Escrow Services Replaced By Online Purchase Arbitrators

Fake Escrow Service: How It Works

You just won an online auction for a sweet item, whether a bike, a laptop, or even a car. The piece isn't cheap, so you're being incredibly cautious about checking out the owner. To prove he's serious and reliable, the seller suggests a "third-party arbitrator" (escrow service, in other words) that will verify both sides. 

The buyer sends the money to the arbitrator, who is also supposed to verify if the product offered for sale really exists. But the arbitrator is part of the scam, being the same person as the seller.

Scam Detectors Most Trusted Websites in Online Security
  1. (100): Surf the web safely. Clean up your browser, remove malicious extensions and check for privacy violations.
  2. (100): Delete your personal data from the internet and protect against scams and identity theft.
  3. ExpressVPN (100) Stay secure and anonymous online - Best VPN Out There

Fake Escrow Service: How To Avoid

If the seller recommends you names such as Yahoo Finance or MSN Finance as arbitrators, stay away. There are no such things. Scammers use well-known names to make their operations look more official.

They simply create fake e-mail addresses and send messages to the buyer confirming that the products really exist. The victims send the money to the arbitrator thinking they are safe, but the arbitrator and the seller are one and the same. In short, only use the official arbitrators of the website you're buying the item from.

identity theft protection


1. Top 5 Amazon Scams in 2024
2. Top 5 PayPal Scams in 2024
3. How To Spot a Scam Email in 2024
selma hrynchuk
Selma HrynchukSelma is a fraud prevention specialist renowned for her expertise in private eye investigations and a remarkable partnership with law enforcement agencies. Beyond her investigative triumphs, her public speaking engagements and written works have empowered countless individuals to protect themselves and stay ahead of deceptive schemes. Selma's legacy shines as a tenacious agent of change, unyielding in her commitment to battling fraud and ensuring a safer world for all.

Leave a Comment

Your email address will not be published. Required fields are marked *