examines the patterns of reports, reviews the amount of money lost and learns from those caught up in the scams to protect the public through education.

Key findings:

• Online vehicle vendor scam reports to BBB Scam Tracker declined in 2022 but increased to new highs in 2023.
• Buyers 45 and older accounted for more than three-quarters of all reports on virtual vehicle vendor scams filed with BBB Scam Tracker.
• Scammers increasingly rely on fake websites, often stealing pictures and listing information from licensed and legitimate sellers.
• Classic car buyers were targeted with low prices and promises to deliver rare cars across the country.
• Fake vehicle history reports rose over the last three years. While median losses are smaller, consumers reported personal data theft as a part of these scams.

Statistics were reported to the BBB from 2021-2023).

Close to 700 BBB Scam Tracker reports on fraudulent vehicle sales, escrow scams and fake vehicle reports $12,600 median loss in fraudulent vehicle sale and escrow scams $45 median loss in fake vehicle report scams BBB has examined virtual vehicle vendor scams in-depth since 2020.

Scammers continue to change their tactics.

The losses in these scams can be enormous.

A Rolla, Mo. business owner lost $12,000 when he paid what he thought was an escrow deposit to a company for shipping containers.

Since he paid the deposit, he has not been able to get a response back from the company.

BBB tips for those looking to buy a car online:

• Do not purchase a vehicle report on your own vehicle for an interested buyer.
• View a vehicle in-person if possible or send someone you trust.
• Be wary of too-good-to-be-true prices.
• Opt for vehicle pick-up over delivery whenever possible.
• Resist high-pressure sales tactics urging quick action.
• Use only approved Vehicle Identification Number (VIN) lookup websites.

Visit BBB.org to check out a business or register a complaint, BBB Scam TrackerSM to report a scam and bbb.org/scamstudies for more on this and other scams.